Crypto traders may simply need to give attention to the highest ten cash and tokens by market cap and neglect the remaining. Nonetheless, drastic modifications are unfolding in comparatively smaller however nonetheless vital initiatives as nicely. One instance of this was Cosmos [ATOM], which was the #25 greatest crypto by market cap on the time of writing.
At press time, ATOM was changing hands at $18.57, after climbing by 5.57% prior to now day. Nonetheless, the coin misplaced 14.63% of its worth prior to now week.
Placing ATOM beneath the microscope
Whereas ATOM volumes had been a great distance down from the surges recorded even after the market crashes in December 2021 and January 2022, it’s vital to notice that since 25 April, ATOM volumes have not less than been constant. This can be a good signal of constant buying and selling exercise.
Supply: Santiment
Diving into builder metrics, we will see that growth exercise on Cosmos has been steadily climbing. Whereas it had fallen round press time, the community has traditionally seen quick and tall recoveries. This can be a wholesome signal for individuals who need to see long-term progress.
Supply: Santiment
Lastly, it’s vital to check out weighted sentiment information for the asset. Mid-April noticed traders coming down from euphoric spikes as ATOM’s value fell. Since then, nonetheless, weighted sentiment has been beneath zero. This sustained negativity may very well be simply what the asset must see a protected rally once more.
Supply: Santiment
Blink and also you’ll miss it
So what may the longer term maintain for ATOM? Whereas even analysts can by no means make sure, a take a look at TradingView’s Relative Volatility Index [RVI] confirmed that the indicator recorded a price beneath 50 and was pointing downwards. This can be a signal that future volatility may take the asset’s value decrease.
Including to that, the Superior Oscillator [AO] indicator was flashing crimson bars beneath the zero line. This means that regardless of a smattering of inexperienced candles, bearish momentum appears extra probably the place ATOM is anxious.
Supply: TradingView
