In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance.
Cosmos (ATOM) technical analysis:
Trade setup: Bullish trend under way, price making Higher Highs and Higher Lows. Price was rejected 2x at $17 resistance. Pullback near $12.50-14.00 support could be a swing entry point, with upside potential back to $17 resistance zone. (set a price alert).
Trend: Uptrend on Medium-Term basis and Neutral on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $14.00, then $12.50, and $10.00. The nearest Resistance Zone is $17.00, then $20.00.
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What is Comos (ATOM)?
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Cosmos is a network of sovereign blockchains that communicate via IBC (Inter-Blockchain Communication), an interoperability protocol modeled after TCP/IP for secure transfer of data and value. The Cosmos Hub, also known as “Gaia,” is a Proof-of-Stake (PoS) chain with a native token, ATOM, that acts as the primary hub for routing transactions and data between blockchains within the Cosmos network. The Cosmos Hub, like the majority of blockchains in the Cosmos network, is secured by a Byzantine Fault-Tolerant (BFT) Proof-of-Stake consensus algorithm called Tendermint.
Cosmos aims to combine the utility of open-source software, decentralized value-transfer networks, and time-stamped blockchain data storage to accelerate the scaling, adoption, and use-case experimentation of these protocols. It views some key obstacles to these goals as status quo inefficiency, limited performance, and ad hoc governance styles. To correct these concerns, Cosmos was created as a decentralized network of independent, scalable, and interoperable blockchains, creating the foundation for a new token economy. The ideal solution, according to Cosmos, is to build a tool for interacting with multiple parallel blockchains such that the relative, unique value of a given chain’s features are exploitable on any other chain. In essence, a layered network connecting existing chains and sync activity and growth in the blockchain space. The Cosmos SDK is a developer-friendly, modular framework, each powered by a Byzantine Fault-Tolerant (BFT) consensus algorithm such as Tendermint Core, allowing developers to fully customize their decentralized applications and focus on business logic.
Cosmos is designed to operate as a network of “zones” and “hubs”. Zone simply references a network of many independent blockchains connected under Cosmos. Their interaction is powered by Tendermint Core, a secure consensus protocol easily adaptable with Proof-of-Stake (PoS) blockchains. The first Cosmos zone is called a hub, a Proof-of-Stake environment for multiple cryptocurrency assets. The hub is also able to interface with other subsequent zones via Cosmos’ inter-blockchain communication (IBC) protocol.
Staking, governance, and voting. Proportional claim on aggregate transation fees (can be paid in native tokens or stablecoins from connected chains).
Supply Curve Details
Atom’s targeted annual inflation rate is recalculated each block. The inflation is also subject to a rate change (positive or negative) depending on the distance from the desired staking participation ratio, currently fixed at 67%. The annual inflation is capped as between 7% and 20%. If more than ⅔ of the Atoms are being staked, atom block rewards decrease gradually down to a floor of 7% annualized inflation. If less than of the Atoms are being staked, atom block rewards increase gradually up to a ceiling of 20% annualized inflation.
Asset profile is provided by messari. Original version can be found at Messari