ATOM is likely one of the finest performers amongst the highest 30 cryptocurrencies by market cap right now.
ATOM, the native token of the Cosmos ecosystem, is likely one of the finest performers amongst the highest 30 cryptocurrencies by market cap right now. The coin has added greater than 12% to its worth right now, outperforming the broader crypto market.
The cryptocurrency market is slowly recovering right now, following a sluggish begin to the week. After dropping greater than 3% of its worth yesterday, the crypto market is up by practically 2% thus far right now.
The constructive efficiency has pushed the full cryptocurrency market cap above the $1 trillion mark once more.
Bitcoin stays above the $21k degree and will rally increased right now after including greater than 1% to its worth. Ether is buying and selling above $1,600 after relying its worth above the $1,500 psychological degree yesterday.
Nevertheless, ATOM is the second-best performer amongst the highest 30 cryptocurrencies by market cap (solely behind Bitcoin Money).
There isn’t a catalyst behind ATOM’s ongoing rally because it may very well be solely a restoration from its current worth crash. Regardless of including greater than 12% to its worth right now, ATOM is down by 1% within the final seven days.
Key ranges to look at
The ATOM/USD 4-hour chart has turned bullish as Cosmos has been performing properly over the previous 24 hours.
The MACD line crossed into the constructive zone a number of hours in the past, indicating that ATOM is now not bearish.
The 14-day relative energy index of 60 exhibits that ATOM might enter the overbought area if the constructive momentum continues.
At press time, ATOM is buying and selling at $11.52. If the constructive momentum continues, ATOM might transfer previous the primary main resistance degree at $12.271 earlier than the tip of the day.
Nevertheless, ATOM would wish the assist of the broader market to achieve the $13.60 mark for the primary time since Could.