ATOM Plunges 5% Despite Recovery Attempts Amid Bearish Pressure

Technical Analysis Shows Mixed Signals

• ATOM drops 4.51% over 24 hours ending July 29 11:00, sliding from $4.88 to $4.66 as recovery bids fail.
• Cosmos ecosystem crosses 100 live chains on MapOfZones while XRP integration progresses via Cosmos SDK and IBC protocols.
• ShadeX debuts as Cosmos' first encrypted money market, delivering institutional-grade privacy through CosmosSDK and CosmWasm tech.

Market Performance Analysis

ATOM battles volatile sessions with resistance capped at $4.95 before overnight support emerges near $4.56. The token shows fight with recovery drives toward $4.77, yet selling waves push close to $4.66, signaling persistent bear grip short-term.

Key Technical Indicators

• Resistance holds firm at $4.95 in opening with heavy volume hitting 1,889,637 units.
• Support emerges around $4.56 during overnight sessions.
• Trading range spans $0.37, marking 7.58% intraday volatility.
• Recovery bid launches from 05:00, driving prices toward $4.77.
• Selling surge at 10:51 brings exceptional volume of 193,762 units.
• Sharp 1.87% single-minute drop establishes session support at $4.63.
• Recovery momentum breaks multiple resistance barriers.
• Close near session peaks signals fresh buying appetite.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

View Comments