ATOM prediction as price pumps ahead of Cosmoverse conference
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The Cosmos blockchain connects other networks.
Cosmoverse is expected to take place on the 26th-28th. September
ATOM has maintained a rally since June and recently broke resistance.
Cosmos ATOM/USD has maintained an upward momentum since June. While most cryptocurrencies fell, ATOM kept prices largely above the 20-day and 50-day MAs. The rise has highlighted buyers’ interest in the ecosystem. This week, ATOM is up nearly 30%, triggering a key breakout that could bring in more buyers.
Cosmo is called the “internet of blockchains” because it connects different networks. The gains since June reflect the recovery of the crypto sector. As cryptocurrencies began to recover, Cosmos’ shared model could attract liquidity to the network. This may have been the reason for the long recovery of the original token ATOM.
The Cosmoverse conference is another event that fuels the latest achievements. The event, which will take place on 26-28 September, is expected to bring various development updates. For the technical reader, ATOM price action displays important signals that provide clues.
ATOM rallied after an upswing in the resistance zone
Source – TradingView
ATOM broke above the $12.3 level on September 8 in the bull run. The cryptocurrency is trading at $15.9 after slowing following the breakout. All moving averages and MACD indicators reveal strong and increasing bullish momentum.
The next level of ATOM is $20. The token may correct a bit at the current level before the uptrend continues. Investors should consider buying a retrace at or near $12.3 or the moving average.
ATOM will likely continue to rise before the Cosmoverse conference after the latest eruption. The cryptocurrency aims for the $20 level. We recommend purchasing the possible tracking. The closest support is $12.3.
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