The market may have lost overall but a few coins were able to bounce up by 6% in the red-hot crypto world. It was said that the popular cryptocurrency, Cosmos (ATOM), has been gradually making its way towards a $1 billion valuation and will reach it soon enough.
The “can atom reach $100” is a question that has been posed many times. The price of the cryptocurrency, Cosmos (ATOM), has shifted up 6% in the past day as the rest of the market trades in the red.
Instead of a strong rally, the cryptocurrency market has encountered a brick wall, with prices trying to rise only to be halted by a world-wide negative wave. Among course, some companies recovered faster than others, and Cosmos (ATOM) is one of them.
While the coin’s price did fall after the rise that ended just after Christmas, unlike most others, ATOM is already on the mend. At the very least, it is one of just a few coins whose price has increased in the recent 24 hours.
History of the price of Cosmos
Cosmos is a project that launched its currency, ATOM, in mid-March 2019. The crypto winter was coming to an end at the moment, and a series of price recoveries were about to begin, but it didn’t stop the coin’s value from plummeting almost immediately after introduction.
While ATOM started online on March 15th with a price of $7.5, it decreased to $3.44 just 8 days later, on March 23rd. Following that, the coin attempted a series of comebacks, fluctuating for the next month and a half between this bottom and a resistance level at $5.5.
In June 2019, prices began to recover more aggressively, and ATOM was able to reach a high of $7. Unfortunately, this was followed by a major price rejection, which caused it to crash to $2 in early September, marking a new low.
After then, the coin progressively grew over the next five months, despite the fact that each step was a difficulty and a battle. It hit a resistance level of $5 in early 2020, and it was striving to break through until mid-March.
The market slump induced by COVID-19 worries pushed it back down to $2.5 in early July 2020, and it wasn’t until then that ATOM prices began to rise again. This increase, though, propelled it to a new all-time high of $8.5. Naturally, the price corrected to $4 in early September after achieving this milestone, and although it made a few efforts at growth, it ran into significant resistance around $6, which kept it from going back up.
In 2021, ATOM will be released.
In 2021, however, things became a lot more dynamic for ATOM. In the first few months of the year, the largest bull run in crypto history propelled Bitcoin above $60,000, and the rest of the market followed behind. By mid-February 2021, ATOM, which had earlier failed to break through a barrier at $6, was attempting to break through a resistance at $26. It also reached a new low of $18, where it usually falls between late February and late April.
It reached a new all-time high in early May, but a price collapse in mid-May brought it back down to a support level of $12. After months of struggle, the currency began to witness a spike in late July, resulting in yet another new all-time high, which ATOM hit on September 19th, this time reaching $45.
It wavered between this resistance and a support at $32 for the following three months, eventually decreasing to $21 by mid-December. However, as the month came to a close, ATOM experienced a last surge that sent it up $11, back to a resistance level of $32, which it instantly rejected after Christmas. The coin’s 6% recovery in the last 24 hours indicates that it is attempting to return to $32 and challenge this resistance once more, though it must first breach the one at $28 and turn this level into a support.
Cosmos is now trading around $28.15, but it has yet to shown that this level will act as a new support, preventing it from falling further.
Visit our Investing in Cosmos guide to learn more about this coin.
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The “atom crypto price prediction” is a cryptocurrency that has been bouncing up 6% as the rest of the market trades in the red. The coin had an initial value of $0.01 and is now worth $0.013, with a market cap of $17 million.
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