Cosmos’ ATOM token fell victim to a market-wide sell-off on Tuesday, retreating from $4.65 to $4.56 amid a wave of volatility.
While several key areas of support have been tested, the recent rebound from $4.52 to $4.58 at 13:00 UTC, accompanied by heightened volume metrics, signals potential stabilization above the $4.50 psychological support threshold.
Technical Indicators Breakdown
ATOM experienced considerable volatility during the preceding 24-hour period from 14th July 15:00 to 15th July 14:00, declining from $4.65 to $4.56, representing a 2 per cent drop with an aggregate range of $0.22 (5 per cent).
The cryptocurrency confronted substantial selling pressure during nocturnal hours, reaching a critical low of $4.43 at 03:00 before establishing support around the $4.47-$4.50 zone.
Robust volume activity exceeding the 24-hour average of 854,000 during the 03:00 decline and subsequent 12:00-13:00 recovery suggests institutional participation at these levels.
The recent bounce from
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