The three altcoins cosmos (ATOM), OKB and ravencoin (RVN) all pumped in the market today, as sentiment in nearly all major cryptoassets improved markedly.
Cosmos
For ATOM, the native token of the Cosmos chain, the pump began Friday morning around 7 am UTC, when ATOM suddenly surged through the USD 14 level, after a failed attempt at the same one day earlier. The price went on to reach as high as USD 17.2, before falling back below the USD 16 level.
From a technical analysis standpoint, ATOM now looks like it could rally further, with no significant resistance levels ahead of it. However, the Relative Strength Index (RSI) has already moved into ‘overbought’ territory on the daily timeframe, indicating that the rally may become overextended.
ATOM price since July:
Cosmos is a blockchain network that aims to offer interoperability between different blockchains. The network relies on the proof-of-stake (PoS) consensus mechanism – the same technology that Ethereum (ETH) is moving to...
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