Cosmos’ Bullish Surge through Umee and Osmosis Revolutionary Merger Upgrade

Two Cosmos application chains, Umee and Osmosis, have announced their merger through a revolutionary software upgrade, indicating a bullish upturn for Cosmos (ATOM). This merger entails the reimplementation of Umee’s DeFi lending protocol, initially operating on the “UX Chain,” onto the Osmosis chain, effectively establishing an all-encompassing “DeFi Hub” within the ATOM ecosystem.

In a significant move within the Cosmos ecosystem, the Umee and Osmosis networks are set to merge through a software upgrade. https://t.co/DTylk99xBj

— Cointelegraph (@Cointelegraph) December 4, 2023

Renowned for its lending services, Umee and Osmosis, the preeminent DEX in Cosmos, will collaborate on a unified chain. This will introduce an array of inventive features such as spot margin trading, interchain flash loans, and more. This strategic amalgamation marks a pivotal juncture for ATOM, poised for positive transformation as the developers await engagement.

Key Cosmos Levels To Watch – December 5

Until late November 2023, ATOMUSD was in a downtrend. The downward flow occurred along a falling trendline that emerged long before the start of the year’s third quarter. According to the Moving Average, the market’s trend is now bullish.

The trading range of the market lies between $6.160 and $10.570 price levels. As the price approaches the overbought region, a retracement to the discount zone looms. However, the uptrend is likely to resume as soon as the discount zone is reached.

ATOM Key Levels

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

Cosmos Metrics

Total Market Capitalization: $1.54T
Cosmos Market Capitalization: $3.6B
Cosmos Volume: $317M
Market Rank: #20

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