Sellers Push ATOM Down 4%, Threatening Crucial $4 Price Floor

ATOM Falls 4% as Crypto Markets Retreat; CD20 Index Slips Amid Cautious Sentiment

Cosmos’ native token, ATOM, has dropped 4% in the past day, mirroring the abrupt end of Thursday’s brief crypto rally as markets cooled heading into Friday.

Trading activity was lighter than usual, in part because of the U.S. Independence Day holiday, which contributed to reduced volatility across the board.

Bitcoin narrowly missed setting a new record high on Thursday, peaking close to $111,000 before pulling back to $108,000. The weakness spilled over into altcoins like ATOM, which declined alongside the broader market.

Technical Overview: ATOM-USD

ATOM-USD declined by $0.17 (3.95%) from $4.22 to $4.06 between 15:00 on July 3 and 14:00 on July 4.
The asset established a downward trend after failing to hold the $4.17 support level, encountering strong selling pressure around $4.09.
Trading volume spiked to 588,338 units at 7:00 on July 4—well above the daily average—indicating increased selling activity.
Repeated attempts to establish support near $4.07 were unsuccessful, pointing to sustained bearish momentum.
Within a one-hour window from 13:06 to 14:05 on July 4, ATOM-USD fell another $0.03 (0.61%), sliding from $4.09 to $4.06.
A brief rebound attempt at 13:53 pushed prices to $4.07, but buying interest quickly faded under renewed selling pressure.
The continuation of lower highs and lower lows signals that ATOM remains in a bearish pattern as it edges closer to the significant $4.00 support level.

CD20 Index Down Over 2%

During the same period, the CD20 index—which tracks leading digital assets—fell from $1,803.70 to $1,765.27, marking a loss of $38.43 or 2.13%.

The index traded within a range of $38.84 (2.15%), showing consistent selling activity. In the final trading hours, the index dropped to a low of $1,764.86 by 14:00. Despite brief consolidation efforts around $1,780, market sentiment remains wary, hinting at broader weakness across the crypto sector.