Cosmos Price Surges by 5% Amidst Increased Trading Volume
The Cosmos price has seen a 5% surge in the last 24 hours, reaching $11.22, while trading volume has increased by over 176% to $770.8 million.
Despite the recent bearish trend in the crypto market, ATOM’s price remains 10% higher than it was a week ago.
Notably, Bitcoin has experienced a 6% drop in the last seven days as ATOM’s price surged.
Traders are intrigued by ATOM’s decoupling from Bitcoin, which has caught the attention of the entire crypto sector.
Various analysts, including a pseudonymous crypto strategist named Altcoin Sherpa, have started making predictions about ATOM’s price.
$ATOM: Coins like #ATOM are laggards but finally waking up a bit. Probably going to keep an eye on this one and expect $15 to come if btc plays nice. pic.twitter.com/hl7QGJZLZT
— Altcoin Sherpa (@AltcoinSherpa) December 12, 2023
According to Altcoin Sherpa, ATOM may surge to around $15, which would be its highest price since mid-February.
Cosmos Price Forecast
Although ATOM’s current price is lower than its weekly high of $12.26, the market displays a bullish sentiment towards the popular cryptocurrency.
Altcoin Sherpa believes that coins like ATOM usually lag behind the market but are now showing signs of awakening.
With ATOM breaking out of its accumulation range between $8 and $9, it might be heading towards its next major resistance level at $15.40.
The coin’s wide Bollinger bands signal a bullish trend, and its RSI score suggests that it is leaving the oversold territory.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.