After the latest U.S. Consumer Price Index (CPI) data, which surprisingly exceeded expectations, there was a noticeable impact on the crypto market. The CPI news led to a slight decline in its global capitalization which is now hovering around $1.87 trillion. Bitcoin wasn't spared from the market's reaction, experiencing a 12% drop in its daily trading volume and a $48,470 intraday low shortly after the CPI report. The unchanged interest rates by the Federal Open Market Committee (FOMC), currently at 5.25% to 5.5%, added to this bearish sentiment. With the next FOMC meeting slated for March 20, there's a growing anticipation about the committee's decision, especially given that the probability of maintaining the current interest rates stands at a high 89.5%.
However, in today’s session, Bitcoin has already reclaimed the $50,000 mark, surging to as high as $51,370. In the midst of this broader market scenario, the Cosmos (ATOM) ecosystem is attracting significant attention, especially with its emerging projects Celestia (TIA) and Dymension (DYM). Despite the market's general downtrend post-CPI, ATOM has bucked the trend, recording a positive gain of 3%. However, TIA and DYM have felt the market's chill, each witnessing a decline of about 1%. This mixed performance in the altcoin sector hints at a nuanced and selective investor sentiment.
Meanwhile, ScapesMania (MANIA), another nascent project, has successfully completed its presale stage. Its upcoming DEX listing is highly anticipated and expected to cater to a wider audience of crypto investors.
Ride The Wave of Innovation with ScapesMania
The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future.
The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away.
Your Last Chance to Boost Potential Returns Post Listing
The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry.
Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the $376 billion gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading.
The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream.
ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the award-winning team behind ScapesMania secured a prestigious grant from a prominent player in the blockchain industry.
Furthermore, ScapesMania is notable for putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is where ScapesManias stands out.
Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative.
TGE ALERT – Keep Up With Latest News
Cosmos (ATOM) Price Analysis
Source: TradingView
Cosmos (ATOM) has recently demonstrated some bullish traits that hint at potential growth in future sessions. Its recent performance is commendable, with a 12% increase over the past week and a 6% rise in the last three months reinforcing the reliability of this uptrend. A retrospective glance at ATOM's price structure on the daily chart reveals a significant surge from a demand zone of around $6.2 to $12.5 in October 2023.
However, this upward trajectory was halted due to a supply region presence, causing a breach in the uptrend and establishing a support level at approximately $8.7. The current trading dynamics, with Cosmos (ATOM) moving between $8.97 and $10.39, further amplify this narrative.
Cosmos (ATOM) Technical Outlook
ATOM's Exponential Moving Averages (EMA) for 10, 50, and 200 days are $10.14, $9.83, and $9.72, respectively, indicating a bullish crossover as the shorter EMAs are above the longer one.
The Commodity Channel Index (CCI) at 89.31 aligns with a growing bullish sentiment. The MACD Level at 0.121 and a Momentum of 0.331, although modest, support the ongoing uptrend.
The Relative Strength Index (RSI) at 62.15 suggests that Cosmos (ATOM) is in the upper range of the neutral zone, leaning towards overbought territory but not yet there. The Stochastic %K, significantly high at 83.54, reinforces this possibility of an overbought condition.
However, the Average Directional Index (ADI) at 17 shows a lack of strong trend.
Cosmos (ATOM) Price Prediction
Considering the bullish and bearish scenarios, if ATOM maintains its momentum and breaks past the first resistance at $10.39, it could target the second barrier at $11.04, and potentially aim for the more ambitious ceiling at $12.47, moving closer to its previous high from October 2023. The bullish outlook is supported by the increased trading volume which has surged by 160% over the past week.
On the flip side, a bearish scenario could emerge if Cosmos (ATOM) fails to sustain its current level and breaks below the immediate support at $8.97. This could lead to a test of the second threshold at $8.19 and potentially even the third defense line at $6.76. Such a downturn could signify a loss of buyer momentum and a shift in market sentiment.
With ATOM's all-time high at $44.45 and its current market cap ranking at #23, the coin's performance in the coming sessions will be crucial in determining its trajectory in the crypto market.
Dymension (DYM) Price Analysis
Source: TradingView
Dimension (DYM), a newcomer in the blockchain space, has been creating waves since its introduction on February 6, 2024. This layer-1 (L1) blockchain, utilizing Proof-of-Stake (PoS), made a grand entrance with an airdrop to eligible users in the EVM, Cosmos (ATOM), and Solana ecosystems. Dymension's (DYM) modular RollApps, powered by the Dymension RollApp Development Kit (RDK), promises enhanced security and interoperability – a significant leap forward in addressing the scalability and congestion issues plaguing traditional blockchains.
