Cosmos Price Prediction 2021 – Will Cosmos (ATOM) Hit $50 in 2021?

This Cosmos Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ATOM price analysis and prediction.

Among the cryptocurrencies that are spiking high this year, ATOM is perhaps one of the most surprising for some. It is not directly connected to the cryptocurrency king Bitcoin, nor is it the most hyped digital currency today. But for those that are aware, ATOM has been around since 2020.

Can ATOM reach $50 in 2021? We will find out shortly. But before we proceed to our ATOM price prediction, let us first answer the question “What is Cosmos (ATOM)?” in this ATOM prediction 2021 article.

What is Cosmos (ATOM)?

Cosmos defines itself as a project that solves few of the hardest problems facing the blockchain industry. More so, it focuses on providing an antidote to slow, expensive, unscalable, and harmful proof-of-work protocols, like those utilized by Bitcoin through offering an ecosystem of connected blockchains.

Cosmos’s native token ATOM, reached its new ATH of $32 on Mar 07, 2021. Even more, since then the coin has faced many obstacles.

Now that we have an idea about ATOM, do you think ATOM will be profitable crypto in 2021? Join me and let us see the charts in this ATOM price prediction.

Cosmos Current Market Status

As of the time of writing this Cosmos price analysis, ATOM trades at $13.52 with a 24-hour trading volume of $$265,115,648, according to CoinGecko. The price of ATOM has decreased by 1.45% in the last 24 hours.

Furthermore, ATOM has a current circulating supply of 210,767,262.76 ATOM. Currently, the top cryptocurrency exchanges for ATOM are Binance, Huobi Global, Coinbase, KuCoin, Kraken, and Gate.io. Now, let’s proceed to the next part of this ATOM price prediction for 2021.

Cosmos Showing Falling Wedge Pattern

Currently, ATOM holds 39th place on CoinGecko. But will the latest upgrades, development, and changes in the ATOM blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this ATOM price prediction article.

In the daily frame chart shown above, we can see the Falling Wedge Pattern, which is a bullish signal. Moreover, this could immediately proceed to a price breakout. More so, the falling wedges slopes down and have a bullish bias.

However, this bullish bias cannot be analysed until a resistance breakout occurs. As a continuation pattern, the falling wedge will slope down even more, but the slope will stay against the predominant upward signal. As a reversal pattern, the falling wedge slopes down and with the prevailing trend.

Cosmos Price Prediction 2021

The chart below shows that ATOM has performed great over the past few days. Moreover, if this trend continues, ATOM might run along with the bulls, overtaking its $32 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone ATOM from its uptrend position. In simpler terms, the price of ATOM might plummet to almost $1.13, a bearish signal.

Meanwhile, our long-term ATOM price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $32.14 this year. However, that will only take place if it breaks many past psychological resistances.

As shown above, at the beginning of this month, ATOM turned from its bull to bear trend. This happens at the end of the huge trade volume that happened in that period.

Cosmos RSI, MA and EMA

Let us also look at the Relative Strength Index (RSI), Simple Moving Average (SMA), and the Exponential Moving Average (EMA) of ATOM.

The Relative Strength Index (RSI) is above 42, which means that ATOM is in a nearly oversold state. Hence, this may move forward to a price reversal at any given time. 

Therefore, traders must trade crypto cautiously and must not be damaged by the market hype. With all this in mind, traders can move away from unexpected losses due to the crypto markets many wild swings.

Since the start of 2021, ATOM’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, ATOM has a competitive market this 2021.

Conclusion

ATOM has a bright future ahead of it in 2021. With the ongoing developments happening within the ATOM ecosystem, as well as in the overall crypto market, we may see ATOM reach new heights. Bullish ATOM price prediction 2021 is $32. As said above, it may even reach $50 if investors have decided that ATOM is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/cosmos-atom-price-prediction-2021/