Analyst Predicted Upward Squeeze For Cosmos

It has been just revealed the fact that an important analyst predicted an upward squeeze for Cosmos. Check out the latest reports about the matter below.

According to a well-known crypto strategist, the blockchain ecosystem Cosmos (ATOM) is expected to experience a surge in value.

The analyst, who goes by the name Kaleo on social media platform X, believes that ATOM is “due for a squeeze” and is bullish on the altcoin.

Kaleo’s chart analysis indicates that ATOM has broken through a multi-month diagonal resistance and the next resistance level is at $16.

As of writing, ATOM is valued at $9.69. Additionally, Kaleo is keeping an eye on Worldcoin (WLD), a crypto project founded by OpenAI creator Sam Altman. The analyst notes that WLD has moved above resistance at $2.55 and is poised for a breakout rally.

“Picked up a bag of WLD.

Nice little pennant breaking above July highs, the market is bullish = send it higher.”

At time of writing, WLD is worth $2.62.

The analyst is also updating his outlook on the move-to-earn project STEPN (GMT). According to the crypto strategist, GMT is now above the resistance of an ascending channel and looks primed for a rally toward $0.65 first with the next target at $1.

“GMT is still up >10% the past couple of days since entry even after the retrace. I’m holding and trusting the plan.”

Not too long ago, we revealed the fact that the governance body of Cosmos Hub has decisively approved a proposal to reduce the maximum inflation rate of its native token, Atom, from approximately 14% to 10%. The change would cause the annualized staking yield of Atom to decrease from approximately 19% to 13.4%.

Cosmos Hub serves as the central blockchain of the Cosmos network, which comprises interconnected blockchains. Atom, the native token of Hub, is utilized for staking, governance, and transaction fees.