Serban’s Crypto Picks: BUY $ATOM

Cosmos $ATOM – This project has been accumulating for 2 month now and has just now broken the long-term resistance line which is exactly the moment we want to catch for a good trade; we expect this to come back down and retest this resistance line, therefore turning it into support for the next leg up. We’re watching this one closely and setting a buy order between $22 – $23.4 which would be an amazing entry before the rally that is likely to come.
Setting a SL between $18 – $19.5 because that would result in a lower low and therefore invalidating our trend for this play.

We’re looking for a target growth of 70% – 80% so set your TP orders according to your risk aversion here.

Description from Coinmarketcap: What Is Cosmos (ATOM)?

In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.

The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry.

Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, a white paper for Cosmos was published — and a token sale was held the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.