Cosmos token has maintained an uptrend since June.
There are speculations for a better utility of ATOM with Cosmos 2.0.
ATOM is a purchase however anticipating a retracement.
Cosmos ATOM/USD has been one of many strongest cryptocurrencies recently. Since mid-June, the cryptocurrency has maintained a system of upper highs and better lows. ATOM can be but to interrupt beneath the 50-day shifting common since July. What is the potential motive for the sustained surge?
Speculations round Cosmos 2.0 might be attracting ATOM patrons. Cosmos 2.0 is anticipated to reinforce the interoperability, performance, and total Cosmos infrastructure. There is not any particular date for it. However, the discussions are anticipated to rise in the course of the Cosmoverse 2022 occasion kicking up on September 28. The convention can even see extra facet occasions, together with the Osmos Dex and Loop Finance.
ATOM worth response and prediction after Doji signal
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A Doji is a vital worth signal for a technical reader. It is characterised by a candlestick exhibiting an equal or virtually the identical opening and shutting worth. The candlestick conveys indecision between patrons and sellers.
After retracing from a excessive of $17, ATOM shaped a Doji signal on the minor assist of $13. It signified a lack of directional bias. Since then, patrons have managed to outwit the sellers as the value shot up.
Source – TradingView
From the technical outlook, a Doji signal on the minor assist took ATOM to $15. The worth is experiencing some resistance. The MACD indicator reveals a waning momentum in worth.
Concluding ideas
ATOM stays in a robust bullish momentum. A Doji signal on the assist adopted by a worth surge confirmed a bullish momentum. The cryptocurrency is dealing with resistance, and a potential retracement might happen. Investors ought to contemplate shopping for on a retracement probably at or near $13.
