The longer-timeframe chart for Cosmos (ATOM) seems to be showing an upward trend of the digital asset. The chart shows that the digital asset may be looking forward to a surge in its price. So far, the chart shows that ATOM can gain high growth, portraying that ATOM has high potential.
The performance chart for ATOM for a long-term period shows that ATOM may continue growing. The pattern is observed on the chart shows that it may continue experiencing a bullish trend for the long term.
For now, the graph for ATOM shows that it is soon to develop a flagpole, which occurs right after a “bull flag”. The bull flag is actually a structure that appears on the performance chart when a cryptocurrency starts bouncing between its low trendlines. However, after some time, the digital currency breaks out of the trendlines only to experience the trend prior to the downward motion.
This means that the digital asset starts growing in the upward direction once the flagpole, which is an indication that the digital asset would start growing. Most of the time, once the flagpole appears, the digital asset climbs tremendously in price hitting an all-time high in the process.
For ATOM, the bull flag it has experienced is around a climbing figure, which means that the situation may soon turn promising for ATOM. On the chart, it is observed that the upper line on the downward trendline is currently at a price that is around $44.80, while the lower trendline is at $25.65.
If ATOM manages to break it through the high-trendline, it may be able to cross the $66 per ATOM figure on the TradingView graph.
One of the major factors that may result in surging the price of ATOM is the staking mechanism it offers. At present, Cosmos is highly adopted because of its staking feature. The gains from the Cosmos staking are very decent, which is why investors stake them at a very high scale.
As of now, over 64% of the total supply of Cosmos has been staked. Due to its high adoption in terms of staking, Cosmos has experienced a more than 330% surge in its price. As ATOM continues growing in rewards from staking, more investors are looking forward to acquiring as many ATOM as possible.
Therefore, it is expected that ATOM’s price may soon experience a surge and its performance may go beyond the $66 per ATOM figure.
Several analysts have been matching the performance graph of ATOM with that of its rival “Avalanche – AVAX”. They are predicting that the trendline for ATOM may soon follow the trendline for AVAX. This means that ATOM may soon be able to hit it off at a price of $100 per ATOM.