ATOM Maintains “Market’s Biggest Mover” Tag, Sustains 4-Month High

ATOM Maintains “Market’s Biggest Mover” Tag, Sustains 4-Month High

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Cosmos’ native crypto continues its bullish run as much as a 40% bullish acquire whereas different cryptos ebb and move; NEAR follows with a multi-week excessive.
The native coin of Cosmos protocol, ATOM continues to maneuver upward, hitting new highs each day. On the time of writing, the crypto is buying and selling at $14 after briefly hitting $16 earlier at present. It had hit a 4-month excessive of $13.92 on Thursday amidst the broader crypto market bounce again.
That was after the Wednesday dip when ATOM worth dropped to simply under $12. Ever for the reason that $6 dip in the course of June, Cosmos token (ATOM) has been on an upward gliding triangle. Notably, ATOM has damaged the Relative Power Index (RSI) barrier and briefly hit $16.
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As of Thursday, crypto websites have been nonetheless speculating if ATOM would hit the $15 mark because it continued to rise. Most of those websites opined that it must break its Relative Power Index (RSI) barrier to realize that. In line with them, this hurdle would seem as a ceiling at 63.30. 
Nonetheless, ATOM cleared the barrier early this morning, buying and selling at $16 earlier than dropping to its present worth, $14. This bullish run makes it a 40% acquire ($10) throughout the area of three months.
Moreover, this occasion comes alongside the broader market rallying from the continued large crypto sell-off. The rising power of the greenback impacted crypto values negatively, inflicting a substantial market sell-off. This drove the value of tokens, like Ethereum Traditional and  Aave, to drop dangerously. ETC dipped by 12%, whereas Aave dropped by 7% on Tuesday. One other crypto Celsius fell by 11% as nicely.
Nonetheless, by Wednesday afternoon, the affected cash have been on the rise as soon as once more. The truth is, Aave was buying and selling at the next place than earlier than the dip. Analysts traced this restoration to a pointy drop within the US greenback Index across the similar time.
One other outstanding protocol amid these market actions is the NEAR community which reached a multi-week excessive coinciding with ATOM’s surge. Nonetheless, the NEAR token didn’t break its personal hurdle remaining in the identical $5 vary. The token is at the moment buying and selling at $4.55, in line with knowledge from Tradingview. 
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Nonetheless, COSMOS’ ATOM stays the “Greatest Mover” available on the market in the intervening time. Amidst market volatility, the token continues to make important headway. Whereas different cryptos battle with volatility from the rising US greenback index, the crypto has hit a 4-month excessive. Because of this, ATOM has earned applause from quite a few crypto websites.
Alyz is a passionate freelance author and journalist.
NewsBTC is a cryptocurrency information service that covers bitcoin information at present, technical evaluation & forecasts for bitcoin worth and different altcoins. Right here at NewsBTC, we’re devoted to enlightening everybody about bitcoin and different cryptocurrencies.
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