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ATOM is one in all the greatest performers amongst the prime 30 cryptocurrencies by market cap today.
ATOM, the native token of the Cosmos ecosystem, is one in all the greatest performers amongst the prime 30 cryptocurrencies by market cap today. The coin has added more than 12% to its worth today, outperforming the broader crypto market.
The cryptocurrency market is slowly recovering today, following a sluggish begin to the week. After dropping more than 3% of its worth yesterday, the crypto market is up by almost 2% to date today.
The optimistic efficiency has pushed the complete cryptocurrency market cap above the $1 trillion mark once more.
Bitcoin stays above the $21k stage and will rally greater today after including more than 1% to its worth. Ether is buying and selling above $1,600 after relying its value above the $1,500 psychological stage yesterday.
However, ATOM is the second-best performer amongst the prime 30 cryptocurrencies by market cap (solely behind Bitcoin Cash).
There is no catalyst behind ATOM’s ongoing rally as it could possibly be solely a restoration from its latest value crash. Despite including more than 12% to its worth today, ATOM is down by 1% in the final seven days.
Key ranges to look at
The ATOM/USD 4-hour chart has turned bullish as Cosmos has been performing effectively over the previous 24 hours.
The MACD line crossed into the optimistic zone just a few hours in the past, indicating that ATOM is now not bearish.
The 14-day relative power index of 60 reveals that ATOM may enter the overbought area if the optimistic momentum continues.
At press time, ATOM is buying and selling at $11.52. If the optimistic momentum continues, ATOM may transfer previous the first main resistance stage at $12.271 earlier than the finish of the day.
However, ATOM would want the assist of the broader market to succeed in the $13.60 mark for the first time since May.
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