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In the dynamic world of cryptocurrencies, ATOM, the native token of Cosmos, has been labeled a security by the U.S. Securities and Exchange Commission (SEC), which has led to a bleak outlook for the token’s prospects.

ATOM/USD approached weekly highs and was nearing a retest of the $9.0 per token level. The token witnessed a gain of nearly 3.0% during the session, as a rally in the crypto markets was fueled by the optimism surrounding the potential approval of BlackRock’s application for a bitcoin ETF for spot trading.

Eth is considered a Security according to the SEC so is matic, Cardano, SOL, Atom, Tezos and many more. Its starting to look like only Crypto that has no development team or a pre-mine will be left standing unless they can disprove the SEC and the HOWIE test. pic.twitter.com/5fGFAH2SAL

— Monicle Mustache (@MonicleMustache) June 6, 2023

Impressively, $ATOM is trading 20% up compared to the near one-year low it reached last week in the $7.30 zone.

Concerns Over $ATOM’s Future Amid SEC Lawsuit and Regulatory Risks

Despite the recent surge in price, many investors still fear the possibility of Cosmos going to zero. This apprehension arises from the actions taken by the SEC in its crackdown on Coinbase and Binance, where $ATOM was labeled as a security, contributing to the uncertainty surrounding the token’s future.

If the U.S. courts support the SEC in its lawsuit against the two crypto exchanges, $ATOM could face much stricter regulations in the U.S. Such regulations could severely hinder the growth of the Cosmos ecosystem.

ATOM/USD Daily Chart Analysis – Cosmos Price Might Spike in the North

The Cosmos price shows strong upward momentum, reaching a new daily high and approaching the resistance level of $10.00. At the time of writing, ATOM is trading at $8.87 and moving in a bullish direction, nearing the 50-day and 200-day moving averages. If the buying pressure from the bulls increases, it could lead to further upward movement.

Based on the daily chart, the Cosmos price shows signs of positive momentum, indicating a potential bullish trend. Traders can anticipate further upward movement, possibly testing the resistance level at $10.00. The Relative Strength Index (14) has also crossed the 50-level mark, indicating potential resistance levels at $10.80, $11.80, and $12.80.

If the Cosmos price maintains its upward channel pattern, traders may expect more bullish trends in the upcoming trading sessions. However, if the price breaks below the channel’s lower boundary, a bearish scenario could unfold. In such a case, the coin might retrace toward support levels at $6.70, $5.70, or $4.70.

ATOM is still 16% lower than its pre-SEC lawsuit level, which was around $10.75. Amidst Atom woes, a new sustainable cryptocurrency has emerged as a potential explosive asset, creating buzz in the crypto industry. The new coin $Ecoterra is emerging as a promising alternative for investors seeking substantial returns on their investments.

Ecoterra Crypto Emerges as Potential Explosive Asset

Ecoterra is a cryptocurrency project with a strong focus on environmental sustainability and protecting the earth from the harmful effects of pollution. One of its key initiatives is the Recycle-to-Earn (R2E) program, which aims to tackle global waste by incentivizing users to participate in recycling activities through a reward-based system.

In addition to waste management, Ecoterra is also dedicated to reducing carbon emissions. The project has developed a carbon offset system that allows users to earn $ECOTERRA tokens by offsetting their carbon footprint. This innovative approach encourages individuals to take proactive steps to minimize their environmental impact.

To further support its mission, Ecoterra plans to launch an app enabling users to monitor their recycling activities and receive rewards accordingly. This user-friendly platform will make it easier for people to actively engage in recycling and contribute to protecting the environment.

ECOTERRA Raises $5.25 million in Presale

The presale phase of ECOTERRA tokens is currently in its final stage and is set to conclude on June 29, 2023. Interested investors can buy these tokens using bank cards, ETH, or USDT. Users can also buy the presale through crypto, using either ETH or USDT, by connecting their crypto wallet to the site’s presale page.

We have successfully reached the impressive milestone of $5.2 MILLION! 🎉🚀

Thank you to everyone who has supported us, and let’s continue to make a positive impact together 💪💚https://t.co/1fYkPOsPYG #MilestoneAchieved #Presale #CryptoPresale #Presale #CryptocurrencyNews pic.twitter.com/84ThCoH8Sm

— ecoterra (@ecoterraio) June 20, 2023

With only 7 days left until the conclusion of the presale, the $ECOTERRA project has already surpassed the $5.2 million benchmark and is first approaching its $5.7 million goal. After the presale is over, the tokens will be listed on prominent exchanges. Therefore, investors who wish to be part of the project should act quickly to avoid missing out on this opportunity.

Currently, each $ECOTERRA token is valued at $0.00925, with an expected increase to $0.01 upon listing. The environmental significance of Ecoterra’s initiatives makes them a critical project for a sustainable and healthy future.

Furthermore, Ecoterra has ensured the security and credibility of its project by undergoing a thorough audit conducted by CertiK. CertiK is a reputable blockchain security platform specializing in auditing and certifying crypto projects, providing investors with confidence in the project’s legitimacy and integrity.

$ECOTERRA: A Promising Blockchain Solution for a Sustainable Future

With a total supply of $2 billion tokens, $ECOTERRA distribution is allocated as follows: 50% for presale investors, 20% for ecosystem liquidity, 10% for listings and marketing, 5% for corporate adoption, and 5% for the team.

Renowned experts firmly believe in the potential of $ECOTERRA to significantly address environmental challenges. The project leverages blockchain technology to incentivize recycling and carbon offsetting, allowing users to monitor their ecological footprint. By utilizing the R2E app, individuals can contribute to the environment and earn $ECOTERRA tokens as rewards for their recycling efforts.

🌱♻️ Unlock a world of rewards with ecoterra! #RecycleToEarn tokens that grant access to exclusive events, and green education platform 🌍💚

Join our #Presale today ⬇️https://t.co/1fYkPOsPYG #Crypto #Web3 #CryptoPresale #EcoCrypto #DeFi #Decentralised #Cryptocurrency pic.twitter.com/sp6KDZ5PUL

— ecoterra (@ecoterraio) June 20, 2023

Furthermore, there are plans for $ECOTERRA holders to earn passive income by staking their tokens. This incentivizes long-term engagement and participation within the $ECOTERRA community.

Analysts are optimistic about the potential for significant value appreciation in $ECOTERRA, particularly with the upcoming launch of cryptocurrency exchanges. They anticipate increased adoption and usage of $ECOTERRA, which can further drive its value. Unlike many other cryptocurrencies that have faced criticism for their high carbon emissions and negative environmental impact, $ECOTERRA aims to address these concerns.

The project aims to mitigate the environmental drawbacks typically associated with cryptocurrency mining by encouraging sustainable practices and utilizing blockchain technology.

The ongoing presale of ECOTERRA’s native token, $ECOTERRA, has attracted significant popularity among supporters of the green movement, who are enthusiastic about the platform’s potential for success and growth.