Analysts: Kazmas can grow as astonishingly as Olench
Despite the sharp decline in the digital currency market, some analysts expect the price of Cosmos to grow dramatically in the coming months, reaching a new all-time high. In the 1-week market view of this digital currency, a pattern can be seen that, if approved, can be accompanied by a 100% price increase.
To Report Experts believe that the Kazmas digital currency, known as “ATOM” in the market, has the potential to experience astonishing growth in the coming weeks; Because in the long run, its market shows a continuous upward pattern.
This pattern, called the “ascending flag”, is formed when the price fluctuates between two downward trend lines after the growth of several consecutive candlesticks. As this pattern continues to form, the price deviates from the upper trend line or the channel ceiling and grows in line with previous uptrends. The purpose of the ascending flag pattern is equal to the sum of the height of the previous ascending candlesticks, also known as the “flagpole”.
Therefore, ideally, if the price of Casmas were to cross the trend line above the flag pattern as the trading volume increases, it may rise to the height of the first bar, which is about $ 35. This could push the price towards the $ 65 target of the bullish pattern. It should be noted that this goal is based on the current possible breaking point and can be somewhat variable.
Also read: Ascending Flag Pattern and Descending Flag Pattern; Complete training
The Kazmas upward trend was unveiled when the price of this token from the bottom of $ 7.82 in June (June) increased by more than 330%, reached its peak this week near $ 36.
The lack of circulating tokens can be effective in guiding buyers to the market of this digital currency. Data from the Messari platform show that about 64% of Kazmas’s current offering is owned.
As can be seen from the image above, Kazmas investors have invested more than 180 million tokens to become one of the Cosmos Hub network validators. Cosmas Hub is a blockchain based on stock proof and one of the many hubs of the Casmas network. In return for these shared tokens, users will receive a portion of the network transaction fee and a block extraction bonus.
Pentoshi, one of the digital currency market analysts, emphasized that the increase in the number of stock exchanges has been effective in increasing the price of this digital currency.
He noted that Kazmas sellers were losing power, citing two price corrections in the fourth quarter of this year that were halted in the middle of the road near the previous price point of the token due to increased buying pressure. Pentoshi believes that there are clearly “signs of accumulation” in the Kazmas market.
Bluntz, another digital currency market analyst on Twitter, predicts that Kazmas could grow as dramatically as its rival digital currency, the Olench, early next year.
Like Pentoshi, Bluntz thinks that Casmas has a chance to reach his previous record and use it as a foothold to continue his upward trend. Olench, meanwhile, grew about 250 percent after forming strong support in the $ 50- $ 60 range.
Kazmas is currently trading at around $ 26, yet Bluntz believes the digital currency could easily rise to $ 100 in the medium term.
