ATOM is considered one of the finest performers amongst the high 30 cryptocurrencies by market cap today.
ATOM, the native token of the Cosmos ecosystem, is considered one of the finest performers amongst the high 30 cryptocurrencies by market cap today. The coin has added more than 12% to its worth today, outperforming the broader crypto market.
The cryptocurrency market is slowly recovering today, following a gradual begin to the week. After shedding more than 3% of its worth yesterday, the crypto market is up by almost 2% to date today.
The optimistic efficiency has pushed the whole cryptocurrency market cap above the $1 trillion mark once more.
Bitcoin stays above the $21k degree and will rally greater today after including more than 1% to its worth. Ether is buying and selling above $1,600 after relying its worth above the $1,500 psychological degree yesterday.
However, ATOM is the second-best performer amongst the high 30 cryptocurrencies by market cap (solely behind Bitcoin Cash).
There is no catalyst behind ATOM’s ongoing rally as it may very well be solely a restoration from its current worth crash. Despite including more than 12% to its worth today, ATOM is down by 1% in the final seven days.
Key ranges to observe
The ATOM/USD 4-hour chart has turned bullish as Cosmos has been performing effectively over the previous 24 hours.
The MACD line crossed into the optimistic zone a couple of hours in the past, indicating that ATOM is not bearish.
The 14-day relative energy index of 60 exhibits that ATOM may enter the overbought area if the optimistic momentum continues.
At press time, ATOM is buying and selling at $11.52. If the optimistic momentum continues, ATOM may transfer previous the first main resistance degree at $12.271 earlier than the finish of the day.
However, ATOM would want the help of the broader market to achieve the $13.60 mark for the first time since May.
