Cosmos token breaks through resistance on strong volume, but late selling forms new barrier
The price of Cosmos (ATOM) climbed nearly 4% on Friday, briefly breaking above a key resistance level at $4.60 on the back of heavy institutional buying. The rally followed news of expanded network support on a major exchange, sparking optimism among traders. However, a late-session reversal erased a portion of those gains, creating a fresh resistance zone just below $4.80.
Strong Start Meets Selling Pressure
On the 4-hour chart, ATOM surged from the $4.05–$4.15 support zone (green area) with strong momentum, propelled by above-average trading volume. The breakout lifted the token past its short-term ceiling, touching highs near $4.78 before sellers stepped in. The rejection has now established $4.75–$4.80 as a critical barrier for the next upside push.
Technical analyst Marcus L. commented that the rally showed signs of institutional accumulation before being met with automated sell programs:
“The move was driven by large block orders, which often point to institutional positioning. But the quick reversal suggests profit-taking from short-term traders, as well as algorithmic selling near the psychological $4.80 mark.”
Earlier this month, ATOM broke out of an ascending channel pattern that had supported a rally to highs above $5.60 in July. That run ended with a sharp correction, sending prices back toward the $4.00 level. The current rebound signals renewed demand but also highlights fragile market sentiment.
For short-term traders, maintaining price action above $4.60 is key to keeping bullish momentum alive. A sustained break above resistance would target $5.00–$5.20, while further rejection may shift focus back to the $4.15 support.
With institutional interest evident but selling pressure persistent, ATOM’s next move will likely define its August trading range.
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.
We use cookies to personalize content and ads, provide social media features, and analyze our traffic. In accordance with GDPR/AVG and EU cookie regulations, data is processed only with your consent. We may share information about your use of our website with our social media, advertising, and analytics partners, and you can manage or withdraw your consent at any time. View more
Cookies settings
Accept
Privacy & Cookie policy
Privacy & Cookies policy
Cookies list
Cookie name
Active
Privacy Policy
At BitxJournal.com, we respect your privacy and are committed to protecting your personal data. This Privacy Policy explains how we collect, process, store, and protect personal information in accordance with the General Data Protection Regulation (GDPR) and AVG (EU privacy legislation).
1. Data Controller
BitxJournal.com acts as the data controller for all personal data processed through this website.
2. Personal Data We Collect
We may collect and process the following categories of data:
Personal Data
Name and email address (when you subscribe to newsletters or contact us)
Technical & Usage Data
IP address, browser type, operating system
Device information
Pages visited, referral sources, and interaction data
This data is collected via cookies, log files, and analytics technologies.
3. Legal Basis for Processing
We process personal data only when a lawful basis exists, including:
Consent – when you explicitly agree (e.g., cookies, newsletter sign-up)
Legitimate interest – to operate, secure, and improve our website
Legal obligation – when required by applicable laws
You may withdraw your consent at any time.
4. Purpose of Data Processing
Your data is processed for the following purposes:
Operating and maintaining the website
Improving content, usability, and performance
Sending newsletters or updates (only with consent)
Analyzing traffic and user behavior
Responding to inquiries or support requests
5. Cookies & Consent Management
We use cookies and similar technologies in compliance with EU Cookie Law.
Non-essential cookies are placed only after explicit user consent
Users may accept, reject, or manage cookie preferences at any time
Consent can be withdrawn without affecting prior lawful processing
Detailed cookie information is available in our Cookie Settings panel.
6. Third-Party Data Processing
We may share limited data with trusted third-party service providers, including:
Analytics providers (e.g., Google Analytics)
Advertising partners (for personalized or non-personalized ads)
These third parties act as data processors and process data only under contractual obligations compliant with GDPR/AVG.
7. International Data Transfers
Where data is transferred outside the European Economic Area (EEA), we ensure appropriate safeguards are in place, such as Standard Contractual Clauses (SCCs) or equivalent legal mechanisms.
8. Data Retention
We retain personal data only for as long as necessary to fulfill the purposes outlined in this policy or as required by law.
9. Data Security
We implement appropriate technical and organizational security measures to protect personal data against unauthorized access, alteration, disclosure, or destruction.
10. Your GDPR Rights
Under GDPR/AVG, you have the right to:
Access your personal data
Rectify inaccurate or incomplete data
Request data erasure (“right to be forgotten”)
Restrict or object to processing
Data portability
Withdraw consent at any time
Lodge a complaint with a supervisory authority
11. Changes to This Privacy Policy
We reserve the right to update this Privacy Policy at any time. Any changes will be posted on this page with a revised effective date.
12. Contact Information
For privacy-related inquiries or GDPR requests, contact:
