Crypto Analyst Cred: Cosmos (ATOM) And Harmony (ONE) Look Very Strong
According to a popular crypto analyst, known as Cred, it might be time for Cosmos (ATOM) and Harmony (ONE) to step up.
Cred writes his analysis on ATOM and ONE in the latest TechnicalRoundup newsletter.
Cosmos (ATOM)
Cosmos is building up to be an ecosystem of blockchains designed to scale and interoperate with each other. Layer 1 altcoins are still hot and it may be time for last year’s big performers such as Solana (SOL), Terra (LUNA), and Avalanche (AVAX) to make way to ATOM, according to the analyst.
“It’s still Layer-1 season in altcoin land, and the market is already becoming bored of SOL-LUNA-AVAX. The somewhat new shiny thing is Cosmos (ticker: ATOM). We could make a fundamental-oriented argument for Cosmos specifically based on inter-chain staking, the inter-blockchain communication protocol, and a bunch of other stuff that smart people have been writing about. Realistically… it’s an L1 that pumped less than a lot of others…”
Cred identifies certain key levels to watch in ATOM, both against USD (ATOM/USD) and Bitcoin (ATOM/BTC).
As for technicals, BTC and USD pairs are above key resistance levels. Cosmos looks strong as long as 0.00076 in the BTC pair and $28 in the USD pair are intact as support.”
The other altcoin that Cred is seemingly interested in is Harmony (ONE). Harmony is an open-source blockchain that can run Ethereum applications faster and at a lower cost.
According to the analyst, he likes the fact that veteran crypto trader and fellow analyst Hsaka is also bullish on ONE. That added to sound technical setups, Cred believes that ONE is ready to move up.
“Same rules as Cosmos are applicable. That is to say, market looks like it’s forming a technical breakout on both pairs (360 sats-529 sats on the BTC pair, and roughly $0.30 on the USD pair). If it sticks, great. If it falls or flounders, the timing is probably off and Hsaka will be buying your liquidation.
As cynical as it may be, the market is always looking for something new and shiny to chase. We’re being honest and arguing that the new Hsaka basket is a likely benefactor, market conditions permitting.”
