Intense Selling Pushes ATOM Price Below $4

Cosmos (ATOM) Volatile as Price Dips Below $4 Amid Market Uncertainty

Cosmos (ATOM) has faced significant price swings in the past 24 hours, reflecting broader uncertainty in crypto markets driven by global trade tensions and evolving monetary policy dynamics.

Between June 30 at 15:00 UTC and July 1 at 14:00 UTC, ATOM-USD fluctuated within a 5.1% range as selling pressure persisted, briefly pulling the token below the crucial $4.00 mark. Although there was an attempt to rebound toward the session’s end, resistance levels continue to suppress any substantial recovery.

Technical Insights: ATOM’s Recent Moves

24-Hour Range: ATOM-USD traded through a $0.207 range, highlighting notable volatility.
Resistance Zone: Resistance appeared around $4.16–$4.18, underscored by high trading volume of 804K during the 19:00 UTC hour.
Support Breakdown: Sellers overwhelmed support at $4.04 during the 04:00 UTC hour, causing ATOM to drop below $4.00, accompanied by a spike in volume to 562K.
Recovery Attempts: Despite a brief uptick in buying activity, ATOM remains under pressure, facing resistance at $4.02 and holding support at $3.98.
Late-Session Bounce: In the final hour of trading (13:06–14:05 UTC), ATOM managed a modest recovery, climbing from $4.004 to $4.024 — a 0.5% increase.
Volume Signals: At 13:44 UTC, trading volume reached 44.9K, indicating a potential short-term upward trend.
New Levels Established: ATOM recorded a local high at $4.032 by 13:53 UTC, creating immediate resistance at $4.03 and maintaining short-term support at $4.02.

Market Outlook

Despite recovering slightly from its intraday lows, ATOM’s technical setup suggests continued vulnerability. A decisive break above $4.03 would be necessary to shift momentum in a bullish direction, while a drop beneath $3.98 could open the door to further declines.