{"id":205497,"date":"2021-12-08T15:00:12","date_gmt":"2021-12-08T09:30:12","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=205497"},"modified":"2021-12-08T11:17:19","modified_gmt":"2021-12-08T05:47:19","slug":"can-atoms-avax-like-trajectory-save-the-day-for-the-altcoin","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/can-atoms-avax-like-trajectory-save-the-day-for-the-altcoin\/","title":{"rendered":"Can ATOM\u2019s AVAX-like trajectory save the day for the altcoin"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The recent flash crash brought the larger market to its knees. It also brought down the total crypto market cap by almost 15%, with the same falling to $2.3 trillion. In fact, barring some altcoins, most of the market seemed to be flashing red signals. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cosmos, however, presented a rather curious case after it resisted the market fall initially. But then, its price soon gave in and recorded losses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As reported in a previous article, for ATOM, the dip came a little late. Basically, its price held well while the larger market tumbled. On 3 and 4 December, ATOM\u2019s price spiked by close to 30%. However, losses soon followed and the crypto fell below the crucial $25.5 support\/resistance mark.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now, the pertinent question here is &#8211; With the coin oscillating at $25.38, at the time of writing, presenting 11.12% daily gains, where could ATOM go from here?<\/span><\/p>\n<h4><b>The price pump evaluation<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Over the previous year, Cosmos&#8217;s ecosystem has seen rapid expansion with inter-blockchain transfers on the rise. An upsurge in transaction volumes on the blockchain could be credited to the creation of more DApps. Also, an increase in the number of chains connected via IBC over the last month. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, projects like Terra built on Cosmos SDK and Crypto.com Coin have also registered significant growth over the past month.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from the extensive network of credible blockchains running on Cosmos, its supply dynamics add further cushion to the price. Also, over 63% of ATOM&#8217;s total supply is staked, creating circulating token scarcity which plays a key role in driving buyers into the market.\u00a0<\/span><\/p>\n<figure id=\"attachment_205500\" aria-describedby=\"caption-attachment-205500\" style=\"width: 1317px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/Messari637.png\"><img decoding=\"async\" class=\"wp-image-205500 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/Messari637.png\" alt=\"\" width=\"1317\" height=\"261\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/Messari637.png 1317w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/Messari637-300x59.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/Messari637-1024x203.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/Messari637-768x152.png 768w\" sizes=\"(max-width: 1317px) 100vw, 1317px\" \/><\/a><figcaption id=\"caption-attachment-205500\" class=\"wp-caption-text\">Source: Messari<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This bullish supply-demand dynamic has aided the token\u2019s rise by over 300%, from its June low of around $8 to $25, at the time of writing.\u00a0<\/span><\/p>\n<h4><b>What\u2019s interesting about the price?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">ATOM\u2019s price, after holding well for a couple of days, recorded a swift fall. But, with gains coming in at the time of writing, ATOM\u2019s recovery could be swifter. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Interestingly, pseudonym analyst Bluntz notes a similarity between ATOM and AVAX\u2019s price structures, anticipating that ATOM could rally north. According to the analyst, the crypto presented a similar trajectory that AVAX had during the beginning of this year.\u00a0<\/span><\/p>\n<figure id=\"attachment_205501\" aria-describedby=\"caption-attachment-205501\" style=\"width: 1754px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/36b15976-6500-405e-9064-cb4a3bccd3c4.jpeg\"><img decoding=\"async\" class=\"wp-image-205501 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/36b15976-6500-405e-9064-cb4a3bccd3c4.jpeg\" alt=\"\" width=\"1754\" height=\"1699\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/36b15976-6500-405e-9064-cb4a3bccd3c4.jpeg 1754w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/36b15976-6500-405e-9064-cb4a3bccd3c4-300x291.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/36b15976-6500-405e-9064-cb4a3bccd3c4-1024x992.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/36b15976-6500-405e-9064-cb4a3bccd3c4-768x744.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/12\/36b15976-6500-405e-9064-cb4a3bccd3c4-1536x1488.jpeg 1536w\" sizes=\"(max-width: 1754px) 100vw, 1754px\" \/><\/a><figcaption id=\"caption-attachment-205501\" class=\"wp-caption-text\">Source: Bluntz Twitter<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Bluntz also noted an interesting fractal between the two trajectories. The analyst observed that AVAX rallied in a similar setup, by nearly 250% after finding solid support around the $50 to $60 support zone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That being said, <\/span><a href=\"https:\/\/coinalyze.net\/cosmos\/open-interest\/\"><span style=\"font-weight: 400;\">ATOM\u2019s Futures and Perpetuals markets<\/span><\/a><span style=\"font-weight: 400;\"> looked bright as Open Interest spiked by 10.32% and 6.03%, respectively. With this rise in the open interest, the growth in the Futures market could push spot prices.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even so, one must be wondering, will ATOM make a good investment at this point? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Well, while ATOM\u2019s prospects of picking up pace look good, its price needs a retail push above the $30-mark. ATOM\u2019s trade volumes still don&#8217;t suggest retail euphoria and a return of retail interest could reignite the alt\u2019s rally. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recent flash crash brought the larger market to its knees. It also brought down the total crypto market cap by almost 15%, with the same falling to $2.3 trillion. In fact, barring some altcoins, most of the market seemed to be flashing red signals. Cosmos, however, presented a rather curious case after it resisted<a href=\"https:\/\/ambcrypto.com\/can-atoms-avax-like-trajectory-save-the-day-for-the-altcoin\/\">Continue reading <span class=\"sr-only\">&#8220;Can ATOM\u2019s AVAX-like trajectory save the day for the altcoin&#8221;<\/span><\/a><\/p>\n","protected":false},"author":42,"featured_media":205532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-205497","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Can ATOM\u2019s AVAX-like trajectory save the day for the altcoin - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Over the previous year, Cosmos&#039;s ecosystem has seen rapid expansion with inter-blockchain transfers on the rise. An upsurge...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/can-atoms-avax-like-trajectory-save-the-day-for-the-altcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can ATOM\u2019s AVAX-like trajectory save the day for the altcoin - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"The recent flash crash brought the larger market to its knees. 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