After a 3-week long uninterrupted rally, which saw Cosmos (ATOM) gaining 133% and establishing the new all-time high at $8.86 on August 25, the price revisited the multi-month support level at $3.8 in a stunning episode of selling action that took place throughout September.
1-week ATOM/USDT chart
The bulls are slowly regaining the initiative
During that time, ATOM lost 57% of its value in three large drops, instigated by the worrying news about the escalating coronavirus pandemic and the correspondingly large price fall across traditional markets - S&P 500, for instance, lost 10.5% in 21 days after months of the straight bull rally.
Despite that, Cosmos remained 100.8% in the green against USD during the year, while outperformed Bitcoin by 55.84%. Today, ATOM is ranked 21st and priced at $5.12 - 45% away from the all-time high - following the 4.13% rise in the last 24 hours.