ATOM Recovers from Major Support Zone, Setting Up for Additional Gains

ATOM Rallies 3% as $4.04 Resistance Emerges Following V-Shaped Recovery

Crypto markets remained relatively calm on Wednesday, with most assets continuing to trade in narrow ranges. However, Cosmos’ ATOM token showed signs of strength, rebounding toward the $4.00 level and potentially setting up for further upside.

ATOM posted a 3% gain over the last 24 hours, forming a distinct V-shaped recovery pattern from July 1 at 15:00 to July 2 at 14:00—indicating renewed buying interest in an otherwise cautious market environment.

Key Technical Takeaways:

The token’s recovery was supported by strong volume around the $3.91 level during the 01:00 UTC session on July 2, where activity exceeded the 24-hour average of 425,000 units.
Price moved within a $0.13 range (up 3.24%), with a resistance zone taking shape around $4.04 after being tested multiple times between 11:00 and 13:00 UTC on July 2. A breakout above this level could confirm bullish continuation.
During the 13:06–14:05 UTC period, ATOM rose from $4.02 to $4.03, marking a 0.32% increase.
A short-term dip to $4.01 around 13:24 was quickly reversed, creating a rounded “cup” formation on intraday charts.
Strong buyer activity returned in the final minutes of the hour, especially between 13:58 and 13:59, where trading volume spiked above 33,000 tokens, solidifying support at $4.02.
ATOM pushed through the $4.03 level in the closing minutes, recording three consecutive higher highs from 14:03 to 14:05—suggesting momentum remains in favor of bulls.

While the overall crypto market remains directionless, ATOM’s structure and price action hint at a potential upward breakout if current resistance levels are overcome.