ATOM Price turns Green as bulls take over crypto market
Most of the crypto is down but Cosmos (ATOM) price is up, BTC, ETH, and most altcoins sold off heavily as the Merge began, but ATOM turn green.
The reason for this week's downfall the merge is over and in its wake bulls are left holding a whole lot of nothing it's likely that a new bullish narrative will need to merge, or analysts will need to keep a close eye on smart money to see what assets they elect to rotate into.
So now that it's over, what's the new narrative? Surge, verge, purge, or splurge? Maybe dirge?— Galois Capital (@Galois_Capital) September 15, 2022
The live Cosmos price today is $14.99 with a 24-hour trading volume of $854,258,807. ATOM to USD price in real-time. Cosmos is up 10.76% in the last 24 hours. The current CoinMarketCap ranking is #21, with a live market cap of $4,293,023,203 USD. It has a circulating supply of 286,370,297 ATOM coins.
Price statistics of ATOM 24h change is $1.50 as well 24h low is $13.30 and 24h High is $15.42 with 0.45% Market Dominance.
The current reality is a market painted in a bright shade of red. Bitcoin dropped below $20,000 on the 15th Sep. there isn't an easily graspable story for investors to interpret as bullish.
Cosmos(ATOM) it's one of the few green assets on the graph on Merge day. now the altcoin reflects a 9.4% gain and has rebounded strongly off its Sept 14 low at $13.19.
ATOM Price trades within a descending channel riding above the 20-day moving average and suggesting that dips to and under the moving average.
ATOM price spike continues while trading within the trendlines of ascending channel.
ATOM Price tapping the 200-day moving average and then correcting back to the 20-MA channel to confirm support.
Right now ATOM staking offers a 17.75% APY and according to Staking rewards 66.75% of the available circulating supply is being staked. Cosmos is launch liquid staking which when deployed in other DeFi platforms on other blockchain result in increased buy pressure on the ecosystem native token.