ATOM Surges 7% From $4.47 Support Amid Strong Volume and Market Uncertainty
Cosmos (ATOM) rebounded strongly on July 24, climbing from an intraday low of $4.47 to close at $4.77, driven by heavy trading volume amid ongoing geopolitical tensions impacting the broader market.
The token’s price swung 7% within the day, reaching a high of $4.82 before retreating slightly. Volume surged past 2.28 million units around the critical $4.47 support level, signaling solid buying interest and confirming this as an important technical floor.
During the final hour of trading, ATOM extended its gains, rallying from $4.69 and briefly surpassing the $4.80 resistance on volume exceeding 77,000 units. Profit-taking led to a modest pullback to $4.74, but the token still posted a 1% gain in the last hour, reflecting a balanced battle between bulls and bears near resistance.
ATOM’s resilience stands out as many altcoins face volatility after recent gains, with investors recalibrating risk amid Bitcoin and Ethereum price swings. Its ability to hold support and attract volume suggests it may be better positioned than peers during this consolidation phase.
Technical Summary
- Intraday price range of $0.33, a 7% move between $4.47 and $4.82
- Heavy volume exceeding 2.28 million units traded near $4.47 support
- Resistance tested near $4.80 with volume above 77,000 units
- Buyer demand absorbed selling pressure, fueling recovery
- Profit-taking near resistance signals caution but no loss of momentum
