Crypto Veteran Arthur Cheong is Bullish on Cosmos (ATOM)

 
Crypto veteran Arthur Cheong is bullish on ATOM amid a surge in derivatives. In a recent interview, seasoned crypto investor Arthur Cheong expressed optimism about the burgeoning potential of Cosmos (ATOM). Focusing on the decentralized derivatives trading sector, Cheong, head of DeFiance Capital, highlighted its status as crypto’s largest market, generating substantial revenue discreetly.

#Altcoins #ArthurCheong #Crypto #defiancecapital Here’s the ‘Home Run’ Trade for Crypto’s Next Cycle That Could Print 5-10X Gains, According to Investor Arthur Cheong https://t.co/MGDEjSaKUo

— CryptoCoinFabriek (@CryptoFabriek) November 14, 2023

Anticipating significant growth, he asserted that even with stable trading volumes, the sector could expand five to ten times. Emphasizing bullish sentiments, Cheong projected a shift from the current 2 to 5% market share to at least 20% within two years. Notably, he linked his positive outlook on the Cosmos (ATOM) ecosystem to the decentralized derivatives trading platform dYdX. This strategic perspective positions decentralized derivatives as a potential ‘home run’ investment in the coming years.

Key ATOM Levels To Watch – November 15

Cosmos is currently in a clear uptrend as the MA Cross keeps expanding in the upward direction. The upward trend began after a successful change of character to the upside on October 30, 2023.
 
The change of character occurred as the price invalidated the $7.880 previous swing high. According to the Stochastic Oscillator, a clear retracement is currently ongoing. However, ATOMUSD is likely to resume its uptrend from the discount zone.

ATOM Key Levels

Resistance Levels: $8.940, $10.300, $12.950
Support Levels: $7.310, $6.810, $6.160

Cosmos Metrics

Total Market Capitalization: $1.34T
Cosmos Market Capitalization: $3.5B
Cosmos Volume: $201M
Market Rank: #25

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