Atom, the native token of the Cosmos Network, fell 5% in the last 24 hours as Bitcoin recovered the impulse, attracting market attention to large capitalization assets. The movement occurs after the “Altcoin” season last week, where atom and other medium -sized capitalization surrounded BTC in a broad rally.
Atom fell from $ 5.26 to $ 4.98 between July 21 at 11:00 and July 22 at 10:00 UTC, facing strong resistance to $ 5.32 during the negotiation time of 15:00. The volume trade increased to 1.79 million units at 4:00 p.m. as the sellers overwhelmed the purchase orders, which led to a clear technical breakdown.
The Token briefly stabilized about $ 4.97 during the night, where the renewed purchase interest pushed ATOM to a narrow consolidation range of $ 4.95– $ 5.05. A modest rebound saw that prices recovered 0.4% of $ 4.97 to $ 4.99 at the time ending at 10:06 UTC, although merchants remain cautious with respect to the impulse of monitoring.
This week’s price action underlines a change in the return market approach to Bitcoin, which is raising profits after Altcoins dominated the headlines last week.
Key technical indicators
- Price Action: ATOM fell 5% of $ 5.26 to $ 4.98 in 23 hours.
- Resistance zone: Heavy sale at $ 5.25– $ 5.32 Topped Moves Upside.
- Support area: briefly stabilized at $ 4.93– $ 4.97 before a small rebound.
- Volume of peaks: 1.79 million negotiated units during the 16:00 armchairs; 1.55m Units in the support test at $ 4.97.
- Consolidation range: prices that are loom in a narrow band of $ 4.95– $ 5.05.
- Recovery signals: The highest formation of $ 4.93 to $ 4.98 suggests a possible accumulation.
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