Buyers push ATOM back above key support amid renewed institutional interest
Cosmos (ATOM/USDT) experienced a sharp 6% intraday swing in the latest trading session, with prices falling early before staging a decisive rebound. The token recovered to $4.58, reclaiming lost ground and holding above a critical support zone near $4.45 (marked in green).
The move follows a period of heightened volatility in the broader crypto market, with trading volume reaching 112,460 ATOM over the last 24 hours. Analysts note that institutional buying interest appears to be resurfacing after last week’s consolidation phase.
Technically, ATOM had previously broken out of a rising channel pattern in mid-July, propelling it toward the $4.80–$4.85 resistance range (red zone). However, sellers regained control at that level, triggering the recent pullback. The green support zone around $4.40–$4.45 has since emerged as a battleground for bulls and bears.
“ATOM’s ability to rebound from its support zone is encouraging,” BITX market strategist explained. “If buyers can push past the $4.80 barrier, momentum could carry the token toward the $5.20–$5.40 range in the short term.”
Should the current support fail, downside targets include the $4.05–$4.10 range (brown zone), which served as a consolidation base in late June. Maintaining levels above $4.45 will be key to preserving the bullish structure.
With ATOM now trading between firm resistance at $4.80 and solid support at $4.45, the next breakout direction will determine whether this rebound marks the start of another leg higher — or just a brief pause before further selling.
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.