Cosmos (ATOM) Holds Firm as Traders Eye Breakout from Narrow Range
Cosmos (ATOM) remained stable through Wednesday’s session, showing resilience in a tightening range while broader crypto markets lacked clear direction.
Trading between $4.383 and $4.491—a modest 2.47% band—ATOM offered little room for scalpers but revealed growing consolidation near critical support levels. Key buy-side activity was observed around $4.444, where volume spiked to 41.8 million ATOM, marking the day’s strongest area of demand.
A brief dip to $4.383 late in the session triggered a quick rebound, with prices lifting back to $4.460 into the daily close, recouping 0.25% in the final hour. Resistance held firm at $4.479, though a short-lived push above $4.458 during Asia hours indicated bulls are testing the upper boundary.
With the hourly price range tightening to just 1.35%, analysts suggest ATOM is entering a coiled setup. The steady formation of higher lows, coupled with heavy accumulation near volume-weighted support, may set the stage for a breakout if market sentiment improves.
For now, ATOM remains in wait-and-watch mode—but rising on-chain volume at key levels hints that a larger move could be brewing.
