ATOM Shows Bullish Strength as Trading Volume Triples
Cosmos’ native token, ATOM, is flashing strong bullish signals, fueled by a surge in trading activity and firm support from buyers at key levels.
Over the 24-hour period from 15:00 on July 6 to 14:00 on July 7, ATOM climbed from $4.05 to $4.10, posting a 1.23% gain as traders showed confidence even amid broader market caution. The rally comes as bitcoin gradually approaches the $110,000 resistance level, a barrier it failed to breach last week, triggering a temporary downturn across the altcoin market.
With trading volume tripling in the past 24 hours, momentum appears to be firmly on ATOM’s side, signaling the potential for further upside.
Technical Analysis Highlights:
- ATOM gained 1.23% over the observed period, rising from $4.05 to $4.10.
- A key breakout took place at 21:00 on July 6, when trading volume surged past 1 million units—three times the hourly average—pushing the price through resistance at $4.10.
- The token established a trading range of $0.097 (2.4%), peaking at an intraday high of $4.13.
- Strong buying interest was observed at support levels between $4.03 and $4.05, signaling continued upward momentum.
- On July 7, from 13:05 to 14:04, ATOM saw another bullish push, with a breakout occurring between 13:57 and 13:59, driving the price from $4.09 to $4.10 on high volume exceeding 20,000 units per minute.
- A stable support zone formed between $4.07 and $4.08 during mid-session consolidation ahead of the final rally.
- The token advanced 0.5% from its period low of $4.07 to the high of $4.10 in less than an hour.
- In the closing hour, profit-taking saw the price ease slightly to $4.09, yet ATOM retained most of its gains and formed a higher low, reinforcing the bullish structure.
CD20 Index Sees Sharp Swings Amid Market Uncertainty
The CD20 Index, which tracks a basket of major crypto assets, displayed significant volatility during the same 24-hour window, reflecting heightened market uncertainty.
The index fluctuated between a low of $1,772.50 and a high of $1,793.57, spanning a range of $21.06 (1.18%). After peaking in the early hours of July 7, the CD20 experienced a steep pullback, dropping to $1,772.50 around 13:00, before partially recovering to close at $1,780.94.
This price action underscores a market caught between profit-taking and cautious re-entry, highlighting traders’ indecision as they weigh potential upside against lingering risks.
