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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’s the potential cause for the sustained surge?
Speculations round Cosmos 2.0 might be attracting ATOM patrons. Cosmos 2.0 is anticipated to reinforce the interoperability, performance, and total Cosmos infrastructure. There isn’t a particular date for it. Nonetheless, the discussions are anticipated to rise in the course of the Cosmoverse 2022 occasion kicking up on September 28. The convention will even see extra facet occasions, together with the Osmos Dex and Loop Finance.
ATOM value response and prediction after Doji sign
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A Doji is a crucial value sign for a technical reader. It’s characterised by a candlestick exhibiting an equal or nearly the identical opening and shutting value. The candlestick conveys indecision between patrons and sellers.
After retracing from a excessive of $17, ATOM shaped a Doji sign on the minor help of $13. It signified a scarcity of directional bias. Since then, patrons have managed to outwit the sellers as the worth shot up.
Supply – TradingView
From the technical outlook, a Doji sign on the minor help took ATOM to $15. The value is experiencing some resistance. The MACD indicator exhibits a waning momentum in value.
Concluding ideas
ATOM stays in a robust bullish momentum. A Doji sign on the help adopted by a value surge confirmed a bullish momentum. The cryptocurrency is dealing with resistance, and a possible retracement may happen. Traders ought to take into account shopping for on a retracement probably at or near $13.