ATOM rebounds strongly from key support, eyeing higher levels
Cosmos (ATOM) showed a decisive rebound in the last trading sessions, climbing back above $4.23 after a period of heavy selling. The move came as buyers stepped in around the $4.10 support zone, a level that has acted as a strong demand area over recent weeks.
The chart shows ATOM trading within a broad range between $4.10 (support) and $4.90 (resistance). Following weeks of consolidation, the token recently dipped toward the lower boundary of this range before staging a strong comeback, signaling renewed interest from market participants.
Trading volume also spiked during the rebound, an early indication that buyers are regaining control. Analysts note that sustaining momentum above $4.20 could open the path for another test of the mid-range resistance near $4.40, followed by the upper resistance closer to $4.80–$4.90.
“Cosmos has been under pressure in recent sessions, but the fact that it defended $4.10 again shows that bulls are not stepping away,” one market strategist observed. “A break above $4.40 could shift sentiment more decisively in favor of buyers.”
Key resistance and support levels
- Immediate support: $4.10
- Immediate resistance: $4.40
- Major resistance zone: $4.80–$4.90
On the downside, a failure to hold $4.10 could expose ATOM to deeper declines toward the $3.80 region, where the next strong accumulation zone lies. For now, however, the strong bounce suggests that buyers are willing to defend critical price levels.
As long as ATOM remains above $4.10, traders may continue to see short-term rallies toward resistance levels. Market participants are watching closely to see whether this rebound has enough strength to carry momentum into October.
The next few sessions will be critical, as sustained closes above $4.40 could mark the beginning of a stronger upward move, while renewed weakness below $4.10 would signal further consolidation.
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.