ATOM saw an 8% surge from $4.49 to $4.84 between 12 August 11:00 and 13 August 10:00, supported by heavy trading volume of over 2 million devices, signalling noteworthy institutional curiosity. The bullish momentum persevered in the closing hour of trading, peaking at $4.85 before consolidating to $4.83, with indispensable volume confirmation reinforcing the breakout above the $4.78 resistance. Sturdy red meat up has been established at $4.65, environment the stage for a probable transfer toward the $4.90–$5.00 vary.
Throughout the closing hour, ATOM rose from $4.82 to $4.85—a 0.62% construct—before easing moderately to $4.83, a 0.21% dip from the session high. Notably, the $4.85 stage was once tested and validated by a 24,467-unit volume spike at 10:20, followed by income-taking that resulted in a measured pullback. Subsequent volume spikes of 47,638 devices at 10:44 and 59,892 devices at 10:48 for the period of restoration attempts underscored persisted institutional engagement, even in consolidation phases.
The closing minutes saw minimal task, indicating a short cease in trading momentum. Nonetheless, the combination of sustained procuring curiosity, rising red meat up ranges, and decisive resistance breaches suggests ATOM is neatly-positioned for persisted upside. With volume dynamics confirming bullish intent, the asset remains no longer off target for a doable situation of the $4.90–$5.00 mark procedure in the conclude to term.
The transfer comes as bitcoin dominance dipped beneath 60% for the first time since January, demonstrating relative energy in the altcoin sector. Nonetheless, if bitcoin can damage above a $124,000 and invent a brand fresh memoir high, altcoins would possibly whisk as capital rotates support to BTC.
Key Technical Indicators
- ATOM exhibited a compelling bullish trajectory with an combination vary of $0.38 (8.52%) right thru the 23-hour trading period.
- Sturdy red meat up established at $4.65 with colossal volume confirmation for the period of the 02:00 restoration phase.
- Resistance materialised proximate to $4.78 the put mark circulate before every thing encountered resistance at 20:00 before reaching upward step forward.
- Essential momentum acceleration took place for the period of concluding hours, in particular at 09:00 with excellent volume considerably surpassing the 24-hour moderate of 1,148,473 devices.
- Technical breakout substantiated by sustained volume growth and ascending red meat up formation.
- A hit examination of $4.85 resistance zone with sturdy volume confirmation previous income-taking pressures.
- Volume surges at crucial inflection aspects confirming institutional participation within the consolidation phase.
Disclaimer: Facets of this text had been generated with the the support of AI instruments and reviewed by our editorial crew to make certain accuracy and adherence to our standards. For more knowledge, watch CoinDesk’s full AI Protection.
