Automata Network $ATA is an exciting project in the blockchain space, designed to provide privacy middleware for decentralized applications (dApps). Ranked #537 in terms of market capitalization, ATA has drawn increasing attention, particularly due to its recent price performance. In this analysis, we'll break down the key metrics and discuss why this token could be an attractive asset for crypto traders.
Key Metrics:
Current Price: $0.104424-Hour Change: +16.09%Market Cap: $56.16M (+16.09%)Volume (24h): $14.63M (+238.52%)Circulating Supply: 537.90M ATATotal Supply: 1B ATAAll-Time High (ATH): $2.55 (June 7, 2021)All-Time Low: $0.05873 (August 5, 2024)
Recent Performance & Surge in Volume
Over the past 24 hours, ATA has experienced a price surge of +16.09%, pushing the token to a value of $0.1044. What’s even more notable is the trading volume, which has skyrocketed by +238.52%, indicating growing interest among traders. The volume-to-market cap ratio is currently 26.05%, a strong signal of increased liquidity and momentum.
ATA’s recent all-time low occurred just three months ago, on August 5, 2024, at $0.05873, but it has since bounced back by 77.77%, showcasing resilience and a potential trend reversal.
Why Traders Should Watch ATA
Strong Recovery Potential
Although ATA is still down by 95.9% from its all-time high of $2.55 in June 2021, its recent price movement and volume spike suggest a possible bullish trend. The token has already recovered significantly from its August low, and with its increasing trading volume, we may see further upward momentum.Increased Market Activity
The substantial increase in trading volume indicates growing interest in ATA. A high volume-to-market cap ratio (26.05%) often points to heightened market activity and the possibility of further price volatility, which could provide opportunities for short-term traders.Solid Market Cap & Liquidity
With a market cap of $56.16M, ATA is still in the mid-tier range, making it an appealing token for traders looking for undervalued assets with the potential for growth. Additionally, the significant trading volume adds to its liquidity, ensuring smoother trades and less slippage, making it an attractive choice for both day traders and swing traders.Potential for Growth in DeFi & Privacy
Automata Network provides privacy services for dApps, which could become increasingly valuable as the decentralized finance (DeFi) sector continues to grow. As more projects emphasize privacy and data security, ATA’s relevance in the blockchain ecosystem could rise, potentially boosting its demand and value.
Price Outlook
Short-term Outlook: Given the sharp rise in trading volume and price, $ATA could continue its upward trajectory in the short term, particularly if it breaks above resistance levels near $0.105. However, traders should be cautious of possible pullbacks, especially after such significant gains in a single day.Long-term Outlook: If ATA can maintain its momentum and capitalize on its privacy middleware services, it may see more sustained growth. Although the token is still significantly below its ATH, its resilience since hitting a 3-month low is encouraging for long-term holders.
Key Takeaways for Traders:
Volatility Equals Opportunity: ATA's recent price fluctuations and volume surge make it an ideal token for traders seeking volatility. Keep an eye on its price movements and look for potential breakout or consolidation patterns.Fundamental Utility: With a focus on privacy in dApps, ATA has a solid use case, which could increase its adoption and demand in the future.Risk Considerations: Despite its recent gains, ATA is still down considerably from its ATH. While this could signal a discounted buy, it also highlights the risks inherent in trading this token. Traders should implement risk management strategies, such as stop-loss orders, to protect their positions.
Conclusion:
$ATA is showing promising signs of a potential recovery, with an impressive short-term price surge, increased market activity, and a solid position within the DeFi space. For traders looking for an asset with strong volatility, liquidity, and potential for significant upside, Automata Network could be an excellent addition to their portfolio.

#ATA #UptoberBTC70K? #SCRSpotTradingOnBinance #APESurge #BinanceLabsInvestsLombard

The crypto market continues its consolidation today, with the bulls still holding most of the ground they have covered over the last few weeks.
The total crypto market cap has declined slightly by around 0.3% and currently sits at around $1.97 trillion, as well as a market heatmap that looks like this:

The crypto market's liquidations have been unexpectedly harsh over the last day, according to data from Coinglass.

Traders all over the market, lost a collective $266 million, with the bulls likely expecting Bitcoin to continue further upwards above $52,000, and getting hit with $176 million in liquidations instead.
The bears, on the other hand, lost around $90 million to the market
This leads us to conclude that the bulls might have used up most of their momentum, and are spending their remaining strength on maintaining control.
If the bears put in sufficient pressure, we might see a heavy downturn.
Bitcoin Continues Consolidation
So far, Bitcoin has made no major moves to the up or bottom side, as shown by the chart below:

This consolidation may have a big part to play in the grand scheme though.
Bitcoin’s break above $50,000 and its subsequent retest of $52,000 pushed the RSI on the daily chart into overbought conditions.
This metric is starting to stabilize and has declined from around 82, to where it currently sits around 67.
This might just be what the bulls need to launch another rally toward $55,000.
Ethereum: Is This It?
Yesterday, Ethereum broke above $3,000 and ended up around $3,033.

The cryptocurrency now appears to be sliding down from here and currently trades at around $2,959.
It might not be over yet though.
The bulls still have a chance to stage a comeback, as long as the cryptocurrency’s price doesn’t slide too far below the $2,865 - $2,722 zone.

JasmyCoin (JASMY): Where To From Here?
JASMY is currently the best-performing crypto asset on Binance, as shown by its 35% gain in a single day.
According to the charts, the cryptocurrency broke above the $00083 resistance sometime yesterday and travelled straight up to test the $0.123 resistance.

Keep in mind that the last time JASMY broke above this price level was in May 2022.
If we see a break and decisive close above this price level from JASMY, we can expect the cryptocurrency to travel further upwards to around $0.017 or even higher.

Rebound On Automata (ATA)
According to the charts, Automata rebounded off the ascending trendline as shown below, sometime last week.

Since the cryptocurrency’s rebound, ATA has travelled to the upside by around 85% from $0.08 to $0.145.
At the time of writing, the cryptocurrency has reversed from this $0.145 high and is now testing $0.133 as support.
If this support level holds, ATA is set to rebound from here, continue further upwards and test the next major resistance at around $0.168 or even higher.

Chiliz (CHZ): What Next After $0.145?
According to the chart below, Chiliz is showing signs of a possible retest and break above $0.145.

Above, we can see what appears to be an incoming cup and handle formation, where CHZ reattempts to take the high from April 2023.
Upon break out from the “handle” of this formation, we are bound to see the cryptocurrency continue further upwards to around $0.18, with no telling how much further up CHZ can go.
#BTC #ETH #CHZ #ATA #JASMY
$CHZ $ATA $JASMY