ATOM Plunges Below $4 as Selling Pressure Intensifies

Global trade tensions and shifting monetary policies continue to influence cryptocurrency markets, with ATOM showing notable volatility in recent trading. During the 24-hour period from 30 June 15:00 to 1 July 14:00, ATOM-USD traded within a 5.1% range, facing consistent selling pressure despite a late recovery attempt with increasing buy volume. The cryptocurrency briefly dipped below $4.00 before showing signs of short-term bullish momentum in the final trading hour. Technical Analysis: ATOM’s Price Action ATOM-USD exhibited significant volatility with an overall range of $0.207 (5.1%) during the 24-hour period from 30 June 15:00 to 1 July 14:00. • Price formed a clear resistance zone around $4.16-$4.18 with above-average volume (804K) during the 19:00 hour. Support at $4.04 broke with heavy volume (562K) at 04:00, pushing ATOM below the psychological $4.00 level. Despite a late recovery attempt with increasing buy volume in the final hours, ATOM remains vulnerable with immediate resistance at $4.02 and support at $3.98. In the last 60 minutes from 1 July 13:06 to 14:05, ATOM-USD demonstrated bullish momentum, rising from $4.004 to $4.024 (0.5% gain). Price action formed a clear uptrend with increasing volume (44.9K) during the 13:44 hour. Local high of $4.032 established at 13:53, creating new resistance at $4.03 while maintaining support at $4.02.

Source: CoinDesk