Cosmos, dubbed the “internet blockchain” has the main objective of improving interoperability between all blockchains in its network.
In recent times, Cosmos has attracted the attention of some investors as it has seen quite an impressive increase in the market.
The September trading session, Cosmos has exhibited drastic price movements resulting in a 157% jump reaching the latest all -time high (ATH) of $ 44.80 in today’s trading session (Monday).
Basically, blockchain Cosmos is working to improve the DeFi service which last month launched a ‘user interface’ that works for DeFi called Emeris.
It allows users to access a number of DeFi cross-chain protocols on the Cosmos network and trade assets with ease.
As can be seen on the ATOM/USDT chart, having posted the latest ATH in the past few hours, ATOM is seen to be unable to maintain consistent price movements.
From a technical point of view, the price movement is seen to be declining and hovering above the RBS (resistance become support) level of $ 38.
If the price movement remains with a downtrend, the RBS $ 38 level needs to be tested first to either make a rebound or continue the decline to a lower level.
On the other hand, if the price of ATOM returns to the uptrend, the $ 44 resistance level will be the target to be tested again before making a higher jump and making the latest ATH.
At the time of writing, ATOM is trading at a price of around $ 40 jumping over 2% in the last 24 hours. Coins are currently ranked 20th in the crypto market.
