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The Cosmos ecosystem token
The move comes as bitcoin ambles its way back to the $110,000 level of resistance, a point it rejected from last week causing a day of decline across the altcoin market.
ATOM is now well poised to continue to the upside as trading volume tripled over the past 24 hours, indicating optimism from traders.
Technical Analysis
- ATOM-USD climbed from $4.05 to $4.10, representing a 1.23% gain during the 24-hour period from 6 July 15:00 to 7 July 14:00.
- A significant breakout occurred at 21:00 on 6 July when volume surged to over 1 million units (3x the hourly average), pushing price through the $4.10 resistance level.
- Price established a trading range of $0.097 (2.4%) with a high of $4.13.
- Strong buyer interest confirmed at support zones between $4.03-$4.05, suggesting continued upward momentum.
- During the 60-minute period from 7 July 13:05 to 14:04, ATOM exhibited a bullish breakout at 13:57-13:59, with price surging from $4.09 to $4.10 on elevated volume exceeding 20,000 units per minute.
- Clear support zone established at $4.07-$4.08 during mid-period consolidation before the final rally.
- Price pushed up 0.5% from period low to high ($4.07 to $4.10).
- Closing hour showed profit-taking with price settling at $4.09, still maintaining most gains and forming a higher low compared to opening price.
CD20 Index Whipsaws as Market Indecision Intensifies
CD20 Volatility Signals Market Uncertainty The CD20 displayed notable volatility over the last 24 hours from 6 July 15:00 to 7 July 14:00, with a significant range of $21.06 (1.18%) between the low of $1772.50 and high of $1793.57.
After reaching a peak during the early hours of 7 July, the index experienced a sharp correction, dropping to $1772.50 at 13:00 before staging a recovery to close at $1780.94, suggesting market indecision as traders navigate between profit-taking and renewed buying interest.