ATOM Drops 4.5% as Cosmos Hits 100-Chain Milestone; Technicals Signal Continued Pressure
Cosmos’ native token ATOM declined 4.51% over the past 24 hours, falling from $4.88 to $4.66 as bears maintained control despite multiple intraday recovery attempts. The price action unfolded as the broader Cosmos ecosystem marked a major achievement—crossing 100 active chains tracked on MapOfZones.
Mixed Technical Picture as Support Emerges
According to CoinDesk Research, ATOM saw increased volatility, with trading ranging across $0.37 (7.58% intraday) between resistance at $4.95 and support near $4.56. While buyers stepped in during the early morning hours to push the price back toward $4.77, a heavy volume selloff at 10:51 UTC—totaling 193,762 tokens—forced a sharp drop to $4.63, establishing a new session support level.
Key Indicators:
- Resistance: Strong rejection at $4.95, capped by early session volume of nearly 1.9 million units.
- Support: Developed overnight at $4.56, reinforced during final hours.
- Volatility: Intraday range at 7.58%, underscoring unstable market conditions.
- Momentum: Recovery attempts consistently met with renewed selling.
Ecosystem Developments: New Protocols, Expanding Interoperability
Despite the short-term price weakness, Cosmos continues to build out its ecosystem. ShadeX, the network’s first encrypted money market, launched this week—bringing privacy-focused DeFi functionality using CosmosSDK and CosmWasm. In parallel, integration of XRP via Cosmos SDK and IBC protocols is progressing, signaling growing cross-chain utility.
ATOM’s technical landscape suggests near-term downside risk remains, though rising ecosystem utility and expanding adoption may offer long-term support for the token.
