{"id":376163,"date":"2021-12-04T03:30:00","date_gmt":"2021-12-04T00:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/traders-say-atom-could-eventually-do-an-avax-like-surge-to-100\/"},"modified":"2021-12-04T03:30:00","modified_gmt":"2021-12-04T00:30:00","slug":"traders-say-atom-could-eventually-do-an-avax-like-surge-to-100","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/traders-say-atom-could-eventually-do-an-avax-like-surge-to-100\/","title":{"rendered":"# Traders say ATOM could eventually do an AVAX-like surge to $100"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2a88f92b33b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2a88f92b33b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-say-atom-could-eventually-do-an-avax-like-surge-to-100\/#Nearly_64_of_ATOMs_total_supply_is_staked\" >Nearly 64% of ATOM&#8217;s total supply is staked<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-say-atom-could-eventually-do-an-avax-like-surge-to-100\/#Avalanche_fractal_highlights_ATOMs_potential\" >Avalanche fractal highlights ATOM&#8217;s potential<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Traders say ATOM could eventually do an AVAX-like surge to $100 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Cosmos (ATOM) has the potential to record major gains in the upcoming weeks primarily because its longer-timeframe chart is showing a bullish continuation pattern.\u00a0<\/p>\n<p>Dubbed &#8220;bull flag,&#8221; the structure <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears as the asset trends lower while bouncing between two downward sloping trendlines. However, it eventually breaks out of the range, in the direction of its previous trend, with a profit target at length equal to the size of its previous uptrend which is also known as the flagpole.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/e5cf7422-51f4-4638-b126-3e82d21c1832.png\"><figcaption style=\"text-align: center;\"><em>ATOM\/USD weekly price chart featuring Bull Flag setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Therefore, in a &#8220;perfect&#8221; world, if ATOM is to break above the flag&#8217;s upper trendline (with a rise in trading volume), it may rise by as much as the flagpole&#8217;s height around $35. This sets a price target near $65 as when measured from the current potential breakout point.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nearly_64_of_ATOMs_total_supply_is_staked\"><\/span>Nearly 64% of ATOM&#8217;s total supply is staked<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The bullish setup in ATOM appeared as\u00a0the token rose over 330% from its June low\u00a0at $7.82 to this weeks swing high near near $32.<\/p>\n<p>Circulating token scarcity could be playing a role in driving buyers into the market. Data fetched by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/messari.io\/asset\/cosmos\/metrics\/staking\">Messari<\/a> showed that nearly 64% of the current ATOM supply is staked.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/74330174-73bc-43fb-94a1-a9bae9d6e2da.png\"><figcaption style=\"text-align: center;\"><em>ATOM staking data. Source: Messari<\/em><\/figcaption><\/figure>\n<p>According to data, Cosmos investors have staked over 180 million ATOM tokens to become validators on its &#8216;Cosmos Hub,&#8217; a proof-of-stake blockchain that constitutes one of many hubs on the network. In return, users receive\u00a0a portion of the network transaction fees and block rewards.<\/p>\n<p>Pentoshi, an independent market analyst, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1466629898512965632\">noted<\/a> that the rising number of staked ATOM tokens have been instrumental in pushing its price upward. <\/p>\n<p>The pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>ati added that ATOM sellers have been losing momentum, citing two corrections during the fourth quarter that got stopped midway due to a higher buying pressure near the token&#8217;s previous all-time high levels.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/ff5a167c-a9fe-4117-8900-6e370d3d2903.jpeg\"><figcaption style=\"text-align: center;\"><em>ATOM\/USD daily price chart by Pentoshi. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>According to the analyst, ATOM is seeing clear:<\/p>\n<blockquote><p>&#8220;Signs of absorption&#8221;<\/p><\/blockquote>\n<p><strong><em>Related:\u00a0Price analysis 12\/1: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIB<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Avalanche_fractal_highlights_ATOMs_potential\"><\/span>Avalanche fractal highlights ATOM&#8217;s potential<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Another analyst, known by the pseudonym &#8216;Bluntz,&#8217; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SmartContracter\/status\/1462508741987737600?s=20\">anticipated<\/a> that ATOM would continue its rally upward based on similar gains posted by one of its top blockchain rivals, Avalanche (AVAX), earlier this year.<\/p>\n<p>Like Pentoshi, Bluntz views ATOM&#8217;s chance of revisiting its previous record-high as a base to continue its bull run. In a similar setup, AVAX rallied by nearly 250% after finding a solid footing inside the $50 to $60 support area.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/36b15976-6500-405e-9064-cb4a3bccd3c4.jpeg\"><figcaption style=\"text-align: center;\"><em>ATOM\/USD vs AVAX\/USD daily price chart by Bluntz. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>According to Bluntz, ATOM could easily hit $100 in the medium-term.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/traders-say-atom-could-eventually-do-an-avax-like-surge-to-100\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Traders say ATOM could eventually do an AVAX-like surge to $100 &#8221; Cosmos (ATOM) has the potential to record major gains in the upcoming weeks primarily because its longer-timeframe chart is showing a bullish continuation pattern.\u00a0 Dubbed &#8220;bull flag,&#8221; the structure appears as the asset trends lower while bouncing between two downward sloping trendlines&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":376164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvMjZkMTMzZTEtOTkzNC00Nzc5LTllMDEtMTkyMWNmNzA5N2E4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,79806,120396,74863,74939,75679,75150,75164,74876,78261,20093,73785],"class_list":["post-376163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-analysis","tag-avalanche","tag-cryptocurrencies","tag-market-analysis","tag-market-capitalization","tag-market-update","tag-price-analysis","tag-proof-of-stake","tag-tech-analysis","tag-cosmos","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/376163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=376163"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/376163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/376164"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=376163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=376163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=376163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}