ATOM noticed an 8% surge from $4.49 to $4.84 between 12 August 11:00 and 13 August 10:00, supported by heavy buying and selling quantity of over 2 million models, signalling sturdy institutional curiosity. The bullish momentum endured within the closing hour of buying and selling, peaking at $4.85 earlier than consolidating to $4.83, with vital quantity affirmation reinforcing the breakout above the $4.78 resistance. Robust help has been established at $4.65, setting the stage for a doable transfer towards the $4.90–$5.00 vary.
Over the past hour, ATOM rose from $4.82 to $4.85—a 0.62% achieve—earlier than easing barely to $4.83, a 0.21% dip from the session excessive. Notably, the $4.85 degree was examined and validated by a 24,467-unit quantity spike at 10:20, adopted by profit-taking that led to a measured pullback. Subsequent quantity spikes of 47,638 models at 10:44 and 59,892 models at 10:48 throughout restoration makes an attempt underscored continued institutional engagement, even in consolidation phases.
The closing minutes noticed minimal exercise, indicating a quick pause in buying and selling momentum. Nonetheless, the mix of sustained shopping for curiosity, rising help ranges, and decisive resistance breaches suggests ATOM is well-positioned for continued upside. With quantity dynamics confirming bullish intent, the asset stays on monitor for a possible problem of the $4.90–$5.00 value goal within the close to time period.
The transfer comes as bitcoin dominance dipped beneath 60% for the primary time since January, demonstrating relative power within the altcoin sector. Nonetheless, if bitcoin can break above a $124,000 and type a brand new file excessive, altcoins could slip as capital rotates again to BTC.
Key Technical Indicators
- ATOM exhibited a compelling bullish trajectory with an combination vary of $0.38 (8.52%) all through the 23-hour buying and selling interval.
- Strong help established at $4.65 with substantial quantity affirmation throughout the 02:00 restoration section.
- Resistance materialised proximate to $4.78 the place value motion initially encountered resistance at 20:00 earlier than reaching upward breakthrough.
- Notable momentum acceleration occurred throughout concluding hours, significantly at 09:00 with distinctive quantity considerably surpassing the 24-hour common of 1,148,473 models.
- Technical breakout substantiated by sustained quantity enlargement and ascending help formation.
- Profitable examination of $4.85 resistance zone with strong quantity affirmation previous profit-taking pressures.
- Volume surges at important inflection factors confirming institutional participation throughout the consolidation section.
Disclaimer: Elements of this text had been generated with the help from AI instruments and reviewed by our editorial staff to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
