Bybit Supports Cosmos Network Upgrade v27.4.0

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

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Network Upgrade Support: Bybit has announced its support for the Cosmos (ATOM) v27.4.0 network upgrade, ensuring that users can continue accessing ATOM services during the transition, which highlights the platform's commitment to user experience.
Infrastructure Updates: The upgrade will involve wallet and node updates, with Bybit managing all necessary infrastructure changes, thereby reducing the risk for users who do not need to take manual actions during the upgrade process.
Continued Trading Services: While network upgrades typically require temporary suspension of deposits and withdrawals, Bybit has stated that spot and derivatives trading for ATOM will continue, ensuring users can still trade during this period, thus enhancing trading flexibility.
User Preparation Recommendations: Bybit advises ATOM holders to complete any time-sensitive transfers before the upgrade window begins to avoid delays during maintenance, ensuring the safety and liquidity of users' assets.

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Technical Analysis for ATOM

Technical Sentiment Analysis for Cosmos (ATOM). As of , Cosmos (ATOM) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ATOM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ATOM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Cosmos (ATOM) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.142	1.35	1.561	1.769	1.98	2.188	2.399
Fibonacci	1.35	1.51	1.609	1.769	1.929	2.028	2.188

About 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.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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