Atom rose from $4.36 to $4.36 to $4.55 on August 8 UTC, violating key resistance in 21.9 million units sales far exceeding the daily average. The rally was fueled by the massive purchase of Cosmos ecosystem tokens, which is related to Coinbase’s DyDX launch (cosmosdydx) Support on its native network. Market analysts say the expansion strengthens the bridge between centralized and decentralized transactions, reflecting an increase in institutional interest in interoperable blockchain infrastructure.
However, momentum quickly disappeared in the last hour of trading. Between 14:39 and 15:38, the atoms whipped violently, first soaring to $4.60 and then sliding to $4.56, marking a 0.52% loss per hour. The sell-off accelerated when the token broke the $4.58 support with $4.58 support at 15:03, triggering a centralized sale of 26,000 units in a four-minute period. By the end, the volume had evaporated to zero, signaling exhausted, and leaving a range of $4.58-4.60 as a new overhead resistance zone.
Price action is conducted in a broader market context where Bitcoin tested $116,000 in resistance, and institutional whales rotated capital into large altcoins and utility tokens. In the Cosmos ecosystem, the surge and sudden reversal of Atom highlights the strength of institutional demand and the vulnerability of short-term gatherings. Traders now see $4.55 as a key support and are looking at whether new purchase interest can overcome resistance and rebuild upward momentum.
Technical indicator decomposition
- Atom’s gains rose from $4.36 to $4.55, with a 4% gain, and the $0.34 traded in the low of $4.32 to $4.67.
- The key breakthrough occurred at 13:00 on August 8, when the atoms exploded through a resistance of $4.55, soaring to $4.65, with a large volume of 2.19 million units.
- Trading volume compressed the average 24-hour average of 1.35 million, confirming high volume resistance interruption.
- Strong support emerged at $4.46, with buyers repeatedly stepping in.
- The $4.55-$4.67 area is now a key resistance after a breakout attempt.
- From August 8 to the last 60 minutes from August 8 14:39 to 15:38, see the dramatic reversal, initially climbing from $4.58 to a high price of $4.60.
- Heavy sales hit rate when Atom interrupts $4.58 support.
- The deal died in the last few minutes with a zero capacity of 15:38.
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