The Cosmos Hub price has risen by 4% today, moving ATOM to $8.30 as the cryptocurrency market loses a big 9% in 24 hours.
Despite this lift, ATOM remains down by 5% in a week and by 30% in the last 30 days, with the altcoin also sitting on a 26% decline in the past year.
While its performance has disappointed in recent months, it almost seems that traders have turned to its already-discounted price today at a time of market-wide stress.
It could therefore be on the cusp of a big rally, particular as the market as a whole begins to recover.
Cosmos Hub Price Prediction as ATOM Stays Green Despite Market Crash – Should You Invest Today?
The most noticeable feature of ATOM’s chart is that, after having risen overall in the past day, the coin has actually fallen steeply in the past hour or so, as holders react to the market-wide crash.
Accordingly, its relative strength index (purple) has dropped from 70 earlier this morning to just under 50 now, signalling a big loss of momentum.
It’s possible that the RSI will fall towards and below 30 before we see a turnaround, with ATOM’s 30-day average (orange) also flattening out in the past hour after rising strongly in the morning.
One of the more bearish signals in ATOM’s chart comes from the coin’s resistance (red) and support (green) levels, which are both sliding down.
This suggests that the coin will sink to a new medium-term level before right itself, with its spike in volume signalling an increasing desire to sell out of the token.
Are we going to catch a bounce on $ATOM?
12-hr chart:
• Price was oversold (blue candles)
• Bullish divergence
• Pending buy signalCautions: Higher time frames like daily, weekly, & monthly are still currently bearish. pic.twitter.com/8XLBSGKlki
— Jesse Olson (@JesseOlson) May 1, 2024
Some analysts predicted ATOM’s bounce this morning, although it’s worth considering that, within the context of the cryptocurrency market, predictions by prominent analysts sometimes become self-fulfilling prophecies.
Still, the market has oversold ATOM for so long that the coin is more than deserving of a sustained comeback.
This is particularly the case when looking at the coin’s fundamentals, with Cosmos regularly growing as an interchain for crypto’s various platforms and networks.
3 years of interchain expansion… pic.twitter.com/XUKekchTMX
— Cosmos – The Interchain
(@cosmos) February 19, 2024
And as the wider ecosystem continues to expand in the coming months and years, Cosmos is only likely to attract more use.
This points to a rising Cosmos Hub price over time, with ATOM likely to reach $10 in the next few weeks, before touching $15 by the final months of the year.
It will have to wait for pessimism surrounding recent economic data to ebb away, but once it does, it should come racing back.
You might also like Cardano Price Prediction 2024, 2025, 2026–2034
Diversify with High-Potential Presale Tokens
Because ATOM is likely to follow the rhythms of the market as a whole, many traders may prefer to look to more volatile tokens for their gains in the near term.
This includes diversifying into new meme coins, and in particular new tokens that are holding their presales and gaining momentum as they prepare to list.
One such coin gaining plenty of momentum right now is Dogeverse (DOGEVERSE), a multi-chain meme coin that has raised more than $12 million in its ongoing presale.
Bridging Blockchains with $DOGEVERSE Tech
Wormhole and Portal Bridge play a crucial role in enhancing the interoperability within the #DOGEVERSE ecosystem.
We're eager to learn from your experiences—share your thoughts and insights below! #AltSeason #ETH #SOL #BNB pic.twitter.com/7rZm66mCWj
— DogeVerse (@The_DogeVerse) April 30, 2024
Billing itself as the first ever Doge-themed multichain cryptocurrency, DOGEVERSE will run on Ethereum, BNB Chain, Solana, Avalanche, and Base.
This already sets it apart from most other new meme coins, with its usability of multiple chains meaning that it may attract greater adoption and use.
And when combined with a max supply of 120 million tokens, rising demand is likely to make DOGEVERSE a deflationary cryptocurrency.
Any deflationary tendencies will also be heightened by the ability to stake the token, which will take a substantial proportion of the coin’s supply out of circulation.
Given such features, it’s no wonder that Dogeverse has been able to hold one of the most successful presales of the year.
The sale will end in several weeks, but latecomers can still join at the official Dogeverse website, where 1 DOGEVERSE currently costs $0.000304.
Such a price is likely to seem very low once the token lists in the next couple of months.
Buy DOGEVERSE Today
The post Cosmos Hub Price Prediction as ATOM Stays Green Despite Market Crash – Should You Invest Today? appeared first on Cryptonews.
