ATOMUSDT

Date: March 22, 2025
The cryptocurrency market is showing tentative signs of recovery as Ethereum (ETH) posts a 3% weekly gain, while Bitcoin's (BTC) dominance declines by 0.71%, giving altcoins some room to breathe after a prolonged period of selling pressure. As market sentiment begins to improve, altcoins such as Cosmos ($ATOM ) and Bittensor ($TAO ) are starting to show early signs of potential rebounds.
Cosmos (ATOM): Initiating a Strong Recovery
Cosmos (ATOM) has already embarked on a significant recovery, surging by 41% from its recent low of $3.39. This move has erased its 30-day losses, and ATOM is now trading in the green.
On the weekly chart, ATOM has formed a double-bottom pattern, a classic technical formation often signaling the end of a downtrend. The structure developed after ATOM failed to break above the $10.67 resistance level in early December 2024, leading to a sharp decline that saw the token revisit its long-term support at $3.50 twice – once in January and again in March 2025.
Following the formation of this pattern, ATOM has rebounded to $4.93, indicating early signs of momentum shift. Further supporting the bullish outlook, the MACD (Moving Average Convergence Divergence) indicator is nearing a bullish crossover, which could signal the continuation of the uptrend if confirmed.
ATOM's next significant challenge lies at the 25-week moving average (MA). A breakout above this level could trigger a sustained rally, potentially pushing the price toward the $10.67 neckline resistance. A successful breakout above this resistance would pave the way for a possible move toward the $14+ zone, providing substantial upside potential for traders.
Bittensor (TAO): Following a Similar Recovery Path?
Bittensor (TAO) appears to be mirroring ATOM’s recovery trajectory, forming its own double-bottom structure after failing to surpass the $743 resistance in December 2024. Following this rejection, TAO underwent a prolonged decline, bottoming out at $212 before bouncing back to its current price of $252.
Buyers have stepped in to defend this support level, leading to the recent price bounce, which suggests that the selling pressure is beginning to subside. If TAO follows ATOM’s path, further gains could propel the token toward key resistance levels.
Like ATOM, TAO's MACD indicator also suggests a potential bullish crossover, further aligning with the possibility of continued upside momentum. If this pattern holds, TAO may attempt to reclaim the $743 neckline resistance, echoing the current movement seen in ATOM.
Outlook for ATOM & TAO
ATOM has already begun its recovery, and bullish momentum is gradually building. If the price can maintain its rally above critical resistance levels, it could signal a confirmed trend reversal, opening the door for further gains.
TAO, still in the early stages of its potential reversal, has shown promise with a recent bounce off support but has yet to confirm a strong breakout. Should TAO follow ATOM’s trajectory, it could build momentum in the coming weeks, but confirmation is still needed.
Both ATOM and TAO are presenting promising reversal patterns, yet broader market conditions, particularly ETH’s ability to sustain its recovery, will play a pivotal role in their next moves.
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