ATOM Maintains “Market’s Biggest Mover” Tag, Sustains 4-Month High
September 14 2022 - 07:38PM
NEWSBTC
Cosmos’ native crypto continues its bullish run up to a 40% bullish
gain while other cryptos ebb and flow; NEAR follows with a
multi-week high. The native coin of Cosmos protocol, ATOM continues
to move upward, hitting new highs every day. At the time of
writing, the crypto is trading at $14 after briefly hitting $16
earlier today. It had hit a 4-month high of $13.92 on Thursday
amidst the broader crypto market bounce back. That was after the
Wednesday dip when ATOM price dropped to just below $12. Ever since
the $6 dip in the middle of June, Cosmos token (ATOM) has been on
an upward gliding triangle. Notably, ATOM has broken the Relative
Strength Index (RSI) barrier and briefly hit $16. Related Reading:
TA: Bitcoin Price Trims Gains, Why $20K Is The Key To Fresh
Increase As of Thursday, crypto sites were still speculating if
ATOM would hit the $15 mark as it continued to rise. Most of these
sites opined that it would have to break its Relative Strength
Index (RSI) barrier to achieve that. According to them, this hurdle
would appear as a ceiling at 63.30. However, ATOM cleared the
barrier early this morning, trading at $16 before dropping to its
current price, $14. This bullish run makes it a 40% gain ($10)
within the space of 3 months. Other Cryptos Rally in The Wake of
Sell-odd on Wednesday Additionally, this event comes alongside the
wider market rallying from the ongoing massive crypto sell-off. The
increasing strength of the dollar impacted crypto values
negatively, causing a considerable market sell-off. This drove the
price of tokens, like Ethereum Classic and Aave, to drop
dangerously. ETC dipped by 12%, while Aave dropped by 7% on
Tuesday. Another crypto Celsius fell by 11% as well. However, by
Wednesday afternoon, the affected coins were on the rise once
again. In fact, Aave was trading at a higher position than before
the dip. Analysts traced this recovery to a sharp drop in the US
dollar Index around the same time. NEAR Protocol Is Not Left Out In
The Bullish Run Another remarkable protocol amid these market
movements is the NEAR network which reached a multi-week high
coinciding with ATOM’s surge. Still, the NEAR token didn’t break
its own hurdle remaining in the same $5 range. The token is
currently trading at $4.55, according to data from
Tradingview. Related Reading: Bitcoin Takes A Blow After It
Falls Below $22,000, Any Chances For A Bull Run Nonetheless,
COSMOS’ ATOM remains the “Biggest Mover” on the market at the
moment. Amidst market volatility, the token continues to make
significant headway. While other cryptos struggle with volatility
from the rising US dollar index, the crypto has hit a 4-month high.
As a result, ATOM has earned applause from numerous crypto sites.
Featured image from Pixabay and chart from TradingView.com
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