Cosmos’ ATOM Gains 3% as Focus Shifts Back to Interoperability
Cosmos’ ATOM token rose 3% in the last 24 hours, supported by improving sentiment across the altcoin market and renewed focus on the network’s core mission. The price move comes amid growing anticipation of a broader altcoin season.
Thursday’s price volatility followed Cosmos’ decision to discontinue its EVM-compatible platform efforts. The shift, based on findings that the initiative conflicted with the protocol’s interoperability-first roadmap, has been viewed positively by the market. Investors appear to favor the streamlined focus on Cosmos’ role as a dedicated layer-1 network.
Key Technical Insights:
- Trading Range: ATOM moved between $4.62 and $4.88, reflecting 6% intraday volatility
- Volume Activity: Significant trading spikes, with over 1.29M and 1.23M tokens exchanged during peak hours
- Support Levels: Strong buying interest emerged in the $4.64–$4.67 range
- Resistance Area: Sellers remain active around $4.87–$4.88
- Price Structure: Price is consolidating between $4.64 and $4.87, with a bullish bias as it holds above $4.75
- Recovery Move: A sharp dip to $4.74 was quickly bought up, pushing price above $4.79
- Volume Confirmation: 66,331 tokens traded during the rebound confirm active support
A decisive breakout above $4.783 could trigger further gains, with $5.00 as the next immediate target.
