Cosmos (ATOM) Eyes $1.705 Resistance as Institutional Momentum Builds

Cosmos (ATOM) has been on an upward trend in recent weeks, gaining nearly 7% to reach $1.65 after a series of institutional partnerships and infrastructure launches drew attention to its role in digital asset solutions for banks and financial institutions.

This momentum is driven by the protocol's expanding network alliances and evolving tokenization technology, with Wells Fargo reportedly planning to use Cosmos ledger technology for tokenized deposits by fall 2026. The initiative aims to provide custody, compliance, and integration solutions while showcasing the Cosmos Tokenization Suite at Finovate Fall on September 10.

The weekly outlook suggests that ATOM could clear its $1.705 resistance as technicals remain strong, with a 65% chance of an increase and a 35% probability of a decrease over the coming week. The price is expected to trade between $1.3931244 and $1.8968755.

While the trend remains bearish in the longer term, with price below the 200-day average despite improved directional indicators, the current technical signals reinforce broad buyer control. However, the HMA suggests some near-term hesitation, and volatility for the week remains elevated at 30.61%, suggesting scope for another wide move.