Cosmos is presently held between a rock and a hard place in the market, according to crypto analyst Alan Santana. To him, this is a very opportunistic time for long-term investors, most especially those with a bullish outlook.
He feels that ATOM is currently trading at quite a remarkable discount from the highs posted, hence positioning itself for a very compelling risk-reward entry. According to Santana, Cosmos has “a great chart” because the coin is trading very low compared to historical prices.
✴️ Cosmos (ATOM) Pre-2025 Bull-Market Accumulation Zone & Strategy
Cosmos has a great chart…
How are you doing my dear friend?
Ready for a new yesterday, tomorrow-today?
Are you ready to explore this chart with me in this wonderful day?
Cosmos has a great chart because it is…
— Alan Santana (@lamatrades1111)
Cosmos: Accumulation Phase and Risks
Santana emphasized that Cosmos was in its critical phase of accumulation. On the other hand, ATOM has historically formed higher long-term lows, which could be a technical indicator setting a stage for future gains.
However, accumulation comes with risks. The key level to watch would be $1.923, a low from March 2020. Should the price of ATOM go below this threshold, it would somewhat undermine the bullish narrative Santana presents.
Such a decline could be interpreted as a shift in market sentiment and would result in weaker performance compared with other cryptocurrencies.
ATOM market cap currently at $1.76 billion. Chart:
Another pressure on ATOM comes from insider selling. As soon as the developers, miners, or exchanges begin to sell their holdings en masse, that usually becomes a red flag indicator of problems within the project or, at the very least, a lack of belief in its further perspective.
This might be why, in particular, Cosmos can’t hold up that well compared to other altcoins, which have been able to stay above their June 2022 lows.
Bearish Forecast And Market Sentiment
Although Santana’s sentiment is slightly overly hopeful, the market sentiment is overwhelmingly bearish. According to Cosmos will lose 8.56% and its price will fall even further to $4.13 by September 15, 2024.
All technical indicators in this forecast are The Fear & Greed Index has finally reached 27, showing much fear in the market. For Cosmos, there have been nine green days during the last 30 days—out of a possible total of 30.
Source:
This translates into a positive return rate of 30%. Its current price volatility is at 11.64%, indicating a highly uncertain and risky time frame.
Well, considering the current state of the market, it may not be an ideal time to invest in Cosmos. Based on the factors mentioned above, namely the price drop forecast and the current sense of fear in the market, it would seem that caution is due.
Although Santana’s analysis shows that this could actually be beneficial for future gain, the outlook immediately is not so promising. The factors therefore have to be taken into consideration by the investor prior to buying.
Cosmos is a high-risk, high-reward scenario. The current low price and previous higher lows could yield huge rewards for long-term investors who can handle the storm. However, adverse mood, insider selling, and price decrease expectations are risks.
Featured image from Zipmex, chart from TradingView
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
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Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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