The Cosmos atom token organized a rapid recovery during a volatile of 23 hours from August 5 at 3:00 p.m. UTC to August 6 at 2:00 p.m. UTC. After falling from $ 4,236 to $ 4,133 in just one hour at the beginning of August 6, Atom recovered at $ 4,235 at 05:00. The rally was supported by an increase in the volume of negotiation to 1,046,473 units, in itself approximately $ 4.38 million, well above the average of 24 hours of 708,926 units.
The buyers defended the key support of $ 4,149, with a bullish impulse that is transported to the session. In the final time, Atom rose from $ 4,178 to $ 4,206, an increase of 0.67%, since the volume increased to 59,513 units, around $ 250,000 in value, at 14:02 UTC. The movement confirmed a rupture above the resistance level of $ 4.20.
Catalyzing the recovery was the news that Coinbase added Cosmosdydx to his road map, pointing out a growing institutional interest in the Cosmos SDK ecosystem. The list, linked to the exchange of decentralized derivatives DYDX, highlighted the renewed confidence in infrastructure projects based on cosmos.
With the improvement of macro feelings and the increase in volume during key investment periods, the ATOM price action suggests an impulse of construction in the broader cosmos ecosystem, even in the midst of a broader cryptocurrency market turbulence.
Technical indicators breakdown
- Atom savagely balance during the 23 -hour period from August 5 from 3:00 p.m. to 6, 14:00. The range reaches $ 0.12, which represents 3% between $ 4.24 maximum and $ 4.13 minimum.
- Token is blocked from $ 4.24 to $ 4.13 during August 6 03: 00-04: 00. Recovery increases to $ 4.24 at 05:00.
- The volume explodes at 1,046,473 units, crushing an average of 24 hours of 708,926. High volume support generates around $ 4.15.
- Finals 60 minutes from August 6 13:08 to 14:07 shows bullish impulse. Uptrend’s sustained price leads from $ 4.18 to $ 4.21, earning 1%.
- The volume peaks reached 59,513 units at 14:02. The rupture confirms above the resistance of $ 4.20 previously established.
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