ATOM Sees Wild Swings as Crypto Rally Continues
Cosmos’ ATOM token experienced heightened volatility on Monday, trading between $4.64 and $4.85 amid a broader surge in crypto markets fueled by bitcoin’s new record high above $123,000.
ATOM’s price traced a classic V-shaped recovery, plunging to $4.64 before rebounding sharply to challenge resistance near $4.85. Despite the bounce, ATOM remains well below its former bull market high of $44.55, reached during the previous altcoin season.
Key technical indicators suggest further upside could be brewing:
- MACD has flipped positive, hinting at a shift in momentum.
- RSI registers at 62.40, signaling solid buying interest without being overbought.
- Volume has surged above 40,000 units, indicating potential institutional involvement.
- Support has firmed in the $4.64–$4.67 zone on strong volume.
- Resistance sits around $4.85–$4.86, where selling pressure is evident.
- Higher lows near $4.67–$4.68 support a continuing upward trend.
A decisive break above $5.46 could open the door to further gains, with targets set at $6.20 and $7.75.
