Altcoins took a breather on Thursday as bitcoin and ether climbed toward potential record highs, drawing most of the market’s attention.
As capital flowed into bitcoin amid a wave of short positions, altcoins like ATOM entered a phase of price consolidation. ATOM maintained critical support around the $4.20 level during the session.
Historically, strong bitcoin rallies often lead to subdued altcoin activity. Analysts suggest altcoins, including ATOM, may see renewed volatility once bitcoin’s pace moderates and the market shifts focus.
ATOM Price Action and Technical Levels
- ATOM traded within a 4% range between $4.09 and $4.26 during the 24 hours from 2 July at 16:00 to 3 July at 15:00.
- The $4.16–$4.17 zone offered solid support, while significant buy orders emerged around $4.20 around 13:00.
- Despite reaching $4.26 early on 3 July, ATOM failed to push above key resistance at $4.25.
- From 14:24 to 15:23, the token slipped from $4.24 to $4.21—a modest 0.73% decline.
- A sharp, brief dip between 15:03 and 15:07 sent ATOM down to $4.19 before partial recovery.
- ATOM hovered near $4.21 in the closing minutes, signaling a balanced tug-of-war between buyers and sellers.
CD20 Index Sees Early Gains, Ends Lower
- The CD20 index mirrored broader crypto volatility, peaking at $1,811.11 before retreating to $1,793.55—a 2% fluctuation.
- It bounced from $1,780 support in early trading and gained strength into the afternoon of 3 July. However, late-session profit-taking erased some of those gains, signaling uncertainty as momentum slowed.
