Cosmos, OKB, Ravencoin Prices Pump as Crypto Market Sentiment Improves

cryptonews.com:

The three altcoins cosmos (ATOM), OKB and ravencoin (RVN) all pumped in the market today, as sentiment in nearly all major cryptoassets improved markedly.

For ATOM, the native token of the Cosmos chain, the pump began Friday morning around 7 am UTC, when ATOM suddenly surged through the USD 14 level, after a failed attempt at the same one day earlier. The price went on to reach as high as USD 17.2, before falling back below the USD 16 level.

From a technical analysis standpoint, ATOM now looks like it could rally further, with no significant resistance levels ahead of it. However, the Relative Strength Index (RSI) has already moved into ‘overbought’ territory on the daily timeframe, indicating that the rally may become overextended.

ATOM price since July:

Cosmos is a blockchain network that aims to offer interoperability between different blockchains. The network relies on the proof-of-stake (PoS) consensus mechanism – the same technology that Ethereum (ETH) is moving to after its highly anticipated Merge later this month.

At the time of writing (11:25 UTC), ATOM was up 20.2%, trading at USD 15.797. Over the past 7 days, the token is up 24%, while it has gained 38% for the past 30 days.

The second coin to pump over the past 24 hours was OKB, a token issued by the crypto exchange OKX (formerly OKEx). The token started pumping on Thursday around 1 pm UTC, with strong gains following over the next three hours. After reaching as high as USD 17.5, OKB fell back to the USD 16.5 level.

In terms of the technical outlook, it’s worth noting that the USD 17 level did not hold for OKB yesterday, and that this now serves as an area of resistance to the upside. Still, if the price can get enough momentum to move through that level, USD 18