PRO_SMART_Trader

Cosmos Network (ATOMUSD) analysis

KRAKEN:ATOMUSD   ATOM / USD
❇️Cosmos Network (ATOM)
A Decentralized Network Of Interoperable Blockchains(Internet of Blockchains)
Cosmos is a network connecting many independent distributed ledgers (e.g., Ethereum , Bitcoin ) to achieve interoperability across blockchains. Its goal is to "create an Internet of Blockchains", i.e., "a network of blockchains where each participant is able to communicate with each other in a decentralized way".
Cosmos is built on a set of independent blockchains referred to as zones, which are powered by the Tendermint Core consensus mechanism - a Byzantine Fault Tolerance ( BFT ) consensus mechanism used to scale public Proof-of-Stake ( PoS ) blockchains.
Defined as a "blockchain 3.0"
With these pieces in place, Cosmos is a well-built machine that can easily compete in the modern blockchain market. If the team negotiates a large third-party dApp library and gains enterprise buy-in, this could be a sleeping giant in blockchain.
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❇️Technical analysis
ATOM/USD is part of a strong bullish trend & fluctuating in an upward channel. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above ema200. The next resistance located at 5.58 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 7 USD then at the end of chanel 11.8 USD . With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend . Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, if you want to take a position be cautious & set up your stop-loss because bearish correction could continue for a while until begin a bullish movements.
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.

Comments

thanks!
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@Kobzar666, tanx for ur feedback!
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