Cosmos (ATOM) Springs Back After Geopolitical-Driven Dip, Signals Bullish Momentum
Cosmos’ native token, ATOM, demonstrated notable resilience over the weekend, bouncing sharply even as geopolitical tensions in the Middle East sparked turbulence across global markets amid the ongoing conflict involving the U.S., Israel, and Iran.
Technical Indicators Underscore ATOM’s Recovery
- Across a 24-hour span, ATOM-USD experienced a sharp swing, dropping from $3.77 to a low of $3.55—a 5.83% decline—before recovering to end the session at $3.77.
- A significant surge in trading volume, exceeding 6 million units during the 15:00 hour, reinforced a solid support zone near $3.64, while resistance established itself around $3.79.
- Price action carved out a strong V-shaped recovery, with higher lows forming throughout the second half of trading—a classic signal of renewed bullish sentiment.
- In the closing hour, ATOM-USD inched higher from $3.76 to $3.77, suggesting steady buying interest.
- A notable breakout materialized at 11:16, as the price surged from $3.77 to $3.79, fueled by the day’s highest hourly volume of nearly 28,000 units.
- The session’s movement created an ascending channel, with firm support anchored around $3.76 and resistance consolidating near $3.78 around the 11:17 mark.
Despite ongoing geopolitical uncertainty, ATOM’s swift rebound and solid technical patterns suggest that traders remain optimistic. Market watchers are now eyeing whether this momentum can sustain further gains in the coming days.
