Cosmos (ATOM) Dip A Good Point of Entry?

Cosmos (ATOM / USD) was traded over 7% lower on Tuesday after seeing a significant sell-off in the broader market. Atom caught investor attention after rising nearly 50% last week. Cosmos enables blockchains to transfer values with one another via IBC and peg zones, while they retain their sovereignty. With Cosmos, blockchain applications can be scaled to millions of users through horizontal and vertical scalability solutions.

It looks like Atom might be heading for a small correction after last week's huge rally. Investors who missed the previous rally are now looking for opportunities to get into Atom. However, investors should wait for the right time to jump in, and not just jump in for fear of missing out on the rally. After falling over 50%, investors had lost hope in Atom. However, the recent rally put Atom back on investor radar. Experts believe that the Cosmos Network can grow exponentially in 2022. Hence, they believe that Atom could have tremendous results in the coming weeks as well.

Atom has been in a correction phase for several months. The correction started for Atom in October and has brought the price down over 50%. However, after the rally that started last week, it looks like the correction is over and a new all-time high may be hit soon.
Atom made a strong break out of strong resistance at USD 25 and it now looks like it will retest the support at USD 25 before resuming the rally.
Investors need to be careful as Atom can break the support at $ 25 and head for $ 20 if it collapses. Therefore, a position should be taken as soon as a clear trend reversal is evident.
Investors can set a target of $ 36, followed by $ 44.

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