ATOM Climbs 8% Amid Strong Institutional Activity, Targets $5.00
Significant trading volume indicates continued momentum for ATOM, breaking through key resistance levels.
What to know:
- ATOM surged 8% from $4.49 to $4.84, surpassing the $4.78 resistance with substantial institutional backing totaling over 2 million units.
- The price peaked at $4.85 before adjusting to $4.83, with volume spikes at crucial moments confirming ongoing buying pressure.
- With a solid support at $4.65 and strong upward momentum, ATOM is on track to challenge the $4.90–$5.00 target despite minor corrective phases.
During the last hour, ATOM rallied slightly, hitting $4.85—0.62% growth—before dipping to $4.83, indicating a continuous interest from institutional traders. The asset has established a reliable support at $4.65, positioning itself for a potential rise to the $4.90–$5.00 range.
The latest trading action follows a decline in Bitcoin’s dominance below 60% for the first time in months, reflecting growing strength in altcoins. If Bitcoin manages to break the $124,000 threshold, however, there may be a shift in capital back towards BTC.
“ATOM soars 8% to $4.83 on strong institutional volume and breakout momentum, targeting $5.00.”
