Cosmos’ native token, ATOM, surged 2% in the last 24 hours, showcasing strength despite widespread crypto market uncertainty.
Bullish Momentum Pushes ATOM to $4.33
Amid choppy market conditions, ATOM price broke out from $4.28 to reach a session high of $4.33, signaling renewed confidence among buyers. The rally occurred near midnight UTC on August 4, coinciding with a sharp increase in trading volume surpassing 723,000 units.
This decisive breakout positions ATOM for a potential upward continuation if bullish sentiment holds.
Key Technical Levels in Focus
Throughout the session, $4.26 held firm as a support level, validated through repeated tests and intraday rebounds. On the upside, the $4.29–$4.30 zone has emerged as immediate resistance, forming a narrow consolidation range likely to dictate near-term price action.
A confirmed breakout above $4.30 could open the door to higher price targets if volume persists.
Intraday Surge Highlights Buyer Confidence
A notable price movement occurred between 13:08 and 14:07 UTC, during which ATOM gained 1% within an hour, driven by a volume burst exceeding 288,000 units. The coin advanced from $4.26 to $4.29 in this short window, indicating strong conviction among short-term traders.
By the end of the hour, price stabilized between $4.28 and $4.29, suggesting low profit-taking pressure and sustained buyer interest—a bullish sign for further upside.
Technical Breakdown: Signals Support Further Gains
- Breakout Strength: The surge from $4.28 to $4.33 came during a high-volume window, confirming breakout momentum.
- Support Resilience: $4.26 acted as a critical support floor, absorbing multiple sell-offs.
- Resistance Zone: $4.29–$4.30 remains a key ceiling to monitor for breakout continuation.
- Volume Surge: Sharp inflow during the breakout hints at institutional or algorithmic participation.
Cosmos (ATOM) is currently positioned in a tight consolidation zone, but the recent bullish price action backed by high volume indicates that a larger move could be on the horizon. Traders and investors should watch how ATOM behaves around $4.30, as a break above could ignite the next leg higher in this resilient altcoin.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.