The cryptocurrency market has experienced a slight dip in 24 hours. Bitcoin, ethereum, dogecoin, solana and polkadot are among the coins that have made significant losses. Cosmos ATOM has also dipped, and despite retaining some price gains made over the past week, the coin could erase these gains if the dip continues.
Cosmos is trading at $15.61 at the time of writing after a 3.1% dip in 24 hours.
ATOM Price Analysis
ATOM’s volatility has been moderate for the past few days. Currently, market support is lacking, given that most coins are either consolidating or moving to lower levels. Cosmos (ATOM) has been making a steady decline in the past 24 hours, and we could see this trend progress if market support continues growing weaker.
After making new monthly highs above $17, ATOM is now retreating to retest lower support at $14. This support could be retested if the current market recession continues in the coming days. If traders rush to sell off with fear of further price dips, we could see ATOM retreat even lower towards $12.
On the other hand, the recent market dip could be what some buyers were waiting for to enter the market while the overall bullish sentiment is still at play. Hence, if ATOM prices push lower towards $10, it could present an ideal entry position for traders left out during the recent bull run. Hence, we could see another bullish rally when this happens.
Cosmos is among the blockchain networks working to solve issues of scalability. The blockchain serves as a decentralized platform that allows the exchange of data between multiple blockchains. Cosmos states that some of its objectives involve creating an internet of blockchains that will be scalable and interoperable. Hence, it exists as one of the major Ethereum competitors.
Where to Buy ATOM
If you want to buy ATOM tokens, you can do so on the following exchange platforms:
One of the leading exchanges where you can buy this cryptocurrency is eToro. eToro is a renowned social copy trading platform that supports new users by copying the trading strategies of expert traders. eToro also charges low trading fees, and trading on the platform is also easy.
You can also buy ATOM from KuCoin. Kucoin is also a popular exchange that supports a wide range of altcoins. KuCoin offers low trading fees, and it also supports copy trading to give new traders a better chance of making profits.
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