COSMOS - A Technology Ecosystem That Gets More Attention

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 Cosmos (ATOM) is a project which was created to solve some of the most common and most difficult problems to be solved by the blockchain industry.


Cosmos Development also aims to offer solutions to slow and expensive Proof-of-Work protocols as well as environmental risks.


The goals of other projects include making blockchain technology less complex and therefore the Interblockchain Communication protocol was developed to facilitate blockchain networks to interact with each other.


The Cosmos technology implementation whitepaper was drafted in 2016 before the sale of ATOM tokens was officially launched in 2017 by Jae Kwon, Zarko Milosevix and Ethan Buchman.


Looking at the ATOM/USDT chart, the ATOM price movement is also not far behind to continue declining in line with the value of Bitcoin failing to make a higher rise.


The ATOM price continued to maintain the bearish trend for the June market movement and returned to test the support level around the $ 10 price.



Yet if you look at the pattern of price movements, ATOM once jumped more than 500% starting at the opening of the 2021 market before declining more than 70% from the all -time high (ATH) level of $ 32 ever recorded.


If the support level manages to maintain the momentum of the rebound as it was achieved on May 23, the SBR (support become resistance) level around $ 12 will be tested before jumping higher.


For a higher upside, the $ 14.62 resistance level will be the main concern to target first before the ATOM price movement is expected to re -test the next SBR level at the $ 17 price level.


On the other hand, if the ATOM price continues to decline, the $ 10 support level will be passed and the price expectation will head to the level when the 2021 market opens around the $ 6 price.


As of 11.30am local time, the ATOM price made a slight jump above 9% to trade at the price level of around $ 10.30.

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