The crypto market is showing signs of recovery: Ethereum (ETH) has gained 3% weekly, giving some altcoins like Cosmos (ATOM) and Bittensor (TAO) a chance to correct after periods of selling pressure.
Cosmos (ATOM) Recovery
On the weekly chart, Cosmos (ATOM) has formed a double-bottom pattern, which often indicates the end of a downtrend. After failing to break above the $10.67 resistance in December 2024, ATOM's price fell to long-term support at $3.50 in both January and March 2025. Now, ATOM has risen to $4.93, potentially signaling a trend shift. The MACD is also nearing a bullish crossover, which could suggest further growth.
Trends for Bittensor (TAO)
Bittensor (TAO) is showing similar recovery signs, forming a double-bottom after failing to break through the $743 resistance in December 2024. TAO experienced a prolonged decline, reaching a second bottom at $212 before rising to $252. If TAO follows ATOM's trajectory, it may continue upward toward key resistance levels.
Prospects for ATOM & TAO
ATOM shows signs of recovery, and if it can breach key resistance levels, it may confirm a trend reversal. TAO is still in the early stages of a potential reversal, and if it mirrors ATOM, further gains could ensue. Both tokens display promising reversal patterns, but broader market conditions will heavily influence their next moves.
Ethereum and altcoins such as ATOM and TAO are starting to show signs of recovery. However, their future movements will largely depend on overall market dynamics and Ethereum's ability to maintain its position.
