Cosmos: Next Crypto Gem in Surging Markets

With its modular infrastructure simplifying decentralized applications, Cosmos may see a 30% increase to $17.19 and potentially reach $20.00.

Cosmos (ATOM), whose modular infrastructure demystifies decentralized applications and aims to simplify blockchain technology for developers, may be the next token to appreciate as meme coins and GAI crypto coins soar.

Price of Cosmos Validates Breakout

The price of Cosmos (ATOM) managed to break free from a descending parallel channel on February 27; however, the three-day time frame indicated that the move was premature.

On March 1, however, a subsequent development occurred when the ATOM price closed above the channel.

As indicated by the March 4 retest on the following three-day chart, the price of Cosmos may now be poised for a prolonged ascent to the north.

The range’s peak at $17.19, last observed in September 2022, represents the next potential obstacle. This action would represent an ascent of 30% above the present levels.

Large bars on the volume indicator indicate a price trend that is strengthening. Additionally, the northbound Relative Strength Index (RSI) shows increasing momentum, heightening the probability of additional gains.

Under highly favorable conditions, the price of ATOM could surpass the $17.19 psychological threshold and potentially extend to the $20.00 level. This equals an increase of 50% over the present levels.

Conversely, should the $13.16 barrier prove unconquerable, the price of ATOM may retreat and possibly retest the $11.22 support.

A prolonged decline may cause the price of ATOM to fall below the psychological threshold of $10.00. A three-day candlestick close below this level would result in a lower low, which could invalidate the bullish thesis.