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Cosmos [ATOM]: From rags to riches by 139% in the last 90 days

Cosmos [ATOM]: From rags to riches by 139% in the last 90 days

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According to the Crypto Social Intelligence Tool LunarCrushATOM has been one of the best performing cryptocurrencies over the past 90 days. At the $16 price level, LunarCrush found that the #18 largest cryptocurrency had gained 139% in price over the past three months.

In addition, it noted that the social dominance of the property had increased by 76 percent during the same period. At the time of writing, ATOM’s social dominance was 0.15%.

Data from CoinMarketCap also revealed that ATOM ranked third on the list of top-grossing cryptocurrencies last week. ATOM rose in price by 5%, following CHZ, which gained 6.13%. CEL also made the list, rising with a double-digit increase of 14.02 percent in the same period.

Source: CoinMarketCap

ATOM in September

At press time, ATOM was trading at $16.63. In the last 16 days, the price of ATOM coin had increased by 38%. Still, in its rally, it registered a 10 percent price increase in the last 24 hours and a corresponding 14 percent increase in trading.

The asset’s Moving Average Convergence Divergence (MACD) on the daily chart showed that the bulls have been in control since September 6.

On September 9, the Relative Strength Index (RSI) tried to break into the 70 overbought area. However, the decrease in buying pressure forced the indicator to its lowest level of 54 by September 13.

With renewed interest in the ATOM build-up, the Relative Strength Index (RSI) was in an uptrend at 66 at press time. Additionally, the asset’s Chaik Money Flow (CMF) gave a positive 0.22, indicating that selling pressure had eased since September 13.

Additionally, a look at the Exponential Moving Average (EMA) indicated that buyers are currently dominating the ATOM market. At the time of writing, the 20 EMA (blue) was above the 50 EMA (yellow), indicating that the bulls were in control as the coin piled up.

The Directional Movement Index (DMI) gave credence to this position, the strength of buyers (green) was 31.29 and the strength of sellers (red) was 13.56.

Source: TradingView

With more than 250 distributed applications (dApps) and services, development activity on Cosmos has increased over the past 90 days. Holy seemed It has risen 43 percent in that time.

However, while the price of ATOM rose, the total supply of coins held by whales worth more than $5 million fell steadily over the course of three months. According to Santimenti, the figure was 42 percent according to this magazine, while it was 44 percent in June.

Source: Santiment



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