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ATOM is without doubt one of the finest performers amongst the highest 30 cryptocurrencies by market cap immediately.
ATOM, the native token of the Cosmos ecosystem, is without doubt one of the finest performers amongst the highest 30 cryptocurrencies by market cap immediately. The coin has added greater than 12% to its worth immediately, outperforming the broader crypto market.
The cryptocurrency market is slowly recovering immediately, following a gradual begin to the week. After dropping greater than 3% of its worth yesterday, the crypto market is up by practically 2% to this point immediately.
The optimistic efficiency has pushed the entire cryptocurrency market cap above the $1 trillion mark once more.
Bitcoin stays above the $21k degree and will rally greater immediately after including greater than 1% to its worth. Ether is buying and selling above $1,600 after relying its value above the $1,500 psychological degree yesterday.
Nevertheless, ATOM is the second-best performer amongst the highest 30 cryptocurrencies by market cap (solely behind Bitcoin Money).
There isn’t a catalyst behind ATOM’s ongoing rally because it might be solely a restoration from its current value crash. Regardless of including greater than 12% to its worth immediately, ATOM is down by 1% within the final seven days.
Key ranges to look at
The ATOM/USD 4-hour chart has turned bullish as Cosmos has been performing effectively over the previous 24 hours.
The MACD line crossed into the optimistic zone just a few hours in the past, indicating that ATOM is not bearish.
The 14-day relative power index of 60 exhibits that ATOM may enter the overbought area if the optimistic momentum continues.
At press time, ATOM is buying and selling at $11.52. If the optimistic momentum continues, ATOM may transfer previous the primary main resistance degree at $12.271 earlier than the top of the day.
Nevertheless, ATOM would want the assist of the broader market to succeed in the $13.60 mark for the primary time since Could.
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