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Bull Flag on ATOM Until Proven OtherwiseFor me the best time to buy would have been at the 0.886 Retrace Below but i was not looking aware of ATOM being at the .886 at the time. If one wanted to be patient they could wait for ATOM to come back down to the 0.886 level and try to play some sorta Double Bottom but there's a possibility that a significant continuation up happens before it goes back down there so as a bit of an Aggressive Continuation Trade I'll be risking a bit here to try to realize a 60%-80% Gain based off what looks to be a Bull Flag in a Local Uptrend showing some Hidden Bullish Divergence.
COINBASE:ATOMUSDLong
by RizeSenpai
Too Good To Be True? Staking Rewards and the RecessionAs some analysts have predicted, the public's interest in crypto/Web3 projects have shifted from proof-of-work over to proof-of-stake, following Ethereum's "merge" a few weeks ago. ATOM and ALGO in particular did very well this week (though it did level off eventually) as what seems to be a partial migration of crypto money flowing from one area to the next. The pattern is just starting now so time will tell if it's a trend or a blip, but as we head further into a global recession, the idea of people "abandoning" stocks and other traditional fiat assets becomes more a possibility over time. We can look at some of the predictions being made right now in the industry, and its pros and cons. 1. Crypto Will Go Down With Fiat Given that crypto and the stock market have traditionally moved in parallel for the most part, it will continue to do the same during the downturn. This assumes that the low-interest rates of 2008+ onwards was also fueling the crypto hype and will follow the same pattern of prices plunging as cheap borrowing falls to the wayside. While there's certainly a case there, this assumes that the economy will behave "as normal" during the next downturn - which may bring a different type of risk to the table. 2. Money Will Flow into Bitcoin/Ethereum This is the main mantra of the "maxis" out there - they assume that people will lose faith in fiat as a whole, and convert their stocks/cash into a "reliable deflationary asset" like Bitcoin or (now) Ethereum. Deflationary assets - while some will call "ponzi-like" in its modeling - do objectively favor existing holders over newer ones, and can often cause problems with onboarding and long-term growth since it makes it more difficult for new money to come in. Given the two projects massive media/marketing presence last year, are there any more people out there to onboard? Probably not - but they are holding out for the idea that they will be proven right, one day. 3. Money Will Flow into "Cash-Like" Assets Like Dogecoin Traditional financial wisdom says that during recessions, "cash is king" - and we have seen some indication that money is starting to flow back into cash, especially the USD. (The USD is traditionally seen as the most "stable" and is typically where fiat assets flow into during recessions.) What does this mean for crypto? Well, up until now the narrative has been that out of the well-known coins out there, Dogecoin is the most "cash-like" since it's been actually used to buy and sell things at low costs. While the idea is interesting, DOGE has a few problems associated with it - that it still runs on proof-of-work (which is losing favor over time) and that being a fork of Bitcoin, it's technology is also being rapidly obsolete. (It cannot support NFT minting, for example.) There are plans for DOGE to move over to proof-of-stake eventually, but the timeline is TBD. 4. Money Will Flow into Staking Rewards As with ATOM/ALGO this past week, some lesser-known proof-of-stake coins have made its move - currently coins that offer competitive staking rewards are beating both the banks and the major proof-of-work coins, whom are simply unable to offer those types of rewards. ETH2 is now technically proof-of-stake, but its staking mechanisms aren't "liquid" - i.e. you don't know when you can get your money out. Some coins offer very high rewards (13%+) but is that too good to be true? Time will tell whether or not this model is sustainable or not. 5. Money Will Flow into Coins that Have Utility Arguably crypto's least talked about topic in public - coins that have real-life use-cases and actual products may start to see some gains as utility creates new converts over to particular projects. As the money for hype marketing strategies start to run low, many of the coins that have been running on it will start to drop out, making it easier for coins with real customers and revenue to stand out. Some coins have no value other than "store of value" - some coins have robust DeFi options but basically operates like an accounting firm - but there are a few projects out there that are attempting to expand into the worlds of direct applications. This is probably the most optimistic take on Web3's future as a whole, but the path of getting there isn't likely to be smooth - they don't call it "creative destruction" for nothing, after all. Of the projects out there, Tezos (XTZ) stands out as one of the few projects that have their hands in "everything" - with a diverse portfolio of projects in many sectors and brands across the world. (ETH does too, but their gas-fee problem has slowed technical and partnership development to a halt.) -- The actual outcome will probably some combination of the trends above, and is likely to get very complicated as time goes on, but I do think that it's important to keep an eye out for how key factions and ideas are circulating in the space right now since a lot of things are likely to change very quickly in the near future as we head further into what could potentially be the biggest global recession ever recorded in human history. "Higher numbers = good" has been the main focus of the crypto industry up until now but as time goes on we're likely to see more complex and nuanced takes on how the economy works and how Web3 fits into it as a whole. There might be some growing pains involved but this is how our understanding of economics matures, imo.
