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Star Atlas, Solana-Based Game To Host 1000 Player Stress Test — Is ATLAS Going to Start Moving Up?

Last Updated January 17, 2024 1:08 PM
Nikola Lazic
Last Updated January 17, 2024 1:08 PM

Key Takeaways

  • The Solana-based gaming project is finally showcasing a robust product with +1,000 players.
  • ATLAS token has recovered by over 400% since last October.
  • The corrective structure is seen by a breakout soon expected.

ATMTA, the company behind the Solana-based game Star Atlas, is preparing for a 1,000-player stress test on private servers to demonstrate the game’s immersive environments and the integration of MetaGravity technology. 

This test, part of the game’s development process, will involve real players in a single server instance to evaluate performance. Star Atlas, which combines MMO elements with Solana NFTs and tokens, is developing a rich, persistent Metaverse and has already made a mark with smaller-scale projects like SAGE Labs, contributing significantly to Solana network traffic.

Star Atlas has garnered attention since its launch in 2021 and now, despite being in beta, especially at events like the 2023 Solana PlayGG in San Diego. But with the bear market, many Metaverse projects faded from the investor’s attention, which was also the case with Start Atlas and was reflected in the ATLAS token price.

As the bullish sentiment returns and the platform displays a working product, can the newly found interest be sparked along with the rising price of ATLAS? 

ATLAS Price Analysis  

Since its peak of $0.22 on November 25, 2021, the price of the ATLAS token has been on a continuous downtrend, making a multi-year bear cycle. The momentum was sustained until it fell to $0.0013 on July 11, 2023, its all-time low. 

Macro perspective
First signal of a starting bull cycle.

It started forming a price plateau, moving between $0.0013 and $0.0016 for about 100 days, but finally, on October 22, it started increasing again and breaking out from the minor range. It did so with strong bullish momentum, gaining 460% measured to its high of $0.0078 on December 1. 

This rise could have signaled the start of the new bull cycle for the price of ATLAS, and as we saw a pullback of 37% since the high, this could be its first bull market correction. Although it is still a shallow one, with some recent bullish signs, it could be over. 

Daily chart
First two waves of a larger uptrend.

Zooming into the recent declining structure, we see a three-wave move, typical of a corrective pattern. With the recent price rise of 15% from January 14, there is a strong chance we have seen the beginning of the next upward move that will result in a higher high. However, the price is still within the bounds of the descending triangle.

This is why, to expect further upside, we first need to see a breakout above the descending resistance level. If rejected, it could be sent for another lower low, but likely a final one. As this descending triangle is likely a corrective one, we would eventually expect further uptrend continuation. 

Disclaimers

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

 

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