Key Insights:
- The ATOM cryptocurrency surged from $4.05 to $4.21, marking a 4% increase with trading fluctuations worth $0.19.
- Key support levels around $4.09-$4.11 proved resilient despite overnight sell-offs, while resistance at $4.17-$4.18 was breached during late recovery, fostering a new consolidation area above $4.20.
Trading History
The price of ATOM-USD showed strong resilience during the final hour on July 9, increasing from $4.22 to $4.21. Initial market volatility saw the cryptocurrency test its support close to $4.18 between 14:30 and 14:45, but it quickly reestablished an upward trajectory.
- First 30 minutes: Solid support near $4.18
- By 14:56: Broke above $4.20 with over 46,000 units traded, creating resistance around $4.21-$4.22 with diminishing volatility, a typical sign of consolidation above critical support levels.
Outlook
The rise of ATOM coincides with increasing confidence in the altcoin market, as market analysts predict the potential for an altcoin season if Bitcoin achieves new peaks and stabilizes.
Technical Indicators Indicating Strength:
- Initial boost to $4.17 created crucial resistance near $4.17-$4.18.
- Support established between $4.09-$4.11 during the overnight slide.
- Volume during breakout sequences peaked at over 1.11 million.
- Consolidated recovery like formations were noted late into the night, suggesting momentum for sustained performance.
