Cosmos price reached a high of $44.45 on Jan 17, after which it has been trending down. In recent weeks, the price of ATOM has been quite volatile. It has plummeted by more than 30% from its all-time high. Cosmos is now trading at $32.09 at the time of writing.
Cosmos (ATOM), a parallel decentralized blockchain network, has a brilliant analysis in 2022, according to the host of the popular cryptocurrency channel Coin Bureau. Guy, an analyst, says Cosmos developers are already generating demand drivers that could propel ATOM higher this year in a new video. He points to the December update to Vega, which added significant new features and advancements to the network.
Another “Crypto Winter Ahead?
Cosmos will find a way to provide value to ATOM both inside and outside of its ecosystem, he believes. According to him, it seems to focus on the Vega update. As long as it doesn’t go bad, he believes 2022 will be a tremendous year for Cosmos if we don’t enter a “Crypto Winter.”
The token is a decentralized ecosystem of alternative blockchains that can communicate with each other. The Vega update is intended to improve the performance of Cosmos Hub and ensure that future updates roll out smoothly.
Guy sees a crucial price resistance at ATOM’s current price of $30.81, which he believes will be a determining factor in the price action. The altcoin has surged in response to Cosmos announcements, improvements, and previews, but is only up about 50% since the project’s last review in September.
Is $45 Level a game changer?
Aside from the general weakening of the crypto market since December, ATOM has tried and failed to reach the $45 mark three times in recent months. Unfortunately, if and when it comes back to those levels, there are bound to be a lot of pullbacks.
It is difficult to predict the potential price of ATOM. Cosmos is already a large-cap cryptocurrency, so it will be difficult for ATOM to gain more than 3x or 4x before the bull market ends.
This post What’s next for Cosmos (ATOM) price? Will it break the $45 level this month?
was published first on https://coinpedia.org/altcoin/whats-next-for-cosmosatom-price/