Cosmos Hub’s atom token has had a sharp drop in the last 24 hours, from $ 5.08 to $ 4.82 while institutional participants intensified the liquidation activity. The decrease of 5.1% was accompanied by an increase in the volume of negotiation, with a peak of 7.73 million tokens changing hands during a particularly heavy sale between 9:00 am and 2:00 pm UTC on July 23.
The net movement reinforced the resistance around the range of $ 5.07 to $ 5.13, while the accumulation interests surfaced in the area of $ 4.78 to $ 4.88, providing provisional support. However, persistent breakdowns below the threshold of $ 5.00 highlighted the continuous distribution pressure that could question recovery attempts without a sustained dynamic of purchase.
During the last hour of negotiation on July 23, Atom experienced pronounced volatility. The price went from $ 4.90 to a session hollow of $ 4.78 before rebounding at $ 4.81. This recovery, although notable, occurred as a decrease in volume – pointing out a potentially exhaustion in short -term buyers.
Akash Network (AKT), another COSMOS -based project, continues to show its strength in long -term forecasts, with a potential objective of $ 6.19 in 2025, contrasting Atom’s current technical fragility.
Strengths of technical analysis
- Movement 24 hours a day: Atom dropped from $ 5.08 to $ 4.08 with a total range of $ 0.35 (6.8%).
- Maximum liquidation: July 23, 09: 00-14: 00 UTC SAW Volumes Plays at 7.73 m, well above the average of 1.11 m.
- Critical support: $ 4.78 – $ 4.88 Zone showing accumulation over a high volume.
- Intermediate resistance: $ 4.98 – The level of $ 5.00 is faced with several refusals.
- Institutional pressure: A supported breakdown less than $ 5.00 Signals distribution activity.
- Intra -day volatility: July 23, 13: 10-14: 09 UTC experienced a net drop from $ 4.90 to $ 4.78, followed by a rebound at $ 4.81.
- Rebound weakness: Recovery at $ 4.81 has dropped as a volume, suggesting a possible exhaustion.
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