Mid-term study
Cosmos’ ATOM concluded another bearish week. However, the network recently made another announcement that might change ATOM’s demand dynamics in the next few days.
Scenario :
We expect a further consolidation towards [ 8 ; 20 ] maximum (Tactical support) before anticipating a larger recovery
Key Element:
- The long-term trend analysis show potential towards 44.80 as long as 5.50 strategic support
- The mid-term element as Mobile average and RSI turned bearish calling for a drop towards max 8,20 max
- ATOM is outperforming ETH & BTC on a mid-term basis which allow us to keep this coin in portfolio
Copy trade suggestion :
- Entry => 10 USDT
- Stop (Daily close) => [ 8 ; 20 ] USDT
- Target 1 ( Potential 65% ) => 16,70 USDT
- Target 2 ( Potential 100%) => 20,10 USDT
Fact :
Cosmos revealed plans for changes to its ATOM delegation policy. According to the announcement, all ATOM holders that have delegated their coins will have to unbond them. The process was scheduled to commence on 15 October and is expected to take a few days in the week ahead.
This was because the unbonding process will be carried out in batches.
One of the biggest concerns regarding the revised delegation strategy was that it might lead to an ATOM selloff. The Interchain Foundation released a new delegation policy that will allow validators to re-bond their ATOM. It noted that the amount delegated by validators will be different from the previous policy.
Disclaimer:
The information contained in this site is for educational purposes only to help you make the best decisions and does not constitute investment or financial advice. Please do your own research before making any investment decisions. None of the information contained in this site constitutes, nor should it be construed as, a suggestion, offer or other solicitation to engage in or refrain from engaging in any purchase, sale or other investment related activity. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose.