Cosmos’ native crypto continues its bullish run up to a 40% bullish gain while other cryptos ebb and flow; NEAR follows with a multi-week high.
ATOM is the Cosmos Protocol’s native coin. It continues to rise and reaches new highs daily. The crypto trades at 14 dollars, after having briefly touched $16 today. In the context of the larger crypto market rebound, it had already reached $13.92 for a 4 month high.
This was just after Wednesday’s dip, when the ATOM price fell to below $12. Since the June 6th dip, Cosmos token ATOM has been in an up-gliding triangular trend. Notably, ATOM has briefly broken the Relative Strength Index, (RSI) barrier.
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On Thursday, many crypto websites were still wondering if ATOM will reach the $15 mark. Many of the sites suggested that ATOM would need to overcome its Relative Strength Index barrier (RSI), in order to do so. This would represent a ceiling at 63.30, according to the sites.
ATOM broke through the barrier this morning and traded at $16 before falling to $14. Its bullish streak has seen a 40% increase in value ($10) over the past 3 months.
Others Cryptos Rally in the Wake of Sell-odd Wednesday
Furthermore, the event coincides with the market rallying due to the continuing massive crypto-sale. An increase in the strength of USD negatively impacted crypto prices, leading to a significant market selloff. This drove the price of tokens, like Ethereum Classic and Aave, to drop dangerously. ETC fell by 12% while Aave declined by 7%. The crypto Celsius also fell 11%.
The affected coins had risen again by Wednesday afternoon. Aave traded at a much higher level than it was before the dip. Analysts linked this rebound to the sharp fall in the US dollar Index at the same time.Source: Price chart for ATOMUSD from TradingView.com
NEAR Protocol is Not Excluded from The Bullish Run
Another remarkable protocol amid these market movements is the NEAR network which reached a multi-week high coinciding with ATOM’s surge. Still, the NEAR token didn’t break its own hurdle remaining in the same $5 range. According to Tradingview data, the token trades at $4.55.
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Nonetheless, COSMOS’ ATOM remains the “Biggest Mover” on the market at the moment. The token is making significant progress despite market volatility. The crypto is now at a 4-month peak, while other cryptocurrencys are struggling with the volatility of the US dollar index. ATOM received a round of applause at numerous other crypto sites.
Featured image by Pixabay, chart from TradingView.com