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Cosmos price rebounds 45% in one week despite Terra’s debacle — what’s next for ATOM? -Breaking

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Cosmos price rebounds 45% in one week despite Terra’s debacle — what’s next for ATOM?

Cosmos (ATOMThis May 20th, a solitary cryptocurrency named? () emerged as the largest gainer of the top cryptos.LUNA() An algorithmic stablecoin that has a market value The stock index fell by 99% in the last week.

ATOM’s intraday price rose by more than 10% to close to $12. These gains were part of an overall upside retracement, which began on May 12, when ATOM’s price had dropped to $8. This represented a price rebound of around 45% in just one week.

Chart of daily prices Source: TradingView
Cosmos TVL distribution. Source: Defi Llama
ATOM/USD 4-hour price chart with ascending triangle configuration TradingView

Bullish reversal scenario

ATOM/USD Four-hour price chart showing ascending triangles’ reversal. TradingView