Cosmos (ATOM ) Primed For 40% Upswing, Watch Next Levels For ETH, AVAX & LUNA

Cryptocurrency prices today plunged with Bitcoin trading below the $44,000 level in what has been a volatile week for the digital tokens. The world’s most popular cryptocurrency, Bitcoin was down nearly 3 per cent at $$43,084.90. 

Many altcoins are down over 5%, including LUNA, DOT, SHIB, MATIC, ATOM, LINK, NEAR, UNI, ALGO, LEO, and FTM. On the other hand, THETA rallied 21% and broke the $4.00 resistance, increasing its weekly gains to 45%. 

Cosmos (ATOM)

Host of Popular Crypto channel InvestAnswers predicted to “skyrocket” is on his list. Cosmos (ATOM), a network of numerous separate but interconnected blockchains known as zones, is expected to grow by roughly 40% in a month or less, according to InvestAnswers’ 409,000 YouTube followers.

“It’s pretty clear to me that we will hit $45 in probably a month or less. It [ATOM] just looks absolutely perfect and set to skyrocket as we go forward. Not much selling pressure on the horizon and we should be able to get to that level [of] $45 which it hit four or five times in the last couple of months.”

Ethereum (ETH)

Next, according to InvestAnswers, Ethereum (ETH) is currently trading at the 0.5 Fibonacci level, which is a major Fibonacci retracement level that signals the midway point of a trend. If ETH manages to break over the 50 and 200-day moving averages, the crypto expert believes it would set a new all-time high.

According to him we are approaching the 0.5 Fibonacci level, which is at $3,300. It’s also worth noting that we must break through the 50-day moving average. Then there’s the 200-day moving average to break through. Then we’ll hopefully get to $3,700. Then it’s $4,150. Following that, a new all-time high of $4,800 was set.

Terra (LUNA)

The native token of Terra (LUNA), a blockchain platform that consists of a suite of decentralized stablecoins, is next on the list. After bouncing off the 200-day moving average, the crypto researcher believes LUNA is aiming for the $65 price level.

He said that the coin is moving back to $65, which is the 0.386 Fibonacci level. Then, you know, LUNA may move very, very quickly when it wants to.

Avalanche (AVAX)

The native coin of Avalanche (AVAX), a smart contract-enabled blockchain, is next on the list. Based on the Relative Strength Indicator, the crypto analyst believes AVAX is overbought (RSI). The RSI indicator goes from 0 to 100, with 70 or higher indicating overbought conditions and the possibility of a rally ending, and 30 or below indicating oversold conditions and the possibility of a sell-off ending.

The host said that Avalanche was turned down at the $95 level. It’s now at $87, and the RSI is rapidly reaching overbought territory. However, the price of $95 was a strong selling feature.