ATOM
The cosmos ecosystem token, has experienced volatility in the last 24 hours, the price varying by 2.76% and reaching a peak at $ 4.327.
Strong resistance emerged around this level, with a high volume of trading creating a rejection area which prevented other advances, according to the Technical Analysis model of Coindesk Research.
The Cosmos ecosystem, a network made up of numerous independent block chains, continues to extend its cross -capacities thanks to the upgrade of Eureka, which launched in April, allowing transparent communication with the Ethereum blockchain.
Institutional developments, including the list of Bitbank atoms with promotional costs and exploration by Canary Capital of an ETF supported by the Cosmos, also provided support.
Technical analysis
- Support established around $ 4.21, with price stabilization nearly $ 4.233 during the consolidation phase.
- Significant hourly recovery occurred between 07: 33-08: 02, the price of $ 4.239 over a heavy volume exceeding 16,000 units.
- A new level of support was formed at $ 4.237 after the rebound of 1.4% compared to the lowest hour.
The CD20 demonstrated notable volatility during the period 24 hours a day, reaching a peak of 1751.049 before falling back, with an overall range of 22.573 points (1.3%).
After establishing a 24-hour summit in 10:00 p.m. on June 8, the CD20 entered a consolidation phase, traced about 50% of its earnings while maintaining support above level 1730, suggesting potential stabilization after the recent upward momentum.
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