ATOM consolidates between key demand and resistance zones, with traders watching for signs of a breakout.
Cosmos (ATOM) is trading around $4.66, showing relative stability after recent volatility. The token has successfully held above its green support zone at $4.40–$4.45, a level that has acted as a strong demand area multiple times in recent weeks.
The 4-hour chart highlights a sharp rally from $4.20 earlier this month, followed by a rejection near the $4.90 resistance zone. This red-marked region has repeatedly capped bullish momentum, leaving ATOM oscillating in a well-defined range.
“The current setup reflects a healthy consolidation phase, with buyers defending support levels while sellers remain active near $4.90,” According to BITX analyst. “This type of structure often precedes a decisive breakout in either direction.”
- Immediate support sits at $4.40, where price has consistently bounced.
- Stronger support lies at $4.00, represented by the brown zone, which marks the base of the previous uptrend.
- On the upside, $4.90 remains the key resistance, with a breakout opening the door toward $5.20–$5.40.
Earlier in July, ATOM surged within a rising channel formation, climbing steadily before breaking down near $5.40. Since then, the market has struggled to regain upward momentum but continues to attract buying interest at lower levels.
“As long as $4.40 holds, ATOM maintains a bullish tilt,” According to BITX . “If volume builds on a push above $4.90, we could see the beginning of a stronger recovery trend.”
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.