ATOM | Macro Analysis
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Let's start with what COSMOS (ATOM) actually is.
Cosmos is a Proof-of-Stake Layer 0 blockchain, that solves the problems of Scalability, Usability, Sovereignty. In a nutshell, it's the base layer for other blockchains.
The Cosmos Network is a decentralised ecosystem of independent blockchains that can scale and connect with one another.
The world's most used framework for building blockchains is Cosmos SDK. Developers have built hundreds of blockchain projects on Cosmos, including BNB, CRO, RUNE, ROSE, OSMOS and many more. So, it's a fundamental, very solid project that have a bright future.
Now let's talk about price.
ATOM had a steady Uptrend from March 2020 to December 2021. This Impulse unfolded in 5 waves (black 1-5).
In February ATOM broke that Multi Year Uptrend and perfectly retested it in April. Rejection there kicked off the impulsive Wave 3 that took us down to $5.5
We're currently in a corrective wave (4) of that impulsive Wave 3. As we see the ‘Sell the Bounce’ Zone was perfectly touched this week. (Would be ideal to get a test of the 0.618 Fib and rejection there).
The last Wave down (5) is yet to get unfolded. I think it will take the price of ATOM to my Buy Zone between $3.5-4.9 (right where we have the 0.618 Fib from the low to high). That's my main buy zone for the Long term.
There's a stinky bid around that 0.786 Fib just in case. Would be sweet to buy ATOM that cheap.
A sneak peek of the Accumulation, New Uptrend & its Target (just my opinion)
I hope you liked my analysis. What do you think about it? Please do share your thoughts in the comments!
If you like the idea, please, hit the Boost button and subscribe to the profile in order not to miss updates
The information given is never financial advice. Always do your own research
Let's start with what COSMOS (ATOM) actually is.
Cosmos is a Proof-of-Stake Layer 0 blockchain, that solves the problems of Scalability, Usability, Sovereignty. In a nutshell, it's the base layer for other blockchains.
The Cosmos Network is a decentralised ecosystem of independent blockchains that can scale and connect with one another.
The world's most used framework for building blockchains is Cosmos SDK. Developers have built hundreds of blockchain projects on Cosmos, including BNB, CRO, RUNE, ROSE, OSMOS and many more. So, it's a fundamental, very solid project that have a bright future.
Now let's talk about price.
ATOM had a steady Uptrend from March 2020 to December 2021. This Impulse unfolded in 5 waves (black 1-5).
In February ATOM broke that Multi Year Uptrend and perfectly retested it in April. Rejection there kicked off the impulsive Wave 3 that took us down to $5.5
We're currently in a corrective wave (4) of that impulsive Wave 3. As we see the ‘Sell the Bounce’ Zone was perfectly touched this week. (Would be ideal to get a test of the 0.618 Fib and rejection there).
The last Wave down (5) is yet to get unfolded. I think it will take the price of ATOM to my Buy Zone between $3.5-4.9 (right where we have the 0.618 Fib from the low to high). That's my main buy zone for the Long term.
There's a stinky bid around that 0.786 Fib just in case. Would be sweet to buy ATOM that cheap.
A sneak peek of the Accumulation, New Uptrend & its Target (just my opinion)
I hope you liked my analysis. What do you think about it? Please do share your thoughts in the comments!
If you like the idea, please, hit the Boost button and subscribe to the profile in order not to miss updates
The information given is never financial advice. Always do your own research
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