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ATOM price is reaching for the Cosmos, but why?

Published 08/25/2022, 05:51 PM
Updated 08/26/2022, 08:00 PM
ATOM price is reaching for the Cosmos, but why?

As a market crash takes place, assets become oversold and typically there’s an “oversold bounce,” “return to mean,” “mean reversion,” or some price snapback to the bottom of the pre-crash range.

Afterward, the asset under study either consolidates, continues the downtrend, or returns to the bullish uptrend if the downside catalyst was not significant enough to break the market structure. That’s all basic trading 101.

ATOM daily chart. Source: Tradingview
ATOM roadmap details. Source: Cosmos Hub
Staked percentage of ATOM's circulating supply. Source: Staking Rewards
30-day increase in ATOM stakers. Source: Staking Rewards

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