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Cosmos token has maintained an uptrend since June.
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There are speculations for a higher utility of ATOM with Cosmos 2.0.
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ATOM is a purchase however anticipating a retracement.
Cosmos ATOM/USD has been one of many strongest cryptocurrencies these days. Since mid-June, the cryptocurrency has maintained a system of upper highs and better lows. ATOM can also be but to interrupt under the 50-day shifting common since July. What is the attainable motive for the sustained surge?
Speculations round Cosmos 2.0 might be attracting ATOM consumers. Cosmos 2.0 is predicted to reinforce the interoperability, performance, and general Cosmos infrastructure. There isn’t any particular date for it. However, the discussions are anticipated to rise in the course of the Cosmoverse 2022 occasion kicking up on September 28. The convention can even see extra facet occasions, together with the Osmos Dex and Loop Finance.
ATOM worth response and prediction after Doji signal
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A Doji is a vital worth signal for a technical reader. It is characterised by a candlestick displaying an equal or nearly the identical opening and shutting worth. The candlestick conveys indecision between consumers and sellers.
After retracing from a excessive of $17, ATOM fashioned a Doji signal on the minor assist of $13. It signified a lack of directional bias. Since then, consumers have managed to outwit the sellers as the value shot up.
Source – TradingView
From the technical outlook, a Doji signal on the minor assist took ATOM to $15. The worth is experiencing some resistance. The MACD indicator reveals a waning momentum in worth.
Concluding ideas
ATOM stays in a robust bullish momentum. A Doji signal on the assist adopted by a worth surge confirmed a bullish momentum. The cryptocurrency is dealing with resistance, and a potential retracement might happen. Investors ought to contemplate shopping for on a retracement probably at or near $13.
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