As ATOM’s price falls 4% in 7 days, predictions advice caution

January 23, 2024

By Dipayan Mitra

Edited By: Saman Waris

• ATOM was down by more than 4% in the last seven days. 

• On-chain metrics and market indicators looked optimistic for ATOM. 

Cosmos [ATOM] bore losses over the last few days as its value plummeted by 4.3% in the last several days. In the last 24 hours alone, it was down by 2%.

According to CoinMarketCap, at the time of writing, ATOM was trading at $9.63 with a market capitalization of over $3.6 billion.

ATOM is near a key support level

In a tweet dated the 21st of January, Michaël van de Poppe noted that ATOM’s price was near a critical support level. Also, the $7.50–9.00 zone was a crucial area to hold.

If ATOM manages to hold on to the aforementioned level, then the token’s price may reach $22–26 over the coming weeks.

What should investors expect?

To understand whether ATOM would be able to hold its ground, AMBCrypto delved deeper into its on-chain metrics.

Our analysis of Santiment’s data revealed that ATOM’s Social Volume remained high throughout the last week, reflecting its popularity in the crypto space.

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