ATOM Rebounds 7% From $4.47 Support on Strong Volume Amid Market Volatility
Cosmos (ATOM) staged a solid recovery on July 24, climbing from an intraday low of $4.47 to close at $4.77, supported by robust trading volume amid ongoing geopolitical uncertainties.
The token experienced a 7% intraday price swing, reaching a high of $4.82 before pulling back slightly. Volume surged above 2.28 million units around the $4.47 support level, signaling strong buyer interest and establishing this as a key technical floor.
In the final trading hour, ATOM extended its gains, moving from $4.69 and briefly surpassing the $4.80 resistance on volume exceeding 77,000 units. While profit-taking caused a minor retreat to $4.74, the token still posted a 1% gain in the last hour, reflecting a balanced battle between bulls and bears near resistance.
ATOM’s resilience stands out as the broader altcoin market faces increased volatility after a recent rally, with investors adjusting risk amid Bitcoin and Ethereum price swings. The token’s ability to maintain support and attract volume suggests it may be better positioned than many peers during this consolidation phase.
Technical Summary:
- Intraday price range of $0.33, a 7% move between $4.47 and $4.82
- Volume over 2.28 million units traded near the $4.47 support level
- Resistance tested around $4.80 with volume exceeding 77,000 units
- Strong buyer demand absorbed early sell pressure, fueling recovery
- Profit-taking near resistance reflects cautious optimism without breaking momentum
