Atom, the native token of the Cosmos network, fell 5% in the last 24 hours while Bitcoin has resumed momentum, withdrawing the attention of the large capitalization assets. This decision comes after the “Altcoin season” last week, where Atom and other capitalization mid tokens surpassed the BTC in a large rally.
Atom went from $ 5.26 to $ 4.98 between July 21 at 11:00 a.m. and July 22 at 10:00 am UTC, faced with high resistance at $ 5.32 during the negotiation time of 3:00 p.m. Trading volumes increased to 1.79 million units at 4:00 p.m. while sellers overwhelmed purchase orders, which led to a clear technical break.
The token was briefly stabilized nearly $ 4.97 during the night, where a renewal of purchasing interests pushed the atom in a close consolidation range of $ 4.95 at $ 5.05. A modest rebound saw the prices going from 0.4% from $ 4.97 to $ 4.99 per hour ending 10:06 UTC, although the traders remain cautious about the tracking momentum.
This week’s prices action highlights a change in market development in Bitcoin, which claws return earnings after Altcoins dominated the headlines last week.
Key technical indicators
- Price action: Atom increased from $ 5.26 to $ 4.98 in 23 hours.
- Resistance zone: heavy sale at $ 5.25 at $ 5.32 coupled upwards.
- Support zone: Stebilized at $ 4.93 at $ 4.93 before $ 4.97 before the small rebound.
- Volume peaks: 1.79 m units exchanged for 4:00 p.m. were sold; 1.55 m units on the support test at $ 4.97.
- Consolidation range: Prices oscillate in a tight band of $ 4.95 at $ 5.05.
- Recovery signs: lower training from $ 4.93 to $ 4.98 suggests possible accumulation.
Warning: Parties of this article were generated with the help of AI tools and examined by our editorial team to guarantee accuracy and membership of our standards. For more information, see the complete Coindesk AI policy.
