The token atom of Cosmos had suffered a strong decrease in the last 24 hours, falling from $ 5.08 to $ 4.82 as institutional participants intensified the liquidation activity. The 5.1% drop was accompanied by an increase in the volume of negotiation, with a peak of 7.73 million tokens changing hands during a sale of particularly heavy sales between 09:00 and 14:00 UTC of July 23.
The acute movement reinforced the resistance around the range of $ 5.07- $ 5.13, while the accumulation interest arose in the $ 4.78- $ 4.88 zone, offering tentative support. However, persistent breakdown below the threshold of $ 5.00 highlighted the continuous distribution pressure that recovery attempts could be challenged without a sustained purchase impulse.
During the last time of negotiation on July 23, Atom experienced pronounced volatility. The price fell from $ 4.90 to a minimum session of $ 4.78 before recovering at $ 4.81. This recovery, although notable, became the volume in decline, which potentially indicates the exhaustion among short -term buyers.
Akash Network (AKT), another Cosmos -based project, continues to show strength in long -term forecasts, with a potential objective of $ 6.19 in 2025, contrasting the current technical fragility of ATOM.
TECHNICAL ANALYSIS
- 24 -hour movement: Atom fell 5.1% of $ 5.08 to $ 4.82 with a total range of $ 0.35 (6.8%).
- Maximum settlement: July 23, 09: 00-14: 00 UTC saw volumes raised to 7.73 m, well above the average of 1.11m.
- Critical Support: $ 4.78- $ 4.88 Zone that shows the accumulation in high volume.
- Intermediate resistance: $ 4.98- $ 5.00 Level faced multiple rejections.
- Institutional pressure: Disagos sustained below the $ 5.00 signal distribution activity.
- Intradia volatility: July 23, 13: 10-14: 09 UTC saw a strong drop from $ 4.90 to $ 4.78, followed by a rebound at $ 4.81.
- Rebound weakness: The recovery at $ 4.81 occurred in the decrease in volume, which suggests possible exhaustion.
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