Cosmos（ATOM）is expected to rebound by 50% after the recent big dump, with analysts targeting a price of $12.
The cryptocurrency market is full of hope, as the recent rise of Bitcoin and today's Ethereum ETF launch are seen as creating a positive wave. In this busy environment, Cosmos (ATOM) is a cryptocurrency showing huge breakthrough potential in the field of encryption.
Despite ATOM staying stable and slightly increasing by 1.23% compared to the previous week, as well as experiencing a 4% decrease in the past 30 days, experts believe that ATOM is about to see a significant increase. ATOM's market position is noteworthy, currently valued at $6.23 with a market capitalization of $2.5 billion and a 24-hour volume of $235 million. Despite a 0.54% drop in the past 24 hours, the current market sentiment seems positive, making it a good opportunity for ATOM to make money.
Renowned Bitcoin expert Jonathan Carter emphasized the fascinating technical configuration of Cosmos. He pointed out on the daily chart that ATOM is forming a falling wedge pattern, which is sometimes interpreted as a bullish signal.
This trend indicates that ATOM is gaining momentum and breaking through its downward resistance line, a key position traditionally characterized by strong selling pressure.
If ATOM can overcome this barrier, there may be a significant rise trend. Carter has set four important price targets for ATOM: the initial target is $7.25, followed by $8.85, and if the bullish trend continues, it may reach as high as $12.15. For those who lead the breakthrough, these targets mean considerable profits.
All long technical indicators indicate this positive view. The volume rise and optimistic divergence of the momentum indicator (relative strength index) suggest a possible breakthrough. Traders closely monitor these indicators, and once they break the resistance level, they are likely to start buying frantically.
The data shows that ATOM is expected to rise in the next seven days, indicating a good momentum in the near future. The recent performance of ATOM has shown a slight undervaluation, which means that investors may have the opportunity to buy because the current trading price is about 1.50% lower than the expected value next month.
Looking ahead, the six-month growth forecast for ATOM is a strong 58%; the one-year forecast shows an astonishing growth rate of 108%. This long-term forecast highlights confidence in the stability and potential for significant growth of ATOM in the market.
As the Bitcoin community rides a strong momentum and eagerly awaits the impact of the Ethereum ETF, Cosmos (ATOM) stands out. Cosmos is expected to attract attention in the altcoin market as it has the ability to surpass current price levels and generate significant growth.
When traders and investors are looking for interesting prospects in the market, ATOM is worth special attention. For Cosmos, the next few weeks could be crucial as they will allow it to break through and reach unprecedented heights.
(Data Source: Christian Encila)
