Home / Price Predictions / Cosmos Price Prediction 2024: ATOM Price Analysis

Cosmos Price Prediction 2024: ATOM Price Analysis

Last Updated 4 hours ago
Valdrin Tahiri
Last Updated 4 hours ago

Key Takeaways

  • Cosmos (ATOM) is the native coin of the Cosmos blockchain network. 
  • ATOM has not performed well in 2024 and trades close to its yearly low.
  • Our price predictions suggest a bottom will be reached soon.

Cosmos’ ATOM coin has had a pretty tough time of it lately. Any hopes that the recent Gaia v17 upgrade  would boost the price were nixed when the platform suffered an outage for about four hours after its launch on June 5. On July 18, the price of ATOM was $6.45.

Cosmos did not immediately respond to a request for comment

Let’s now take a look at our own price predictions for Cosmos, made on July 18, 2024. We will also examine the ATOM price history, and talk a little about what ATOM is and what it does.

Cosmos Price Prediction 

Here are the Cosmos price predictions from CCN.com on July 18, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, are often wrong.

Minimum Cosmos Price Prediction Average Cosmos Price Prediction Maximum Cosmos Price Prediction
2024 $8 $11.05 $14.10
2025 $36 $48 $60
2030 $17 $21 $25

There are two methods used to create our Cosmos price predictions. Predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

The mean of the two predictions gives the average Cosmos crypto price prediction, the more bullish one is used for the maximum price prediction while the more bearish one is for the minimum.

Fractal Method

In September 2019, Cosmos’ 3-day RSI fell into oversold territory for the first time. It then created a bullish divergence. The divergence developed over 200 days and sparked a 550-day upward movement with a magnitude of 2,300%, leading to a new all-time high price in July 2021.

A similar divergence began in July 2023, continuing for 260 days. While an upward movement has yet to begin, it will do so soon if the movement is similar to 2020 and 2021. The current divergence was 1.3 times lengthier but had a magnitude of only 0.55 compared to the previous one. Using these ratios leads to a $69 all-time high price in March 2023.

Cosmos Price Prediction
ATOM/USD 3-Day Chart | Credit: Valdrin Tahiri/TradingView

Projecting a similarly shaped increase gives our ATOM price predictions of $8 and $36 for the end of 2024 and 2025, respectively.

Wave Count Method

In 2019 and 2022, ATOM created an irregular A-B-C correction and final decline before beginning its upward movement. In 2019, the top of the first wave was made at the 1.27 external Fibonacci retracement of the correction. The assumption is made that the same will happen in the current movement.

Then, we can use the 3.61 extension of the projected wave one to arrive at an all-time high price of $61 for the end of the market cycle. If both movements have the same length, ATOM will reach this high in January 2026

Projecting a similar rate of increase leads to Cosmos price predictions of $14.10 and $61 for the end of 2024 and 2025, respectively.

Cosmos Price Prediction 2025
ATOM/USD Weekly Chart | Credit: Valdrin Tahiri/TradingView

Finally, we use the daily rate of increase for the past four years to make a Cosmos price prediction for the end of 2030. ATOM has increased roughly 1% per day since July 2020, and projecting this increase until the end of 2030 leads to a Cosmos price prediction of $21. Adding and removing 20% from this target leads to our minimum and maximum Cosmos price predictions.

Cosmos Price Prediction for 2024

Our wave count and fractal price predictions both indicate Cosmos will be increasing at the end of 2024. However, they predict a different rate of increase, leading to Cosmos price predictions for 2024 of $8 and $14.10, respectively.

Cosmos Price Prediction for 2025

The wave count and fractal predictions suggest that Cosmos will be reaching its all-time high by the end of 2025, giving price predictions of $36 and $60, respectively. 

Cosmos Price Prediction for 2030

Finally, we use the daily rate of increase of the past four years to arrive at our Cosmos price prediction for the end of 2030, at a range between $17 and $25.

Cosmos Price Analysis

The daily time frame ATOM price chart shows that the price broke out from a descending resistance trend line existing since the yearly high in March. If this is the case, ATOM has started an upward movement toward the 0.5-0.618 Fibonacci retracement resistance area at $9.80 – $10.90.

The daily time frame RSI and MACD support the validity of this increase. They have both generated bullish divergences (green), something that often precedes upward movements.

