ATOM Price Rises 8% to $4.83 with Strong Institutional Support
ATOM experienced an 8% increase from $4.49 to $4.84 between August 12 and August 13, driven by over 2 million units traded, indicating institutional interest. The price peaked at $4.85 before consolidating at $4.83, affirming a breakout above the $4.78 resistance. Strong support has formed at $4.65, suggesting potential movement towards the $4.90–$5.00 range.
In the last hour of trading, ATOM rose from $4.82 to $4.85, then dipped slightly to $4.83. A volume spike of 24,467 units at 10:20 affirmed the $4.85 level, followed by profit-taking. Additional spikes of 47,638 units and 59,892 units during recovery attempts highlighted ongoing institutional participation.
The final minutes displayed minimal activity, hinting at a pause in momentum. However, sustained buying interest, rising support, and successful resistance breaches suggest ATOM is positioned for further upside, targeting the $4.90–$5.00 range.
Notably, bitcoin dominance fell below 60%, reflecting relative altcoin strength. If bitcoin surpasses $124,000 and sets a new high, capital may shift back to BTC.
Key Technical Indicators
- ATOM recorded an aggregate range of $0.38 (8.52%) during the trading period.
- Support established at $4.65 confirmed by significant volume during recovery.
- Resistance near $4.78 was breached after initial challenges.
- Momentum accelerated in the final hours with volume exceeding the 24-hour average.
- Technical breakout supported by increased volume and rising support levels.
- $4.85 resistance validated with strong volume prior to profit-taking.
- Volume surges at key points confirm institutional involvement during consolidation.