BITFINEX:XTZUSDLong
by RyanTanaka
Cosmos Hub (ATOM) - September 29Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (ATOMUSDT 1W Chart) Whether the 12.282-15.837 section is supported and able to rise is the key. (1D chart) We need to see if we can move up along the uptrend line passing near 12.282. If not, there is a possibility that it will drop to around 9.603. If the price is maintained above the 15.083-15.837 section, it is expected to continue the upward trend. The 12.282-15.837 section is a trend-determining section, and you can buy if you see support near 12.282. However, as I mentioned in the description of the BTC chart, I think it is time for altcoins to gain support by increasing the BTC price by at least 20.7K. Therefore, before that, it is recommended to trade conservatively when trading altcoins. ------------------------------------------------------------ ----------------------------------------------------- ** All descriptions are for reference only and do not guarantee a profit or loss in investment. ** If you share this chart, you can use the indicators normally. ** The MRHAB-T indicator contains indicators that indicate support and resistance points. ** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor). ** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100). (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) ---------------------------------
by readCrypto
ATOMUSDT H2ATOMUSDT With market sentiment starting to turn bearish, with many market participants worried about the Fed's decisions and also the global geopolitical situation, there was a pullback yesterday again in the price of BTC, affecting the entire crypto market, including ATOM. Meanwhile, technical factors also point to a rally, as ATOM always has a brute buying force. At H2 we are already on the lower edge of the Keltner channel which is a powerful support. Fibonatti imposes a resistance at $13.64 and after breaking it we will reach our target of $14.04. In terms of other ATOM fundamentals, no worries, high-octane currency; ATOM is reworking its white paper bringing many improvements to the entire COSMOS ecosystem.
by ferulianov
ATOM is looking absolutely stunning!Let’s take a look at ATOM. All drawing tools drawn on the weekly time frame. But wanted to see how the daily time frame is looking. Daily chart looks absolutely primed and ready for a big movement. ATOM looks bottomed out on the daily and weekly time frames. Fully expect for ATOM to start making its movement to .618 fib at $22.80 level. Red box of resistance definitely needs to be retested. If these two movements come through then I’d expect a witch to the .786 at $27.50 Take profits off the table at .618, red resistance box and lastly at the .786 then set a trailing stop loss. Again ATOM has huge upside potential! Trade safe! What’s everyone think?
COINBASE:ATOMUSDLong
by crytobullmike
1
The Proof-of-Stake Era is Here. Can ETH Survive the Winter?After Ethereum's "merge" this week, the crypto market continues to sag as a whole, unimpressed. One pattern we see emerging is that coins that have been proof-of-stake since the very beginning (especially ATOM and ALGO this week) have been performing very well relative to the rest of the market. (Coins to keep an eye on in the near future: XTZ, ADA, TRON, MATIC, etc.) As we head further into the recession we're going to start to see some of these patterns get more aggressive. The reason why this is happening should be pretty obvious at this point: people's attentions are switching over to proof-of-stake, and the coins that offer competitive staking rewards (aka interest rates) are starting to attract new customers. Flipping NFTs is too confusing to most people but most people can tell when one rate is higher than another. (Especially since most banks are still stuck in 0-interest rate savings mode at the moment.) The crypto community has largely been down on Ethereum lately as the realization that they've fallen behind the curve starts to settle in. But they're certainly not out of the race yet - the roadmap to make ETH competitive in the proof-of-stake race is pretty clear: 1) Make staking liquid - the fact that it's locked up for an indefinite period of time is pretty ridiculous, possibly illegal. (Probably in their own interest to do so quickly before it turns into a lawsuit, tbh.) As it stands now ETH's staking rewards are too cumbersome and not competitive enough for people to consider. 2) Adopting on-chain governance would make skeptics feel at ease and would quell some of the criticisms coming from the Bitcoin maxis too. The real problem is transparency, not centralization. 3) Fix the issues with scaling to bring gas fees down, finally. They can probably consult people from other chains who have already figured it out. (If they can get over themselves, that is, lol.) They definitely have the resources to do so - that was never in question. Whether they're actually gonna do it, though, that's another story. I didn't exit completely but as a disclaimer I did sell off a pretty big portion of my ETH holdings this year because of concerns over its long-term prospects. Ethereum may be well on its way to becoming Bitcoin 2.0, given that it's now become a deflationary asset. If you're an ETH holder you'll probably be OK since they'll probably continue to burn their supply to make sure that the price doesn't go down too much. Silicon Valley is known for their appeasement of the investor class and we're likely to see the same pattern play out again. But keep in mind that each coin burned just makes it harder for new people to come in - what they've done is basically put an expiration date on their own project since they're actively restricting the platform's growth now. (Crypto NIMBYism, as I like to call it.) Coin supply is a controversial topic in the industry but can be understood in a fairly straight-forward way: The higher the supply, the better it is for newcomers; the lower the supply, the better it is for existing holders. Maxis will repeat whatever marketing slogans they were fed but at the end of the day, it's about who's back you're willing to scratch. Getting returns on your investment requires you to see things as they are and read between the lines of what's being said - are they using that wealth to make genuine improvements on the protocol itself, or are they just hoarding it and promoting the scarcity model behind your backs? More coin supply to attract new talent/investors? Sure, good idea in theory. Just not here - "Not In My Back Yard". NIMBYism is a thing you see in the real-estate markets, and we start to see its ugly head rear in the crypto space, too. I do owe a lot to ETH - it stabilized my finances, paid off my student loans, and gave me the time to do the things I wanted to do, rather than had to do. But it's probably time for me to move on - I'm here for the dream, not just the money. 🔥
Long
by RyanTanaka
Cosmos Hub (ATOM) - September 20Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (ATOMUSDT 1W Chart) The 12.282-15.327 interval is the interval that determines the trend. Therefore, if the price is maintained above 15.837, it is expected to rise above 20.955. (1D chart) We need to see if we can continue the uptrend within the short-term bullish channel. If the price is maintained above the HA-High indicator, the uptrend is expected to continue. So, the key is to keep the price above 15.083. ------------------------------------------------------------ ------------------------------------------- ** All descriptions are for reference only and do not guarantee a profit or loss in investment. ** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points. ** Background color of Long/Short-S indicator: RSI oversold and overbought sections ** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed. ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) ---------------------------------
by readCrypto
4