Ator Protocol’s native token, ATOR, has seen a remarkable price surge this past week. The cryptocurrency gained over 45% during this period, igniting excitement amongst investors about a potential new bull run underway.
For those unfamiliar, Ator Protocol focuses on enhancing privacy and anonymity when accessing the internet. It incentivizes the operation of nodes on The Onion Router (Tor) network, which enables anonymous communication by relaying traffic through multiple encrypted hops.
Users can earn ATOR tokens as rewards for running these relays using Ator’s purpose-built hardware products. This crypto-economic model aims to expand Tor’s capacity to handle growing demand for anonymous web access.
Technical Analysis Flags Caution
According to noted crypto trader Bitcoin Buddha, ATOR’s recent break past the significant $1.00 level indicates positive trajectory. However, he cautions that the wider market looks primed for a correction which could impact ATOR.
As such, he recommends a cautious stance despite ATOR’s strength. Bitcoin Buddha suggests holding any positions while watching for a potential retest of support around $0.90. If ATOR holds that level through a broader market pullback, it would confirm bullish conviction and likely pave the way for continued upside.
Community Eyes $2 Target
Meanwhile, analyst jack seems unfazed by potential market volatility. He points to resilient price action that has held up well compared to panicking sellers in other cryptos. With ATOR closing back above $1.20, he sees a clear path for the cryptocurrency to double in value toward the $2.00 level.
Evidently, between the technical breakout and highly engaged community, momentum seems strongly in ATOR’s favor. Savvy crypto investors may view any short-term weakness as an area to accumulate ahead of the next leg higher. One thing is clear – interest in the privacy-centric Web3 project is certainly heating up.
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