Cosmos (ATOM) Price Analysis: will break its downtrend Towards Surge

Cosmos (ATOM) Price Analysis:

An interesting thing about Cosmos coin is that, it is an ecosystem rather than a product of a great organization. This ecosystem is based on different versatile tools that ignite developers to join this hub for the betterment of these tools to improve the Blockchain technology. These tools are very important to invent a new decentralized global network of Economical system for innovative future.

We can see the productivity of Cosmos by a tweet of CEO of BINANCE, when it was launching

“Here is a project that refused to even talk to an exchange about listing (and we have a good relationship with their tech guys), but we list it anyway.”

Cosmos has many partners but BINANCE chain is prominent as it is the product of famous exchange of the cryptocurrency” BINANCE”.

Recently, Cosmos introduced the Vest that would aid to get the rewards of Proof-of-stack. Cosmos’s community and its tech team different from other altcoins.

Cosmos Statistics:

The market cap of Cosmos coin is $1,024,669,042 USD and 97,638 BTC. The 24 hour volume of coin is $106,169,190USD and 10,117 BTC. The market cap of Cosmos is in good condition helping coin to rank #19 on Coin Market Cap.

Cosmos Price Comparison:

The price of Cosmos falls drastically in a month by a parabolic movement from 2 June to July 2.If we compare the price value of Cosmos coin of month, we come to know about that the price value on 2 June was $6.0237 USD which crash gradually to $5.3647 USD. After the alongside motion of coin, it then moved in downtrend at postion$6.1219 USD. The first resistance level was at $5.7219 USD, second resistance at $5.4122 USD. Today, it also fails to break the resistance level of $5.6250 USD.

Cosmos Price Prediction:

Cosmos falls 2.76% today continuing in downward direct maintaining its downtrend. There are chances that trend line of Cosmos will bounce from the support level at current value. Another possibility is that it may break the support level and will continue its downward trend. In case of downward trend, the next support will be $3.81 USD. It will move to resistance level at position at $6.0303 USD.

 

Conclusion:

This coin is not going to falls like many other altcoins in the future. There are many reasons of this claim.  It has a strong support of prominent exchange BINANCE and many other reliable partners. The current line showing us that it will move in upward direction.

Also check out :

Vsystems Price Analysis

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Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

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