👀 Cosmos Price Forecast: A Bull Run Ahead or Bears Strike Again?
The broader markets saw a strong comeback by the bulls this week after a sharp downfall in the previous sessions. Cosmos (ATOM) price had already been in a declining trend, which widened as the market suffered weakness.
However, the recent sessions saw a strong comeback by the bulls in the broader markets and Cosmos. In recent sessions, ATOM made a strong comeback of nearly 15%. ATOM was exchanging hands at close to $5.21 at the time of writing, recording a positive development of 2.44% intraday.
Despite the recent recovery, investors fear another selloff as the long-term trend still points to the bearish side. However, analysts noted a slight change in the on-chain data. This hinted that the recovery may continue to prevail rather than any correction ahead.
🔸 Weighted Sentiment Curve Adds Improvement to Investors’ Sentiment
While the broader market is regaining strength, investors are searching for potential cryptocurrencies that may generate short-term returns on their capital.
Despite being in a long-term bearish trend, Cosmos (ATOM) might have the potential to generate impressive returns in the short term, as per analysts.
Analysts have noted a significant development in the recent sessions in an important on-chain metrics weighted sentiment.
The positive sentiment has grown rapidly in recent sessions. Moreover, the weighted sentiment curve has shifted to positive territory, indicating a continuation of the recovery.
The weighted sentiment curve represents the current bias of the traders and investors, whether positive or negative, and where it is headed. A positive sentiment dominates if the weighted sentiment curve hovers above the zero line and vice versa.