Persistent selling pressure keeps ATOM capped, highlighting weak momentum despite brief stabilization attempts.
Cosmos (ATOM) continued to trade below the $2.00 psychological level, failing to stage a meaningful recovery after its recent decline. The token attempted a short-term bounce but quickly lost traction, reinforcing the view that bearish pressure remains dominant. With ATOM hovering near recent lows, market participants are closely monitoring whether demand can strengthen or if further downside risk persists.
Recent price behavior shows ATOM struggling to reclaim former support levels that have now turned into resistance. Each recovery attempt toward $2 has been met with selling, suggesting that traders are using rebounds to exit positions rather than initiate new longs. This pattern reflects continued weakness in market structure, with lower highs and lower lows still intact.
On the downside, ATOM has found temporary support near the $1.85–$1.90 zone, where selling momentum has slowed. However, this area has yet to attract strong follow-through buying. On the upside, resistance between $2.10 and $2.40 remains a major barrier, aligning with previous consolidation and heavy supply zones.
Trading volume has remained moderate, indicating lack of aggressive accumulation at current prices. The absence of a volume surge during rebound attempts suggests that confidence among market participants remains subdued, increasing the risk that rallies may fade quickly.
For Cosmos to improve its near-term outlook, price must decisively reclaim and hold above $2.00. Until that occurs, the broader trend remains biased to the downside, with consolidation near lows offering only tentative stability.
At present, ATOM’s failure to recover $2 underscores ongoing bearish sentiment and cautious market positioning.
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.