ATOM Holds Range but Faces Rejection Near Upper Levels
Cosmos (ATOM/USDT) is currently trading around $4.48, showing a period of consolidation after recent volatility. The token has been moving within a defined range, with traders watching closely to see whether it can overcome resistance near $4.80–$5.00 or risk further pullback.
The 4-hour chart highlights a strong rally in July, where ATOM surged from below $4.00 toward $5.50, supported by an ascending channel. However, after failing to sustain momentum above $5.00, the price entered into a sideways phase. Since then, ATOM has tested both resistance and support zones multiple times without a clear breakout.
BITX Market experts note that the current structure shows indecision. “Cosmos is trading in a well-defined range, with sellers defending the $4.80–$5.00 zone and buyers stepping in around $4.20–$4.30. A breakout on either side could determine the next major move,” BITX analyst explained.
The green support block near $4.30–$4.40 has held firm during recent dips, highlighting continued demand from short-term buyers. Meanwhile, the red resistance area above $4.80 remains a major hurdle for bullish momentum. Volume data suggests that trading activity has cooled compared to earlier in the summer, indicating that the market may be waiting for a catalyst.
BITX analysts warn of potential downside if support fails. “If ATOM closes below $4.20, the next target could be closer to the $4.00 or even $3.80 level. However, holding current levels keeps the possibility of a retest of $5 alive,” .
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.