Cosmos (ATOM) saw a strong price jump, backed by big traders and growing market support.
- ATOM rose 8% in under 24 hours, breaking past key price resistance.
- High volume shows large investors are buying even during small dips.
- Support is holding at $4.65 with potential to move toward $5.00 soon.
ATOM Sees Strong Price Surge
The price of ATOM went from $4.49 to $4.84 between August 12 and August 13. This 8% jump came with high trading volume—over 2 million units traded. The rise continued in the final hour of trading, briefly reaching $4.85 before settling at $4.83. Market data shows that breaking the $4.78 price level was key. This confirms a shift in momentum.
Institutional Activity Supports Price
High trading volume often shows that big buyers are involved. ATOM had several spikes in trading. One happened at 10:20 with 24,467 units traded. Another came just minutes later with 59,892 units at 10:48. These jumps came during price recovery—after slight dips—showing that investors are stepping in. The $4.85 resistance level was tested and held, thanks to these volume boosts. This suggests that serious buyers are supporting the price.
Key Support and Resistance Levels
Support for ATOM is now strong at $4.65. This level held firm during recent pullbacks. The current resistance sits just below $5.00, around $4.90 to $5.00. If ATOM breaks above that range, it may start another strong push upward. Until then, it may bounce between the $4.65 and $4.85 range.
Market Trends Favor Altcoins
This rally comes at a time when Bitcoin dominance has fallen below 60%. That shows that altcoins like ATOM are gaining attention. If Bitcoin regains market strength and climbs above $124,000, money may leave altcoins as traders go back to BTC. But for now, ATOM looks ready for more growth, with both price and volume moving in the right direction.
Source: coindesk.com
