Cosmos Steadies Amid Market Tumult, Boasting Low Volatility

Cosmos (ATOM) is a low-volatility cryptocurrency that has outperformed the market in recent days. ATOM's volatility rank of 24 signifies a stable asset with narrow price swings, making it less susceptible to sudden or extreme fluctuations. Despite its low volatility, ATOM is currently trading near resistance levels, potentially indicating potential volatility in the near future.

Cosmos Maintains Low Volatility Amidst Crypto Market Turbulence

Cosmos (ATOM), a decentralized blockchain network, has demonstrated relative stability in its price action compared to other cryptocurrencies during recent market fluctuations.

On Saturday, ATOM exhibited an uptick of 2.76%, reaching a price of $12.71. This rise reflects a trend observed throughout the past day.

Low Volatility Rank

InvestorsObserver, a provider of cryptocurrency analysis and market insights, has assigned Cosmos a low volatility rank of 24, indicating that it falls within the bottom 24% of cryptocurrencies in terms of price volatility.

The Volatility Gauge, which assesses a cryptocurrency's price fluctuations over time, suggests that a single day's price movement does not solely determine its volatility rank. Instead, the gauge considers a broader trend to provide a more comprehensive assessment.

Narrow Price Swings and Price Manipulation Protection

ATOM's low volatility rating is complemented by a low reading on the Risk/Reward Gauge. This combination indicates that the cryptocurrency exhibits relatively narrow price swings and is well-protected against price manipulation, reducing the potential for sudden and drastic price changes.

Trading Above Resistance

Currently, Cosmos is trading above its resistance level of $12.63. However, it is also below its support level of $12.09. This positioning places Cosmos in a potentially volatile situation, where a sustained rally may lead to a breakout or a correction if the upward momentum fizzles out.

Understanding Coins

In the realm of cryptocurrencies, a coin refers to a digital asset that operates on its own blockchain network. Coins are primarily designed for payment purposes. The specific applications of these payments vary depending on the cryptocurrency. Some coins serve as general-purpose digital currencies, while others are tailored to specific uses within certain subcategories of the cryptocurrency market.