Cosmos Is Likely to Push Up With Improving Risk Tolerance
Cosmos (ATOM) is down 1.6% to $4.45 this week, underperforming Bitcoin (BTC), which gained 2.9% to $110,737. The token has been stuck in sideways trade since February — its longest flat stretch on record. Historically, such periods have often been followed by rallies of several hundred percent.
With no internal catalysts at play, ATOM’s price action is being guided by the broader market. Still, its tendency to hover near the $5.00 resistance could be a sign of underlying strength. A breakout above this level would open the path towards $7.50 once sentiment improves.
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