Cosmos (ATOM) Faces a Bearish Outlook Amid Security Vulnerability Concerns

Cosmos (ATOM) faces a bearish outlook amid security vulnerability concerns. The revelation of a critical security vulnerability in Cosmos (ATOM) has cast a shadow on its ecosystem, potentially triggering bearish market sentiment. CertiK’s discovery of a high-severity flaw in the CosmWasm smart contract platform raised concerns for over 20 app chains within Cosmos.
 

Cosmos Ecosystem Chains Affected By CosmWasm Vulnerability

— Coinvestors 🌐 (@CoinvestorsNews) January 15, 2024

The vulnerability, allowing disruption of transaction confirmations, posed a serious risk of a network-wide outage. While the community appreciated the swift patch release on January 10, the negative impact on Cosmos (ATOM) token prices cannot be overlooked. The market may experience a downturn as investors react to the security lapse, highlighting the delicate balance between security concerns and market dynamics in the crypto ecosystem.

Key Cosmos Levels To Watch – January 15

ATOMUSD was clearly in a bullish trend throughout the last few weeks of 2023. The market flipped bearish as the RSI (Relative Strength Index) indicated a bearish divergence.
 
A CHoCH (Change of Character) occurred afterward, attracting the bears to the market. The bearish trend recently resumed after a buy-side liquidity grab at $10.760.

ATOM Key Levels

Resistance Levels: $10.300, $12.950, $15.440
Support Levels: $8.940, $7.880, $6.160

Market Metrics

Total Market Capitalization: $1.69T
Cosmos Market Capitalization: $3.9B
Cosmos Volume: $120M
Market Rank: #22

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.