đHuobi x CoinMarketCal, A Coin To Keep An Eye On ATOM!
The Cosmos (ATOM) is a cryptocurrency that is positioning itself as a decentralized network of independent blockchains that operate on the basis of Byzantine fault tolerance algorithms (BFT). Tendermint BFT is a byzantine fault-tolerant consensus engine that powers Cosmos Proof-of-Stake. These blockchains interact with each other through the Cosmos network, called the âInternet of blockchains.â Cosmos Hub is the first blockchain launched in Cosmos, and its main task is to interconnect other blockchains in the ecosystem. Tokens can be safely and quickly transferred from one blockchain to another within the Cosmos Hub.
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đ Event:Feb 18th â Stargate Upgrade ,planned for Jan 28th is now set for Feb.18th via coinmarketcal.
đAnalysis
ATOM exploded over 84% from the monthly open to tag the 100% extension near $15.
This level could continue to provide resistance, although early Mondayâs trading suggests that the 68% extension near $13.50 could be turning from resistance to support.
A drop to the daily gap beginning at $11.265 could provide an excellent entry for traders who canât watch intraday price action. If this gap fills, the zone between $9.50 and $9.00 provides the next logical support.
Technical analysis canât predict a final target, but the 168% and 200% extensions near $18.506 and $20.116 are likely to provide significant resistance. Traders planning to take profits along the way can also watch the 127% extension near $16.444.
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