Cosmos (ATOM) Price Surges 14%, Eyes for $35 Mark

Cosmos (ATOM) Price Surges 14%, Eyes for $35 Mark
  • Both the Evmos and broader Cosmos ecosystems applauded the action.
  • Some have already set their sights on the $35.00 mark.

Currently, Cosmos (ATOM) is up over 13% in today’s session, making it the most significant gain since February 17. On Saturday, the price of ATOM/USD momentarily broke over the $29.10 resistance level, reaching an intraday high of $29.36 in the process. An increase in 14-day RSI (relative strength index) to a five-week high is behind this rise.

ATOM/USDT: Source: TradingView

Shortly after trading at a low of $25.27, ATOM’s shares bounced back to support of $26.10 and is not trading at $31, where they have been since today’s high. The chart’s price momentum has started to stabilize despite the recent descending triangle, with the moving averages going sideways. Some have already set their sights on the $35.00 mark, believing that this is a sign of a longer-term turnaround.

Cosmos-based Evmos Mainnet Launch Delayed

Delaying the deployment of Evmos’ mainnet, the first IBC-compliant EVM-based chain on Cosmos. Initially scheduled for February 28, the launch has been rescheduled for Wednesday, March 2, at 6 PM UTC. It was decided to boost the number of tokens released to please the Evmos community that had waited months for the network’s debut to arrive finally.

Both the Evmos and broader Cosmos ecosystems applauded the action. On top of Evmos’s significant rewards, the Cosmos community welcomed its arrival since it will finally provide EVM compatibility to the game. Once deployed, all EVM-based tokens, NFTs, and Dapps will connect to Cosmos.

According to CoinMarketCap, the Cosmos price today is $31.64 USD with a 24-hour trading volume of $1,576,672,086 USD. Cosmos has been up 13.85% in the last 24 hours.

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.