Cosmos' ATOM token finally delivered on the hopes and dreams of many an investor today with a 25% increase to break $30, quickly approaching it's next level up from its mid-February high of 26.688. The project bills itself as the Internet of Blockchain and aims itself to be a critical piece of the interoperability puzzle. It's main competition is found in Polkadot and Solana. Based on the valuation of Polkadot, Cosmos' ATOM token is significantly undervalued. Based on Polkadot, Cosmos could potentially be a $150-$180 token based on market cap. Bulls expect far more price action from here and 2021 looks to be a huge year for the project.
Based on the local highs and lows, the first major zone of support for ATOM will be found at $36 and a breakout above this level could send price flying to $48. ATOM can look for support at $28 and $26 on a retracement from the breakout.
Take note of the sudden, dramatic reversal in the MACD.
Here is a snapshot of the 1H A/D chart.
And then a zoom out - notice the trend line going back to the beginning of the year and another sign of impending price gains, people are accumulating these tokens at a steady pace.
% Network Staking
Real Annualized Staking Yield
% Y+10 Supply Liquid
% Y2050 Supply Liquid
Liquid Inflation Rate
Stock To Flow
(Not financial advice, please DYOR.)