ATOM Token Surges Past $4 Resistance Amid Increased Trading Volume
Cosmos' ATOM token is displaying resilience amid Middle East conflict, trading above $4.00 after breaking out on significant volume.
Technical Analysis
- ATOM-USD rose from $3.981 to $4.043, a range of $0.122 (3.07%).
- Price action shows an uptrend with higher lows, surpassing the $4.00 resistance.
- Volume spikes occurred, especially at 07:00 with 772,906 units traded, exceeding the 24-hour average.
- Support established at $3.982; immediate resistance at $4.084 based on recent high.
- Consistent higher lows and above-average volumes indicate ongoing bullish sentiment despite minor retracements.
- In the last hour, ATOM-USD peaked at $4.070 at 13:22 before declining to $3.984 around 13:51, a drop of 2.11%.
- Price is recovering, stabilizing around $4.045 while forming higher lows.
- Notable volume spikes during decline (24,664 units at 13:48) and recovery (29,894 units at 13:52).
- Strong market activity suggests potential support at the $4.040 level.