A popular crypto analyst and trader is sharing his 2022 outlook after the markets witnessed a steep correction in recent weeks. In a new strategy session, Michaël van de Poppe tells his 156,000 YouTube subscribers that he’s eyeing a trio of altcoins that have the potential for big breakouts next year. The trader says he’s […]
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Fractals, bullish technical analysis patterns and the fact that 67% of the total supply is staked are key reasons why analysts expect ATOM to hit new highs shortly.
Cosmos (ATOM) has the potential to record major gains in the upcoming weeks primarily because its longer-timeframe chart is showing a bullish continuation pattern.
Dubbed "bull flag," the structure appears as the asset trends lower while bouncing between two downward sloping trendlines. However, it eventually breaks out of the range, in the direction of its previous trend, with a profit target at length equal to the size of its previous uptrend which is also known as the flagpole.
Therefore, in a "perfect" world, if ATOM is to break above the flag's upper trendline (with a rise in trading volume), it may rise by as much as the flagpole's height around $35. This sets a price target near $65 as when measured from the current potential breakout point.
The bullish setup in ATOM appeared as the token rose over 330% from its June low at $7.82 to this weeks swing high near near $32.
Circulating token scarcity could be playing a role in driving buyers into the market. Data fetched by Messari showed that nearly 64% of the current ATOM supply is staked.
According to data, Cosmos investors have staked over 180 million ATOM tokens to become validators on its 'Cosmos Hub,' a proof-of-stake blockchain that constitutes one of many hubs on the network. In return, users receive a portion of the network transaction fees and block rewards.
Pentoshi, an independent market analyst, noted that the rising number of staked ATOM tokens have been instrumental in pushing its price upward.
The pseudonymous Twitterati added that ATOM sellers have been losing momentum, citing two corrections during the fourth quarter that got stopped midway due to a higher buying pressure near the token's previous all-time high levels.
According to the analyst, ATOM is seeing clear:
"Signs of absorption"
Related: Price analysis 12/1: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIB
Another analyst, known by the pseudonym 'Bluntz,' anticipated that ATOM would continue its rally upward based on similar gains posted by one of its top blockchain rivals, Avalanche (AVAX), earlier this year.
Like Pentoshi, Bluntz views ATOM's chance of revisiting its previous record-high as a base to continue its bull run. In a similar setup, AVAX rallied by nearly 250% after finding a solid footing inside the $50 to $60 support area.
According to Bluntz, ATOM could easily hit $100 in the medium-term.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
“Not your keys, not your coins” is short for “Don’t leave your crypto on exchanges.” Here are three soft wallets that are trusted by millions of investors.
Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come.
For new users, figuring out how to obtain cryptocurrency can be a tedious task, and the challenge of securing the assets off exchanges is another hurdle some investors find difficult to overcome.
Here’s a rundown of some of the most used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), nonfungible tokens (NFTs), staking opportunities and airdrops.
MetaMask was originally launched to support the Ethereum blockchain and decentralized applications (DApps) that run on top of it. It is now available as a browser extension and smartphone application.
The company launched in 2016 and has largely benefited from a first-mover advantage to become one of the most popular and widely integrated wallets, and it is one of the few to support nearly every blockchain network.
A quick scroll through the supported networks on Chainlist, a platform that provides a list of Ethereum Virtual Machine- (EVM)-compatible networks and instructions on how to add any listed network to their MetaMask wallet, shows hundreds of blockchain networks supported by MetaMask including many of the top smart contract competitors.
Currently, MetaMask supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism and Arbitrum, and it’s easy for users to use various bridges to transfer tokens between the supported networks.
MetaMask has also integrated a swap feature directly into the wallet to give users access to an aggregated list of decentralized exchanges (DEXs). According to data from Dune Analytics, the daily swap volume on MetaMask swap has steadily increased throughout 2021.
The rise in swap volume has also come alongside rumors that MetaMask will eventually release a token of its own and many users are anticipating an airdrop.
Phantom is a popular software wallet and browser extension available for Solana network users.
Similar to MetaMask, the Phantom wallet has a built-in DEX that allows users to make direct swaps within the software, thus avoiding the risk of connecting to a scam website or paying gas fees to transfer the funds out of the wallet to another exchange.
There are rumors that Phantom could launch its own token and airdrop a portion of the supply to early adopters. So far, however, this is nothing more than pure speculation and nothing has been mentioned by the developer yet.
The wallet also has an NFT tracking feature and users can also transact with available NFT marketplaces.
Similar to other wallets, Phantom users can stake Solana (SOL) tokens without needing to transfer the assets. Recently, the team announced a partnership with MoonPay that will allow users to use fiat currency and credit cards to purchase tokens in the Solana ecosystem.
We’re live on @Phantom!
— MoonPay (@moonpay) November 17, 2021
MoonPay’s integration will make onboarding even easier for those new to the @Solana ecosystem, bringing a fiat on-ramp directly to Phantom’s 1M+ users.
Full details here https://t.co/34hAnnxLyr pic.twitter.com/08IpTfAbCB
The project is also developing smartphone applications that will allow users access to the Solana network directly from their smart devices.
Keplr wallet is the first inter blockchain communication- (IBC)-enabled wallet and browser extension for the Cosmos network that allows users to store and access tokens within the ecosystem.
It currently supports more than 15 networks including Cosmos, Secret Network, Kava, Crypto.org, IRISnet and Persistence, and the team regularly adds support for new chains with several projects currently under beta access.
Holders of the supported tokens are able to stake their holdings directly through the Keplr wallet and the app works on Android and iOS devices.
UPDATE: Keplr Mobile is now LIVE
— Keplr Wallet (@keplrwallet) October 14, 2021
See our latest post for the app store links:https://t.co/LUyHzzekHE
At the moment, there are no rumors of a possible Keplr token or airdrop to users, but one can never be sure about what might happen in the crypto sector. If Keplr integrates popular features like its own swap interface or an NFT marketplace, then the chance of a native token is always a possibility.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Popular crypto strategist and trader Michaël van de Poppe is looking at two altcoins that he says are potentially flashing reversal signals. In a new strategy session, Van de Poppe tells his 149,000 YouTube subscribers that Litecoin could be forming a bullish higher-low setup against Bitcoin (LTC/BTC) at 0.0033 BTC or $190.38. “Even Litecoin might […]
The post Litecoin and One Under-the-Radar Altcoin Could Be Carving Out Bottoms, Says Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.
A prominent crypto trader says he’s expecting significant moves from one altcoin before weighing in on Bitcoin’s fate in the wake of a sudden BTC price pullback. The pseudonymous Inmortal tells his Telegram subscribers that the chart looks good for ATOM, the native token of the interoperable blockchain network Cosmos. “ATOM/USD I love this chart […]
The post Analyst Predicts Big Rallies for ‘Undervalued’ Altcoin, Says Bitcoin Trading at Critical Do-or-Die Level appeared first on The Daily Hodl.
A popular crypto analyst and trader says he’s keeping a close watch on two altcoins which he says have the potential to ignite epic rallies. Pseudonymous trader Smart Contracter tells his 184,300 followers that he’s still bullish on smart contract platform Avalanche (AVAX) even after the Ethereum (ETH) rival nearly doubled its value in just […]
The post Crypto Analyst Says Avalanche Rally Still Has Gas in the Tank, Predicts Epic Surge for Additional Large-Cap Altcoin appeared first on The Daily Hodl.
