ATOM Trading Range Narrowed by Institutional Activity and Volatility
ATOM's trading over the past 24 hours showed limited movement, primarily influenced by institutional activity. The price fluctuated 4% between $4.65 and $4.47. Significant selling occurred from $4.65 to $4.45 on August 11, followed by a buying surge with volumes reaching 1.93 million tokens. Resistance was noted at $4.60, while support emerged around $4.47–$4.48.
Coinbase's listing of dYdX (COSMOSDYDX) contributed positively to the Cosmos ecosystem, with its price rising from $0.59 to $0.63. ATOM is currently positioned within an accumulation pattern between $4.47 and $4.60, with potential upside projected at $5.48 by 2025 as institutional adoption increases.
The final trading hour experienced volatility, with ATOM dropping 1% from $4.57 to $4.51 due to sellers overcoming support levels at $4.55 and $4.53. High volumes during this decline indicated profit-taking and repositioning, reflecting a consolidation phase with defined institutional boundaries.
Market Analysts Identify Mixed Technical Outlook
- Institutional trading range of $0.18, a 4% spread between $4.65 and $4.47.
- Institutional selling declined from $4.65 to $4.45 on August 11.
- Trading volume peaked at 1,927,633 units during recovery on August 12.
- Resistance established at $4.60 where profit-taking was observed.
- Support zone identified between $4.47 and $4.48 with successful accumulation.
- Resistance at $4.57 faced intensified selling pressure in the final hour.
- Repositioning occurred through support levels at $4.55 and $4.53.
- Recovery attempt at $4.51 established a consolidation range of $4.52-$4.53.