Cosmos (ATOM) Positions for a Bullish Trend Due to Recent Advancements

Cosmos (ATOM) is positioned for a bullish trend due to its recent significant advancements. Recently, the Cosmos-based Picasso Network announced it had enabled the first Inter-Blockchain Communication (IBC) connection with Ethereum. This breakthrough allows seamless data and token transfers between the Cosmos ecosystem and Ethereum, enhancing interoperability and expanding Cosmos’ utility.

@Cardano Integrates IBC to enhance connectivity from @cosmos & @ethereum to #Cardano. 🥳 ➡️ The implementation of #IBC for Cardano adds another option for connecting #Ethereum Virtual Machine (EVM)-based sidechains to Cardano.https://t.co/oKmqQacs0J#Cosmos #ATOM $OSMO pic.twitter.com/wILGADVPnk

— SmartNodes Validator ⚛️ #CosmosEcosystem (@nodes_smart) July 15, 2024

 
This development is expected to drive increased adoption and investment in Cosmos, as it solves one of the major challenges in the blockchain space—interoperability. The positive market sentiment is reflected in ATOM’s recent price increase of 2.30%, reaching $11.08. These innovations highlight Cosmos’ potential to become a pivotal player in the decentralized blockchain network. 

Key Cosmos Levels To Watch – July 15

The ATOMUSD pair is showing bullish signals as it moves upward from the $5.060 support level. The price has crossed above the 9-period SMA, indicating potential continued momentum.
 
The RSI is currently at 45.25, trending upward from oversold conditions, suggesting growing buying pressure. The projected target is the $7.270 resistance level, with further potential gains towards $8.50 if this level is broken.

ATOM Key Levels

Resistance Levels: $7.270, $10.630, $13.040 
Support Levels: $6.160, $5.550, $5.060

Market Metrics

Total Market Capitalization: $2.33T
Cosmos Market Capitalization: $2.50B
Cosmos Volume: $129.88M
Market Rank: #35

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