With its recent listing on KuCoin, DYM has gained additional accessibility and liquidity. Currently, the token is trading between its first support at $6.36 and first resistance at $7.37, showcasing a robust market presence with a market cap of over $1 billion and a significant 55% surge in the past month, despite the recent market corrections influenced by the CPI data.
Dymension (DYM) Technical Outlook
From a technical standpoint, Dymension's (DYM) Simple Moving Average (SMA) at $6.53 and EMA at $7.09 offer key insights. The EMA, being closer to the current trading range, suggests a potential bullish bias in the short term. However, the SMA, slightly below the immediate support, could act as a pivot point for price corrections.
The broader market sentiment, currently leaning towards 'extreme greed' with a Fear & Greed Index of 74, reflects a strong investor confidence in DYM's potential, buoyed by its innovative approach to blockchain functionality and the recent KuCoin listing.
Dymension (DYM) Price Prediction
Looking at possible scenarios, the bullish perspective hinges on Dymension (DYM) maintaining its momentum above $6.36, potentially targeting the next resistance at $7.68. If the investor optimism continues, fueled by DYM’s unique offerings and market performance, a break past $7.68 could pave the way for testing $7.87.
On the flip side, a bearish scenario might unfold if Dymension (DYM) breaks below its initial support, possibly due to market corrections or external factors affecting investor sentiment. Such a move could see the token test lower grounds at $6.67 or even $6.86, challenging the resilience of DYM's market value.
Celestia (TIA) Price Analysis
Source: TradingView
After its mainnet launch at the end of October 2023, Celestia (TIA) has seen a significant rise in network activity and user engagement. This positive momentum has been reflected in its rising holder count, now at 905,000, and an all-time transaction count of 1.3 million. TIA experienced a slight downturn by mid-January but made a remarkable recovery, soaring to an all-time high (ATH) of $20.91 by the second week of February.
This recovery journey saw TIA initially trading at $12.17 on January 3, spiking 46.5% to $17.84 by January 19, then experiencing a dip to $15.14 on January 25, before its eventual rally to the ATH. The recent partnership with Starknet aimed at providing data availability services to layer-3 chains has further boosted Celestia's (TIA) popularity, with analysts predicting continued high network activity.
Celestia (TIA) Technical Outlook
From a technical analysis perspective, TIA is currently trading between its first support level at $17.24 and first resistance level at $21.33. The EMAs show a relatively stable trend over the short and medium-term, with the 10-day EMA at $19.31, closely followed by the 50-day EMA at $19.12, and the 200-day EMA at $17.44.
The RSI at 52.3 indicates that Celestia (TIA) is neither overbought nor oversold. The Stochastic %K at 44.4 supports this neutral outlook.
However, the low ADI of 18.2 suggests a lack of strong trend direction. The CCI at 0.3 and the MACD at -0.04 also indicate a market that is waiting for a clear direction.
Celestia (TIA) Price Prediction
In a bullish scenario, Celestia's continued network growth and its recent partnership could drive TIA’s price above its current resistance levels. If market sentiment remains positive and network activity continues to increase as analysts predict, Celestia (TIA) could potentially breach the $21.33 mark and aim for $23.28, with a possibility of reaching and surpassing $24 as per analysts' forecasts.
On the other hand, in a bearish scenario, any negative market shifts or a decrease in network activity could see TIA's price drop back towards its current support levels. A fall below $17.24 could lead to further declines towards $15.11, and potentially even $11.02, if the bearish trend is strong enough.
Final Words
In today's crypto market, the Cosmos (ATOM) ecosystem, with its notable projects Celestia (TIA) and Dymension (DYM), stands out amidst recent market fluctuations influenced by the U.S. CPI data and unchanged interest rates. ATOM has defied the general market downtrend, recording a positive gain, while TIA and DYM have experienced slight declines.
Cosmos' (ATOM) positive technical indicators and growing network activity suggest a potential upward trajectory. Dymension (DYM), with its innovative blockchain functionality and recent surge following its KuCoin listing, is poised for further growth, despite current market corrections. Celestia's (TIA) resilience, marked by its recovery to an ATH and strengthened by strategic partnerships, indicates a bullish future, although it faces potential bearish scenarios if market conditions shift.
As the crypto market navigates through these uncertain times, Cosmos (ATOM), Celestia (TIA) and Dymension (DYM) demonstrate the varied responses and opportunities within the sector, reflecting the intricate and ever-changing nature of cryptocurrency investments.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