Cosmos Price Breakout
ATOM/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

As a result of the bullish price action and indicator readings, the price of Cosmos is likely to increase toward this resistance area.

Short-Term Cosmos Price Prediction

The Cosmos price prediction for the next 24 hours rests on the assumption that ATOM will continue its increase toward the 0.5 to 0.618 Fibonacci retracement resistance area. If the same rate of increase continues, the ATOM price will be trading higher on July 19, possibly approaching $7. Then, it is likely to increase toward $8 before suffering a more notable drop.

Cosmos Short-Term Price Movement
ATOM/USDT 2-Hour Chart | Credit: Valdrin Tahiri/TradingView

Cosmos Fear & Greed Index

The Fear & Greed Index   measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview.

Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction.

Fear & Greed
  Fear & Greed Index

On July 18, 2024, the Fear & Greed Index was at 61, a sign of greed. It showed fear at 28 last week and it showed greed at 74 last month.

Cosmos Average True Range (ATR): ATOM Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

Cosmos Weekly ATR
ATOM Weekly ATR | Credit: TradingView

On July 18, Cosmos’s weekly ATR was at 1.2, a sign of low volatility. It has fallen since its all-time high of 9 in January 2022. Divided by the $6.50 ATOM price, the ATR is 0.19.

Cosmos Relative Strength Index (RSI): Is ATOM Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.

Cosmos Weekly RSI
ATOM Weekly RSI | Credit: TradingView

On July 18, 2024, Cosmos’s weekly RSI was at 38, a sign of a bearish trend.

Cosmos Price Performance Comparison

Cosmos is a blockchain, so let’s compare its performance with other similar projects.

Current Price One Year Ago Price Change
Cosmos $6.49 $9.18 -30.6%
Ethereum $3,443 $1,891 80.8%
Solana $159.3 $25.34 511.4%
Avalanche $27.73 $13.85 97.3%

The data reveals that Cosmos has been the worst performer and the only one with a negative rate of increase.

Best Days and Months to Buy Cosmos

We took a look at the Cosmos price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy Cosmos.

Time to Buy ATOM Days, Months, and Quarters
Best Day Friday
Best Week 6
Best Month February
Best Quarter Third

ATOM Price History

Let’s take a closer look at the Cosmos (ATOM) price history. While past performance isn’t necessarily indicative of future results, understanding what ATOM has done can help us contextualize future predictions.

2019-2020: ATOM first came onto the open market in March 2019 at around $7.40. It quickly declined, spending much of the next two years between $3 and $5. The all-time low came on March 13, 2020, as global markets were hit by the COVID-19 pandemic, and ATOM sank to $1.13.

2021: There was a turnaround in early 2021 as the crypto market flourished, and ATOM reached a high of $32.14 on May 12. Despite a summer slump, it rebounded in the autumn, hitting an all-time high of $44.70 on September 20. It closed the year at $32.47.

2022: ATOM started 2022 well, peaking at $44.45 on January 17, boosted by a partnership with the Terra blockchain. Terra’s collapse in May led to market turmoil, and by mid-June, ATOM dropped to $5.59. The FTX exchange’s bankruptcy caused it to close the year at $9.34, marking an annual loss of over 70%.

2023: The start of 2023 was more positive for Cosmos. ATOM traded at $15.36 on February 3 but then declined. The slide worsened after the SEC labeled ATOM an unregistered security. It dropped below $10 in early June, hitting a low of $7.50 on June 10 after Crypto.com suspended its American institutional arm and ended the year at $10.99.

2024: ATOM started 2024 with a downtrend, falling below $9 in early February. There was a recovery to $14.48 on March 7, but the price declined again. By July 2024, ATOM was worth $6.45.

Cosmos Price History
Cosmos Price History | Credit: CoinGecko
Period Cosmos Price
Last week (July 11, 2024) $6.11
Last month (June 18, 2024) $6.48
Three months ago (April 18, 2024) $8.32
One year ago (June 18, 2024) $9.18
Five years ago (July 18, 2019) $4,21
Launch price (March 14, 2019) $6.43
All-time high (September 20, 2021) $44.70
All-time low (March 13, 2020) $1.13

ATOM Market Cap

The market capitalization, or market cap, is the sum of the total number of ATOM in circulation multiplied by its price. On July 18, 2024, Cosmos’ market cap was $2.72 billion, making it the 42nd largest crypto by that metric.

