ATOM Extends Slide as Volume Surge Flags Institutional Selling
Cosmos’ ATOM token fell 3.7% over the past 24 hours, closing at $4.43 as intensifying sell pressure dragged prices below key technical levels. The decline, from $4.60 to $4.43, was punctuated by a sharp drop between 10:00 and 11:00 GMT, when prices sank from $4.48 to $4.39 on a volume spike to 2.71 million—roughly three times the average daily flow.
The late-session action remained volatile, with prices oscillating between $4.405 and $4.438. A brief liquidation event at 13:23 GMT pushed ATOM to intraday lows, as 56,962 tokens changed hands in a single minute. Despite a minor rebound, the token ended the day just above support, failing to overcome resistance at $4.438.
Fundamentals continue to improve across the Cosmos ecosystem, with the network surpassing 100 active chains and making progress on XRP integration via the Cosmos SDK and IBC. Yet, technical sentiment remains dominant, with macro uncertainty and risk-off behavior limiting upside traction.
Technical Breakdown
- Support Zone: $4.39 confirmed by high-volume test; $4.41 offering interim stability
- Resistance Levels: $4.44 capping intraday upside; $4.62–$4.65 broader resistance zone
- Volume Signal: 2.71 million peak volume during key hourly breakdown points to possible institutional exits
- Bearish Target: Breakdown trajectory suggests $4.30–$4.35 as potential next support
- Market Structure: Downtrend persists; resistance holding, support weakening
Without a decisive reversal or breakout above resistance, ATOM appears set to test lower levels as the bearish momentum remains in control.
