An emerging altcoin is following the explosive price action of smart contract platform Solana, according to two prominent crypto strategists. These Analysts think that ATOM, the token that powers the Cosmos blockchain, could see an increase of up to 230 percent.
Crypto trader and market analyst Michaël van de Poppe says that after SOL hit an all-time high, he is now eyeing the decentralized blockchain platform Cosmos (ATOM). Van de Poppe tells his 123,000 YouTube subscribers that ATOM seems poised for a price hike relative to its underlying market structure.
“If I had to pick a coin to track the rise in Solana and it had to be a tier-1 solution, it would be Tezos, Polkadot, or Cosmos. Given their build, they look great.”
Van de Poppe claims that ATOM is trading within a two-year accumulation period against Bitcoin and expects a retest of the 0.00051 BTC level ($22.88) after the token started trading in an uptrend against BTC in August.
Van de Poppe watches two key price levels to see where ATOM will go next.
“Cosmos had a nice retest at ($17.47) and regained everything it lost in the price crash a few days ago. I think we will continue to move forward and hit new highs between $47.50 and $72, the next target zone.”
Another person who shared his predictions about ATOM is the trader known by the nickname Inmortal. Cosmos (ATOM), a project aimed at helping developers build different blockchains that can exchange data, will outperform Solana (SOL), which has experienced a meteoric rise of 350 percent over the past 30 days, according to the crypto analyst.
“FOMO (fear of missing out) for ATOM will begin soon.”
The crypto analyst is also closely examining the Bitcoin/Cosmos (ATOM/BTC) pair. According to Inmortal, ATOM/BTC needs to turn the 0.00055 ($25) resistance to support to trigger a parabolic rise.
“One of the largest accumulation ranges in ALT/BTC pairs (+800 days). ATOM finally gets this KEY level [desteğe] turns it around, I think we’re going to see some big explosions.”
If ATOM/BTC follows Inmortal’s scenario, the pair could rise as high as 0.002 BTC ($91.14), representing a potential increase of more than 230 percent from its current price of 0.0006 BTC (i.e. $27.34).
According to CoinGecko, at the time of writing, Cosmos (ATOM) is trading at $29.05.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.