Cosmos' ATOM token finally delivered on the hopes and dreams of many an investor today with a 25% increase to break $30, quickly approaching it's next level up from its mid-February high of 26.688. The project bills itself as the Internet of Blockchain and aims itself to be a critical piece of the interoperability puzzle. It's main competition is found in Polkadot and Solana. Based on the valuation of Polkadot, Cosmos' ATOM* token is significantly undervalued. Based on Polkadot, Cosmos could potentially be a $150-$180 token based on market cap. Bulls expect far more price action from here and 2021 looks to be a huge year for the project.
Based on the local highs and lows, the first major zone of support for ATOM will be found at $36 and a breakout above this level could send price flying to $48. ATOM can look for support at $28 and $26 on a retracement from the breakout.
Take note of the sudden, dramatic reversal in the MACD.
Here is a snapshot of the 1H A/D chart.
And then a zoom out - notice the trend line going back to the beginning of the year and another sign of impending price gains, people are accumulating these tokens at a steady pace.
ATOM Staking:
Tokens Staking
186,519,163.04
% Network Staking
93.88%
Real Annualized Staking Yield
1.64%
ATOM Supply:
Liquid Supply
275,973,868.38
Reported Supply
210,641,905.24
Y+10 Supply
568,511,432.37
Y2050 Supply
2,192,096,427.80
% Y+10 Supply Liquid
48.54%
% Y2050 Supply Liquid
12.59%
Liquid Inflation Rate
7.49%
Stock To Flow
13.34
(Not financial advice, please DYOR.)
