Cosmos Ecosystem Gains Institutional Attention as ATOM Rises Over 4%
The Cosmos ecosystem attracts institutional interest amid market volatility. The price of ATOM recovered from a low of $4.23 on April 30, stabilizing above $4.38. Key updates include:
- ATOM rose over 4% in the last 24 hours; CoinDesk 20 Index saw similar growth.
- Canary Capital filed for the first spot Sei ETF based on Cosmos SDK, including staking features.
- Figure's Provenance blockchain leads tokenized private credit with $9.9 billion in active loans, supporting BlackRock CEO's claim about asset tokenization.
Technical Analysis of ATOM
- ATOM-USD shows resilience, recovering to stabilize above $4.38.
- Moderate volatility noted with support around $4.30-$4.32.
- Recent price action indicates an uptrend with higher lows and increasing trading volume.
- Current price has reclaimed the 61.8% Fibonacci retracement level; resistance at $4.41-$4.42 is next.
- Price experienced volatility, dipping to $4.35 before recovering to $4.38.
- A V-shaped pattern formed with strong buying support at $4.35-$4.36.
- Short-term uptrend established, consolidating near $4.38-$4.39, with potential for further upward movement if resistance is breached.