Cosmos In A Downtrend Since Last 2 Months – Investors Shying Away From ATOM?

Cosmos (ATOM) started this year with a bang by attaining its all-time high (ATH) on January 17 when it traded for $44.45. But just like other cryptocurrencies, it failed to sustain that level and was relentlessly pummeled by the volatile crypto market.

Timeline of Cosmos

The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion. The daily timeframe was bearish A move above $13 looked unlikely and would give impetus to the bulls Cosmos has been in a downtrend since late September.

The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Cosmos [ATOM] witnessed a patterned breakdown and entered into its high liquidity zone.

Cosmos [ATOM] made it to the list of top inter-blockchain communication (IBC) protocol projects as of 18 October. According to the data at hand, ATOM's weekly active users surpassed all other cryptocurrencies that made it to the list.

There are a lot of different cryptocurrency projects out there, and it can be tough to decide which ones to invest in. If you're looking for some solid options, we would recommend Cosmos (ATOM), Stellar (XLM), and Snowfall Protocol (SNW).

Polygon was one of Tuesday's notable gainers, as the token rose to its highest point since mid-September. Today's surge saw prices of the cryptocurrency rise for a third straight session. Cosmos also extended recent gains, climbing to its strongest point in recent days.

ATOM's price shows strength as price breaks bounced off from $12 with good volume with eyes set to reclaim $13.  ATOM breaks out of a downtrend as the price resumes a bullish structure.

The performance of the global crypto market has seen a negative trend due to continuing losses. The recent data for Bitcoin, Binance Coin, and others show a continuation of losses.

Cosmos is now making sure their system won't share the same fate as the BNB Chain that was drained of $100 million worth of tokens in a hacker attack last week. On October 13th, Ethan Buchman, co-founder of the Cosmos inter-blockchain communication (IBC) ecosystem, revealed a major security weak point that affects all Cosmos chains that utilize IBC, regardless of the version of IBC they employ.

Co-founder of the inter-blockchain communication (IBC) ecosystem Cosmos, Ethan Buchman, announced the existence of a “critical security vulnerability” on 13 October that affects all Cosmos chains which support IBC and all IBC versions.

Xrp rebounded from recent drops in price on Friday, as the token surged by nearly 10% in today's session. Cosmos was another notable gainer, as it snapped a four-day losing streak. Overall, cryptocurrency markets were mostly higher, with the global market cap up nearly 5% as of writing.