Cosmos (ATOM) Price Prediction 2023 – When will ATOM hit $100?

ATOM, the native token of the Cosmos blockchain, failed to make a bearish break of the structure while the broader crypto market was red in recent days. Bears could not breach the $20.00 barrier and get rejected with a bullish engulfing candle from the 25.20 support level on Thursday.

Cosmos project is supported by several fundamental factors that may show a price surge from upcoming airdrops and Cosmos-Polkadot bridge implementation. Previously, the Cosmos protocol was airdropped to stakers and provided a massive gain while other instruments have faced a nominal loss. 

Overall, the Cosmos blockchain has a strong presence in decentralized finance, where validators use proof-of-stake protocol to validate transactions. In that case, they lock up ATOM in nodes and use it as a tool to process transactions and earn rewards. Besides, Cosmos projects have additional yields to its users, like the automatic airdrop token. Since the EVMOS launch, EVM-compatible apps can be integrated into the Cosmos network, which is the biggest potentiality for ATOM to show a price surge in the coming days.

Cosmos (ATOM) Price Prediction Today showed a 73% surge in trading volume to $1,140,560,998 in the last 24 hours, while the circulating supply of this token is 286,370,297.00 ATOM.

So, Is Cosmos (ATOM) a good investment?

Let’s see the Cosmos (ATOM) price prediction from the ATOM Forecast:

Cosmos (ATOM) Shows A Strong Buyers’ Interest

 

 

In the ATOM/USDT daily chart, the price tested the 44.72 resistance level numerous times since the second half of 2021, signifying that there is enough liquidity above the price and bulls have a higher possibility of grabbing them by breaching the resistance level. Moreover, bears failed to breach the 20.00 key support level and formed a strong bullish rejection from the 25.50 level. Therefore, as long as the price trades above the 25.50 area, investors should find buying opportunities from the lower time frame.

This technical analysis shows how the price formed the engulfing candle on the daily chart from the 25.50 support level that eliminated the bearish price action of the previous trading day. Moreover, the buying pressure was backed by a breakout in the volume bar, even if the strength was not impressive. Meanwhile, the MACD Histogram is still in the bearish zone, where the shift in Histogram from bearish to bullish may increase the buying pressure.

As per the Cosmos Price Prediction, any buying opportunity from the current candle is likely to increase the price to the 33.90 level. On the other hand, a break below the 25.50 level might require a HODLing approach to find another buying opportunity from the 20.00 level. In both cases, a bullish daily candle above the dynamic 20 EMA might increase the buying pressure that may push bulls to breach the 44.72 key resistance level.

ATOM/USDT Ichimoku Cloud Analysis

 

 

According to the Ichimoku cloud in the H4 chart, the ATOM/USDT is still in the bearish zone and trading within the range between 30.00 high to 25.50 low. As the bullish candle closes with a buyers’ interest any bullish breakout from the H4 range would provide a highly accurate buying opportunity in this pair.

This technical analysis shows how the price trades above dynamic Tenkan Sen and Kijun Sen while the Traders Dynamic Index shows strong buyers’ interest in the indicator window. As the Senkou Span A is aiming higher in the future cloud and bullish H4 candle above the Kumo Cloud may increase the buying pressure towards 37.00 key resistance level.

Therefore, based on the H4 context, bulls should wait for the price to breach the 30.00 resistance level to take the price up while any selling pressure with a bearish H4 close below the dynamic Kijun Sen would lower the price towards the 25.50 level.

ATOM/USDT Intraday Price Action Analysis

 

 

According to the H4 price action, the broader market context is corrective where the break above the 30.00 resistance level would validate the double bottom pattern in the 25.50 support level.

The most recent bullish pressure took the price up above the dynamic 20 EMA with an impulsive bullish pressure while the MACD Histogram is bullish. Moreover, the potential divergence with MACD lines and price is another reason to rely on bulls.

Therefore, any bullish H4 close above the 30.00 level has a higher possibility of taking the price up above the 37.00 level where the 22% gaining opportunity is open. On the other hand, any bearish H4 candle below the weekly VWAP might extend the current correction.

Is Cosmos (ATOM) A Buy?

According to the Cosmos (ATOM) forecast, the overall market direction is bullish as the price rejected the 25.50 support level with a bullish daily candle. Therefore, any range breakout in the lower timeframe has a higher possibility of taking the price higher where the liquidity above the 44.72 level would be the ultimate target.

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