Altcoin Thursday: ATOM


12 AUG 2021 | ZebPay Trade-Desk

Cosmos is a decentralized network of parallel independent blockchains, all powered by BFT consensus algorithms. Cosmos enables an ecosystem that can scale and integrate blockchains, through zones and provide a highly efficient, consistent, and secure infrastructure to transact.

Cosmos is working to solve scalability, interoperability, and usability limitations in blockchain technology, using lightning-fast and easy-to-deploy solutions. It provides secure P2P infrastructure, using Tendermints authentication system and is a 100% open source, that enables the Cosmos network to act as the ‘internet of blockchains’.

Atom is the native cryptocurrency token of the Cosmos Network.

As per the weekly chart, Atom post making ‘Hammer’ candle at $8.92 has surged by almost 65% by forming a ‘Higher Top Higher Bottom’ pattern up to $14.62. The asset has a strong resistance around $15 to $17. We can expect some profit booking from these levels. If the Breakout or close occurs above the resistance with good volumes then we may see Atom further rally up to the $25 mark.

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