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Within the inter-blockchain space, Cosmos (ATOM) is unique, yet there exists a narrative about dwindling user interest and transaction volume hidden beneath the surface. Unexpectedly, despite these difficulties, ATOM’s price increased by 13% over the previous week, casting doubt on its prospects. The upbeat narrative is called into question by the downward trend of ATOM’s daily active addresses and transactions.
Looking Deeper: Can ATOM Sustain Its 13% Surge Beyond The Network Buzz?
— SceneScotland (@scenescotlandd) December 26, 2023
However, ATOM’s stock defies the trend due to conjecture about its MVRV ratio and general market optimism. Important advancements like the merging of Osmosis and UX Chain bolster Cosmos. Reducing ATOM’s inflation rate is one example of a governance choice that improves stability and draws in more investment. Even if there is a technical concern, ATOM’s trajectory for further development depends on addressing user metrics and utilizing strategic collaborations as we enter the new year.
Key Cosmos Levels To Watch – December 27
The overall trend of the market became bullish as a result of the invalidation of the major trendline in October 2022. A Change of Character (CHoCH) occurred as the price broke a major trendline. This led to a new market trend as per the indication of the MA Cross.
A new BOS (Break of Structure) to the upside occurred recently as the price surged into the premium zone. According to the RSI (Relative Strength Index), ATOMUSD is retracing into the $10.300 demand zone before the bullish trend is resumed.
ATOM Key Levels
Resistance Levels: $12.950, $15.440, $7.100
Support Levels: $10.300, $7.880, $6.160
Cosmos Metrics
Total Market Capitalization: $1.62T
Cosmos Market Capitalization: $4.4B
Cosmos Volume: $261M
Market Rank: #20
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