Investor Sentiment Focus
ATOM Bounces From $4.50 Support as Ethereum Whale Activity Sparks Altcoin Optimism
Cosmos’ ATOM token is holding firm above the $4.50 mark, supported by renewed optimism in the altcoin market sparked by a spike in Ethereum whale activity. On-chain data shows ETH whale transactions surged over 160% in the past 24 hours, a possible signal that capital rotation into altcoins is accelerating.
ATOM climbed back from an intraday low of $4.498 to $4.589 before settling near $4.56, with volume notably higher during the recovery. Analysts say this bounce reinforces $4.50 as a key support zone and points to growing investor interest in altcoin plays with strong ecosystems like Cosmos.
Momentum remains fragile, however, with resistance just under $4.60 and traders watching closely for confirmation of a breakout trend.
