ATOM Finds Support at $4.20 as Bitcoin Attempts Rally
The altcoin market was subdued as bitcoin and ether aimed for new highs. Significant liquidity shifted towards shorting bitcoin, impacting altcoins like ATOM, which found support at $4.20.
Key observations:
- ATOM-USD traded between $4.09 and $4.26, with a 4% range in 24 hours from July 2, 16:00 to July 3, 15:00.
- Support established at $4.16-$4.17, with high volume buying at $4.20 on July 3rd.
- ATOM peaked at $4.26 but could not maintain above the $4.25 resistance level.
- In the last hour before July 3, 15:23, ATOM-USD fell from $4.24 to $4.21, a decrease of 0.73%.
- A sharp selloff occurred from 15:03 to 15:07, dropping to $4.19 before recovering.
- Price stabilized around $4.21, indicating potential short-term equilibrium.
The CD20 Index showed volatility:
- It peaked at $1,811.11 before retracing to $1,793.55, with a total range of $37.27 (2%) within the same 24-hour period.
- Support around $1,780 was established, followed by a rally during the morning session of July 3, peaking before profit-taking in the final hour.