Fractals, bullish technical analysis patterns and the fact that 67% of the total supply is staked are key reasons why analysts expect ATOM to hit new highs shortly.
Cosmos (ATOM) has the potential to record major gains in the upcoming weeks primarily because its longer-timeframe chart is showing a bullish continuation pattern. Dubbed „bull flag,” the structure appears as the asset trends lower while bouncing between two downward sloping trendlines. However, it eventually breaks out of the range, in the direction of its previous trend, with a profit target at length equal to the size of its previous uptrend which is also known as the flagpole.ATOM/USD weekly price chart featuring Bull Flag setup. Source: TradingViewTherefore, in a „perfect” world, if ATOM is to break above the flag’s upper trendline (with a rise in trading volume), it may rise by as much as the flagpole’s height around $35. This sets a price target near $65
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