What’s Next For Cosmos(ATOM) Price? Will It Break $45 Level This Month?

The post What’s Next For Cosmos(ATOM) Price? Will It Break $45 Level This Month? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The price of Cosmos peaked at $44.45 on January 17, following which it has been in a downward trend. In recent weeks, the ATOM price has been quite volatile. It has plummeted by more than 30% since its all-time high. Cosmos is now trading at $32.09 at the time of writing.

Cosmos (ATOM), a decentralized parallel blockchain network, has a bright analysis in 2022, according to the host of popular crypto channel Coin Bureau. Guy, an analyst, says that Cosmos developers are already generating demand drivers that could push ATOM higher this year in a new video. He notes the December Vega update, which added new features and considerable network advancements.

Another “Crypto Winter ahead?

Cosmos will find a way to provide value to ATOM both inside and outside of its ecosystem, he believes. According to him, it appears to be focusing on Vega update. So long as it doesn’t mess up, he believes 2022 will be a tremendous year for Cosmos if we don’t enter a “Crypto Winter.”

The token is a decentralized ecosystem of alternative blockchains that can communicate with one another. The Vega update aims to improve the Cosmos Hub’s performance and ensure that future upgrades are implemented smoothly. 

Guy sees a crucial price resistance in ATOM’s present price of $30.81, which he believes will be a determining element in its price action. The altcoin has soared in response to Cosmos’ announcements, enhancements, and advances, but it’s only up around 50% since it last reviewed the project in September.

$45 Level a Game-Changer?

Aside from the general crypto market weakening since December, ATOM has attempted and failed to grab the $45 mark three times in the last few months. Unfortunately, if and when it returns to those levels, there will very certainly be a lot of pushback.

It’s difficult to predict ATOM’s price potential. Cosmos is already a large-cap cryptocurrency, so it will be difficult for ATOM to gain more than a 3x or 4x before the bull market ends.