ATOM surged 3.90% over the past 24 hours, climbing from $4.20 to $4.36 peak before settling at $4.33. The range reflects strong momentum as bulls push through critical $4.31 resistance at 19:00 GMT on July 9.
Volume spiked 165% above the daily average, confirming bullish sentiment. Price now consolidates between $4.31-$4.35 as traders digest gains. Declining volume signals potential breakout preparation.
The price action comes amid a backdrop of optimism after bitcoin (BTC) rallied to a new record high on Thursday before consolidating lower.
Technical analysis highlights
- $4.31 resistance breaks on exceptional 1,974,095-unit volume surge.
- Healthy $4.31-$4.35 consolidation follows initial breakout momentum.
- $4.34 rejection in final hour confirms resistance ceiling, retreat to $4.32.
- Volume decline during consolidation suggests next directional move preparation.
- $4.31-$4.34 range trading expected as institutions reassess positioning.
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