Cosmos (ATOM) is set for a bullish trend with major upgrades to the ecosystem. Recent enhancements to the Cosmos SDK and Inter-Blockchain Communication (IBC) protocol have boosted the network’s functionality and efficiency. These advancements align with Cosmos’s vision of creating an “Internet of Blockchains,” fostering greater blockchain interoperability.
🧵4/ Interoperability Magic: SWISSTRONIK isn’t just one star; it’s part of a larger cosmic dance. It can communicate with other #blockchains via the Cosmos SDK’s #IBC module. Secure cross-chain transactions? Check! It’s like a universal translator for cryptocurrency.#cosmossdk
— Austin🇨🇭 (@Austine611692) July 7, 2024
As more chains adopt the IBC protocol, the utility and demand for ATOM are expected to rise. This increased adoption is being closely monitored by market participants, suggesting a potential surge in ATOM’s value as its ecosystem expands and integrates further. The ongoing improvements underscore Cosmos’s commitment to innovation and its influential role in the blockchain space.
Key Cosmos Levels To Watch—July 7
The ATOM/USD pair shows a bullish reversal after hitting the support level at $5.550. The price has started to rise and is currently above the 9-day SMA, suggesting a short-term uptrend.
The next resistance levels to watch are $7.270 and $8.200, which, if breached, could further confirm the bullish momentum. The RSI has also moved above 30, exiting the oversold region, which supports the potential for a continued upward move.
ATOM Key Levels
Resistance Levels: $10.630, $13.040, $14.510
Support Levels: $7.270, $6.160, $5.550
Market Metrics
Total Market Capitalization: $2.10T
Cosmos Market Capitalization: $2.32B
Cosmos Volume: $171.20M
Market Rank: #33
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