Market

2022 will be an important year for ATOM

Popular crypto channel owner Coin Bureau has a bullish outlook for Cosmos’ decentralized parallel blockchain (ATOM) network in 2022.

Source: Trade View

In one Video New York, analyst Guy says Cosmos developers are currently creating a variety of demand drivers that could push ATOM prices higher this year.

He cites the Vega update in December, which introduced new features and major upgrades to the network.

“I am confident that Cosmos will find a way to add value to ATOM both inside and outside of its ecosystem. From my perspective, it looks like it’s going to be focused on exactly that, like the Vega update for example. I truly believe that 2022 will be an important year for Cosmos as long as we don’t enter a crypto winter.”

Cosmos is an ecosystem of parallel blockchains that can communicate in a decentralized manner. According to the platform’s blog, the Vega update aims to improve the performance of the Cosmos Hub and ensure a seamless adoption of future upgrades.

With ATOM currently trading at $32.11, Guy is identifying a key resistance level that will likely be the deciding factor in his price action.

“Cosmos announcements, upgrades and developments resulted in an immediate price increase of ATOM, however it has only increased by about 50% since I last mentioned the project in September.

Aside from the overall weakness in the crypto market since December, ATOM has attempted to reach $45 three times in the past few months but failed. Unfortunately, that means it could face a lot of resistance if it approaches those levels again…

In terms of price potential, it’s hard to say. ATOM is a large-cap cryptocurrency and that means it’s less likely to drop 3 or 4 times before the bull market is over.”

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.