Cosmos (ATOM) faced intense selling pressure over the last 24 hours, plunging by 3.7% amid a sharp volume spike and technical breakdown. The price dropped from $4.60 to $4.43, led by aggressive liquidation flows during the 10:00–11:00 GMT trading window.
Trading Volume Triples as Support Breaks Down
Trading volume surged to nearly three times the daily average, a clear indication of large-sell order execution—likely driven by institutional players. The heavy selloff shattered critical support at $4.39, a level that had previously offered a base for rebounds.
New resistance levels are now forming at $4.51 and $4.62–$4.65, suggesting the bears are firmly in control. Unless ATOM reclaims these levels with volume confirmation, a continuation of the downtrend remains likely.
Downtrend Targets Shift Toward $4.30–$4.35
Technical momentum indicators show increasing downside risk as the token trades below moving average zones. With the $4.39 support now broken, analysts point to a potential slide toward the $4.30–$4.35 target zone if sellers maintain pressure.
Short-term trading charts reveal $4.44 as a near-term resistance, where upside attempts have consistently failed. Conversely, $4.41 has emerged as a temporary support, but lacks sufficient volume to confirm a sustainable bounce.
Ecosystem Growth Fails to Lift Price Action
Despite recent ecosystem milestones—including the successful launch of 100 live chains and XRP integration into the Cosmos ecosystem—market sentiment remains bearish.
Fundamentals are being overshadowed by weakening momentum, high volatility, and macro-driven risk-off behavior. Traders appear to be discounting the bullish ecosystem updates in favor of short-term price trends.
Bearish Bias Prevails Until Key Levels Flip
Unless ATOM recovers above $4.51 with strong volume, the price is expected to remain under downward pressure. The next major test lies at the $4.30–$4.35 zone, which must hold to avoid a deeper retracement.
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.