Tensions in the Middle East continue to shape cryptocurrency markets as ATOM demonstrates remarkable resilience in recent trading.
The Cosmos ecosystem token recovered from a significant dip to $3.939, establishing crucial support around the $4.000 psychological level despite broader market uncertainty.
Technical analysis
- ATOM-USD demonstrated resilience over the 24-hour period, recovering from a significant dip to $3.939 at 17:00 on June 18 to establish a new support zone around $3.994-$4.000.
- The overall range of $0.121 (3.05%) reflects moderate volatility, with a notable bullish surge occurring at 20:00 when price jumped 2.16% on above-average volume, establishing resistance at $4.059.
- The $4.000 psychological level has emerged as a key support zone with multiple tests confirming buyer interest, while the 4-hour chart shows a developing ascending trendline suggesting cautious bullish momentum despite the late session pullback from $4.029 to $3.998.
- In the last hour, ATOM-USD experienced significant volatility, dropping sharply from 4.026 to a low of 3.996 at 13:47, breaking below the psychological $4.000 support level.
- A notable volume spike occurred at 13:33 with over 47,000 units traded during the sell-off.
- The price found a floor around 3.995 and gradually recovered, crossing back above $4.000 at 14:02, establishing a potential new support zone.
- This recovery pattern reinforces the resilience mentioned in the 24-hour analysis, with the price now stabilizing at 4.001, suggesting renewed buyer interest after testing lower levels.
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