What to Know
- ATOM-USD surged by 6.73% within 24 hours, crossing the $4.00 resistance mark with higher-than-average trading volumes.
- Ongoing tensions in the Middle East are leading to volatility in the cryptocurrency sector, showcasing ATOM’s ability to perform well despite prevailing market uncertainties.
- Recently, Cosmos conducted its Sovereign EVM Day featuring Ripple, which may enhance ATOM’s footprint in DeFi and open new cross-network opportunities.
Market Insights
Amid continued uncertainty between Iran and Israel, ATOM has shown impressive resilience with a strong price breakout. The token advanced from $3.787 to $4.042, solidifying support above the significant $4.00 level with robust buyer confidence.
Technical Breakdown
- ATOM-USD recorded a 6.73% increase in a 24-hour frame, witnessing a price fluctuation of $0.359 (9.52%).
- The breakout was confirmed at 22:00 on June 23, propelling prices past the $4.00 barrier.
- Trading volume reached 2,027,234 units during this pivotal breakout, nearly doubling the previous 24-hour SMA (Simple Moving Average) of 1,023,000.
- Henceforth, a new high-volume resistance point was established at $4.09, and post-breakout, ATOM maintained its foothold above $4.00 with diminished volatility, indicating potential consolidation.
- In the latest hour, ATOM saw a bullish breakout at 12:03, enhancing from $4.035 to $4.042.
- This mini-rally advanced to $4.046 at 12:04, marking a 1.0% increase in a mere two minutes. The considerable volume during this uptick evidenced strong buyer engagement.
