ATOM Establishes Support at $4.50 Amid Increased Ethereum Whale Activity
The Cosmos ecosystem token (ATOM) has formed a support level around $4.50 amid trader activity influenced by traditional finance and digital assets.
Key developments include:
- Ethereum whale transactions surged 164.14% to $7.84 billion in 24 hours, indicating potential altcoin season benefits for ATOM.
- ATOM-USD exhibited a volatile trading range of 3.5%, reaching a peak of $4.619 before correcting to $4.498.
- Strong volume support at $4.502 emerged during the 12:00 hour with 1.63M volume, helping prices rise above $4.560.
- A higher low at $4.522 suggests bullish momentum, though resistance at $4.600 is crucial for breakouts.
- In the last hour, ATOM-USD showed volatility, starting at $4.556, peaking at $4.589, and gaining 0.7% in 22 minutes.
- Volume spiked to 77,531 units at 13:17 during the rally.
- A price drop of 2.1% occurred at 13:31, stabilizing around $4.564 after a brief recovery.