Cosmos Market Cap
Cosmos Market Cap | Credit: CoinGecko

Who Owns the Most Cosmos (ATOM) Tokens?

As of July 18, 2024, the five wallets with the most Cosmos tokens  were

  • cosmos1p3ucd3ptpw902fluyjzhq3ffgq4ntddac9sa3s. This wallet held 30,613,881 ATOM, or 8.44% of the supply.
  • cosmos1nm0rrq86ucezaf8uj35pq9fpwr5r82cl8sc7p5. This wallet held 9,417,297 ATOM, or 2.60% of the supply.
  • cosmos14lultfckehtszvzw4ehu0apvsr77afvyhgqhwh. This wallet held 9,403,772 ATOM, or 2.59% of the supply.
  • cosmos15hmqrc245kryaehxlch7scl9d9znxa58qkpjet. This wallet held 9,288,881 ATOM, or 2.56% of the supply.
  • cosmos1cj7u0wpe45j0udnsy306sna7peah054upxtkzk. This wallet held 8,521,057 ATOM, or 2.35% of the supply.
Supply and Distribution Figures
Total Supply 390,930,671
Circulating Supply as of July 18, 2024 390,688,399 (99.99% of the total supply)
Holders Distribution as of July 18, 2024 Top 10 holders owned 27.74% of the supply

Cosmos (ATOM) Explained

The world of crypto is intertwined with that of blockchain technology. While pretty much every crypto is based, directly or indirectly, on a blockchain, they are not without their issues. For instance, it can be hard to transfer assets between different blockchains. This is where Cosmos comes in.

Cosmos  is a de facto blockchain network, with lots of smaller chains which can link up with each other to process information and carry out transactions. People can use their own blockchains to create their own programs and applications.

Cosmos, which was first created in 2016 by computer programmers Jae Kwon, Zarko Milosevic and Ethan Buchmanis powered by the Cosmos coin, which goes by the ticker handle ATOM. Cosmos had an initial coin offering (ICO ), raising $17.3 million and it came onto the open market in 2019.

How Cosmos Works

Cosmos features two kinds of chain, hubs and zones. Zones are the regular chains, which process information, and hubs link the zones together. The main hub is the Cosmos hub itself, which has every zone linked to it. 

There are three segments to the network. Consensus helps the computers, or nodes, which run the platform agree on activity, networking sees the nodes communicate with each other and application processes transactions and updates the network. 

Cosmos uses a Proof-of-Stake (PoS) consensus mechanism, which means that people can stake, or set aside, ATOM in order to add blocks to the blockchain and earn rewards. ATOM holders can vote on decisions affecting the network.

Is Cosmos a Good Investment?

Cosmos has consistently been somewhere around the top 30 cryptos over the last few years, with crypto investors putting their money into the coin. However, its success has put it in the sights of the SEC, with the regulator accusing it of being an unregistered security. What happens now is, unfortunately, anyone’s guess. As well as having to fight off the authorities, Cosmos will have to reiterate its usefulness to the crypto community as a whole. Going down after its latest upgrade will not have endeared it to investors, either. 

A lot will also depend on how the market behaves in the future. As always, you will have to make sure you do your own research.

Will Cosmos go up or down?

No one really knows right now. While a lot of price predictions are upbeat in their Cosmos crypto price predictions, price forecasts are very often wrong. You should also remember that prices can, and do, go down as well as up. 

Should I invest in Cosmos?

Before you invest in Cosmos, you should make sure that you do your own research, not only on ATOM, but on other competitor cryptos, such as Algorand (ALGO) and Chainlink (LINK). At the end of the day, though, you will have to make this decision for yourself. Before you do so, you will need to make sure that you remember never to invest more money than you can afford to lose. 

 

FAQs 

How many Cosmos are there?

As of July 18, 2024, there were 390.6 million ATOM in circulation.

Will Cosmos reach $100?

Our price predictions suggest that ATOM will not reach $100 in the near future.

What is Cosmos used for?

The Cosmos (ATOM) coin is used to help power the Cosmos blockchain network. ATOM’s holders can stake it in return for rewards and it can be bought, sold, and traded on exchanges.

Disclaimer 

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.