• Cosmos (ATOM) is currently on a bullish trend in early 2023, as its native token ATOM has seen a 12.34% increase in the last 24 hours.
• According to a poll conducted on Twitter, 53.8 % of participants see the early part of 2023 to be bullish.
• Atom will face resistance at $14.458 and $15.817.
The cryptocurrency market has been highly volatile since the start of the year 2022, with many coins tumbling in value and making investors question their decisions. However, the market seems to have entered a state of recovery in early 2023 as the global crypto market cap has seen an increase in the last 24 hours, according to CoinMarketCap. Trading volumes of cryptocurrencies have also increased, proving that there is still much global interest in digital assets.
A poll conducted on Twitter revealed that 53.8 % of participants saw the early part of 2023 to be a bullish market, with 46.2% predicting a bearish trend. Although these predictions are speculative, as Twitter user Neon Panda pointed out, one asset that has benefitted from this improved market outlook is Cosmos (ATOM). Ranked number 20 on the crypto market list, ATOM has seen an increase in value today, January 9, of 12.34%, with its trading volume up by 265.39%.
The formation of longer green candles on the ATOM chart shows that the bulls are in control of the market, and the asset has broken out of the sideways trend and has continued to rise on the chart. The support level of $8.441 has held as the price has increased, and now the asset faces resistance levels at $14.458 and $15.817.
It is uncertain how long Cosmos (ATOM) will be able to ride the bullish trend, or if the asset will be able to hit its all-time high of $17.5. Investors need to be aware of the risks associated with cryptocurrency trading and be prepared for any market changes that may come. However, with the current upward trend, ATOM is looking to be an attractive investment option for those looking to make some profits in early 2023.