Wyckoff Analysis (WA) aims to understand why prices of stocks and other market items move due to supply and demand dynamics. It typically is applied to any freely traded market where larger or institutional traders operate (commodities, bonds, currencies, etc.). In this article we will apply WA to the cryptocurrency Cosmos ($ATOM) to make a…
Cosmos’s native token ATOM has surged more than 38 percent in the last five days, validating a textbook technical indicator that now predicts additional 70 percent gains for the cryptocurrency. ATOMUSD breaks out of its Falling Wedge pattern. Source: TradingView.com ATOMUSD breaks out of its Falling Wedge pattern. Source: TradingView.com As shown in the chart…
A day after the much-anticipated Merge, many cryptocurrencies have lost more than they gained. The entire market is red, and even the top performers are not showing signs of price gains. Many investors predicted a downtrend reversal after Ethereum’s upgrade to a proof-of-stake mechanism. But right now, the reverse is the case. For instance, the…
ATOM has ascended to the summit of network activity within the inter-Blockchain ecosystem. However, upon closer inspection, the narrative surrounding Cosmos unveils a more nuanced story. Despite the accolade of being at the forefront of blockchain network activity, a discerning analysis reveals a dip in actual user engagement and transaction volumes. Surprisingly, against the backdrop…
ATOM, the native token of interoperable blockchain Cosmos, was on a roller coaster ride in the last 24 hours. The 17th-largest cryptocurrency by market capitalization surged by almost 35 percent in the said timeframe as it established a record high at $8.67. The ATOM/USD exchange rate grew more influential on traders’ increasing appetite for decentralized…
Cosmos (ATOM) has been on a remarkable rally over the past few days in spite of the price of Bitcoin stalling and actually undergoing a bearish reversal. The popular altcoin has gained 25% in the past 24 hours alone, setting a new all-time high price. Analysts say the rally in the price of this altcoin…