Despite escalating conflict in the Middle East Cosmos’ ATOM token is showing resilience to the volatility.
It currently trades above the $4.00 level of resistance after a break out on significant volume spikes.
Technical Analysis
- ATOM-USD climbed from $3.981 to $4.043, with a notable range of $0.122 (3.07%).
- Price action formed a clear uptrend with higher lows, breaking through the $4.00 resistance level.
- Significant volume spikes occurred, particularly during the 07:00 hour when volume reached 772,906 units, well above the 24-hour average.
- Support has established at $3.982, while the $4.084 level represents immediate resistance based on the recent high.
- Consistent higher lows coupled with above-average trading volumes suggests continued bullish sentiment despite minor retracements.
- In the last hour, ATOM-USD experienced significant volatility, reaching a peak of $4.070 at 13:22 before entering a sharp correction that bottomed at $3.984 around 13:51, representing a 2.11% decline.
- Price has since established a recovery pattern, forming higher lows and stabilizing around $4.045.
- Volume spikes were particularly notable during the downward movement (24,664 units at 13:48) and subsequent recovery phase (29,894 units at 13:52).
- Strong market participation suggests potential support formation at the $4.040 level.