Cosmos (ATOM) is in the process of recording major gains in the upcoming weeks because its longer-timeframe chart is showing a bullish continuation pattern.
<h2><strong>Cosmos Set to Rally in the Coming Weeks</strong></h2>
Cosmos’ ATOM <a href="https://www.cryptoknowmics.com/news/atom-technical-analysis-bullish-reversal-can-complete-double-bottom-pattern/">token</a> was up 19% yesterday to overtake the price-performance even among leading assets like Bitcoin (BTC), Ethereum (ETH). Its bullish scenario appeared as the token rose over 330% from its June low at $7.82 to this week's high near $32.

Since then, the digital asset has retraced today below 12% to currently trading at $26.38 at the time of writing. Its market cap currently stands at around $7 billion.

However, in recent weeks, ATOM has suffered in relation to many other crypto assets. Since hitting an all-time high of $44 in September, it’s consistently failed to break out of resistance with the likes of <a href="https://www.cryptoknowmics.com/news/colony-raises-18-5-million-to-fuel-next-generation-applications-in-the-avalanche-ecosystem/">Avalanche,</a> Solana, and Ethereum who saw record highs.

In the meantime, data from crypto analytics firm <a href="https://messari.io/asset/cosmos/metrics/staking" target="_blank" rel="nofollow noopener">Messari</a> showed that nearly 64% of the current ATOM supply is staked. This indicates Cosmos investors have staked over 180 million ATOM tokens to become validators on its 'Cosmos Hub,' a proof-of-stake blockchain that comes under one of many hubs on the Cosmos network.

Commenting on this, Twitter user Pentoshi noted that the rising number of staked ATOM has been influential in pushing its price upward.

https://twitter.com/Pentosh1/status/1466629898512965632
<h2><strong>Could ATOM Hit $100 Next?</strong></h2>
Another analyst on Twitter noted that ATOM would continue its rally upward based on similar gains posted by one of its top blockchain rivals, Avalanche (AVAX), earlier this year.  Based on the chart shared, ATOM could easily hit $100 in the medium term.

https://twitter.com/SmartContracter/status/1462508741987737600?s=20

Cosmos is set out to become the “Internet of blockchains.” The blockchain network connects individual networks and offers interoperability between chains via the IBC Protocol. Over 20 blockchains, including Cosmos Hub, Osmosis, Crypto.Org, and Terra, are now connected in the Cosmos ecosystem that allows independent blockchains to talk to each other and transfer data and assets.

Cosmos (ATOM) Could Make Big Moves in the Upcoming Weeks

Cosmos (ATOM) is in the process of recording major gains in the upcoming weeks because its longer-timeframe chart is showing a bullish continuation pattern. 

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Cosmos (ATOM) Could Make Big Moves in the Upcoming Weeks

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