ATOM Plunges 4% as Bearish Momentum Accelerates
ATOM tumbled 3.7% in the 24-hour session ending July 30 at 14:00 GMT, falling from $4.60 to $4.43 under intense selling pressure. The most aggressive drop occurred between 10:00 and 11:00 GMT, when the price plummeted from $4.48 to $4.39 on an explosion of volume to 2.71 million—nearly triple the daily average. This steep decline underscores the dominance of sellers and the failure of recent support levels to hold.
In the final hour of trading, ATOM experienced choppy consolidation between $4.405 and $4.438. A notable selloff at 13:23 GMT saw the token hit session lows amid 56,962 units traded. Though the price recovered slightly to close at $4.427, the overall pattern remained bearish, with resistance at $4.438 and support tested repeatedly near $4.405.
Despite positive ecosystem developments—such as Cosmos reaching 100 live chains and progressing XRP integration via the Cosmos SDK and IBC—the market ignored fundamentals and focused on technical weakness. With multiple supports breaking and sellers firmly in control, the path of least resistance remains downward.
Technical Indicators
- Critical support emerges at $4.39 with high-volume confirmation and secondary floor at $4.50.
- Resistance wall builds at $4.62-$4.65 from early session peaks.
- Downtrend acceleration warns of deeper losses toward $4.30-$4.35 target zone as support levels fail .
- Hourly action shows $4.44 resistance capping gains while $4.41 support provides temporary floor.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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