ATOM Sees Volatile Upswing Amid Broader Crypto Rally
Cosmos’ ATOM token experienced sharp volatility on Monday, trading in a range between $4.64 and $4.85 as optimism fueled by Bitcoin’s fresh record high above $123,000 spilled over into altcoins.
The token staged a classic V-shaped recovery, plunging to $4.64 before rebounding strongly toward resistance at $4.85. Despite this rebound, ATOM’s price remains far below its previous bull market peak of $44.55, set during the height of the last altcoin season.
Technical signals suggest growing bullish sentiment:
- The MACD has flipped to a positive crossover, hinting at renewed upward momentum.
- The RSI stands at 62.40, reflecting healthy buying interest without entering overbought territory.
- Trading volume surged past 40,000 units, indicating increased participation from larger market players.
- A solid support zone is visible between $4.64 and $4.67, reinforced by significant volume.
- Resistance has developed around $4.85–$4.86, where sellers are beginning to appear.
- A pattern of higher lows near $4.67–$4.68 suggests continued upward pressure.
Looking ahead, a decisive move above $5.46 would signal a bullish breakout, potentially opening the path toward price targets of $6.20 and $7.75.
