Cosmos’ native token ATOM posted a robust 4% gain over the past 24 hours, surging from $4.78 to $4.89 between July 27 at 15:00 and July 28 at 14:00 UTC. The token’s bullish advance was supported by clear technical signals, including multiple higher lows and a decisive breakout above the $4.84 resistance level, powered by volume surges that surpassed 1.2 million during key sessions at 06:00, 12:00, and 13:00 UTC.
The latter part of the trading window saw ATOM dip briefly from a peak of $4.92 to $4.88 before rebounding to $4.91, reflecting a healthy consolidation phase. This movement was accompanied by diminishing volume, suggesting that the market may be stabilizing around the $4.90-$4.91 support zone as traders await the next directional move.
Much of the upcoming price action will depend on whether BTC can break out of its current range and form new record highs, a shift above $124,000 and a period of consolidation would positively benefit altcoins including ATOM.
Technical Analysis Summary
- Clear uptrend established with multiple higher lows.
- Resistance breached at $4.84 with strong volume confirmation.
- Volume spikes exceeded 1.2 million during key breakout sessions at 06:00, 12:00, and 13:00 UTC.
- Strong volume support between $4.82–$4.84.
- Overall trading range of $0.19 (4%) indicating constructive volatility.
- Late-session consolidation near $4.90–$4.91 as volume tapered off.
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