Key Highlights:

• ATOM-USD fluctuated between $4.49 and $4.91 over the last 24 hours, with a massive volume of 5.62M units, marking a 322% increase from the average volume. This pointed to significant market activity during a sudden selloff that dropped the price to $4.53.
• Following the selloff, buyers quickly established strong support at $4.60, which has helped stabilize the prices and restore confidence within the Cosmos market.
• The trading managed to consolidate between $4.59 and $4.62, with $4.60 identified as a crucial support level while $4.91 remains a key resistance point.

Observations:

ATOM-USD faced a volatile period on August 13-14, culminating in a sharp intraday price movement due to significant selloff pressures. However, encourage bullish signals emerged as buyers began to place confidence back into the asset at around $4.60. The immediate focus is on retaining this key support to avert further downturns while aiming to test the $4.91 resistance level in future trading sessions.