ATOM Faces Sharp Decline Amid High-Volume Selloff
Main Idea
ATOM-USD experienced significant volatility with a sharp decline and recovery, showing strong buyer support at $4.60 despite heavy selloff pressure.
Key Points
1. ATOM-USD saw a 9% price swing from $4.91 to $4.49 with trading volume spiking to 5.62M units, 322% above average.
2. The asset faced an aggressive selloff, bottoming at $4.53 before buyers stepped in to stabilize the price around $4.60.
3. A recovery phase saw ATOM rise from $4.60 to $4.64, consolidating in a tight range of $4.59–$4.62, confirming $4.60 as a support level.
4. Resistance at $4.91 remains untested, and holding the $4.60 support is crucial for maintaining bullish momentum.
5. Technical indicators highlight a 9% volatility range, a volume spike, and established resistance and support levels.
Description
ATOM-USD saw sharp volatility between 13 August 15:00 and 14 August 14:00, trading between $4.49 and $4.91 with volume spiking to 5.62M units—over 322% above average. After holding in the $4.82–$4.85 range and briefly hitting $4.91, the asset faced an aggressive selloff from 06:00 on 14 August, bottoming at $4.53 at 12:00 on heavy volume, signaling potential capitulation. Buyers quickly stepped in, establishing fresh support near $4.60 and restoring confidence in the Cosmos ecosystem. This price...
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