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ATOM Finds Support at $4.50 as Ethereum Whales Signal Potential Altcoin Season

coindesk.com

19 hour ago

ATOM Finds Support at $4.50 as Ethereum Whales Signal Potential Altcoin Season

The Cosmos ecosystem token has established key support levels around $4.50 as traders navigate the complex interplay between traditional finance concerns and digital asset opportunities. Ethereum whales have doubled their transaction activity in 24 hours, with large transaction volumes surging 164.14% to $7.84 billion, potentially signaling the start of an altcoin season, of which ATOM would benefit. ATOM-USD experienced a volatile trading session with a 3.5% range, showing strong volume support at the $4.502 level where buyers stepped in with 1.63M volume. Technical Analysis Breakdown ATOM-USD exhibited a notable trading range of 0.157 (3.5%) over the 24-hour period, with price action characterized by an initial uptrend reaching a peak of 4.619 before experiencing a sharp correction to 4.498. Strong volume support emerged at the 4.502 level during the 12:00 hour, where buyers stepped in with 1.63M volume (significantly above the 24-hour SMA), propelling prices back above 4.560. The formation of a higher low at 4.522 following the correction suggests potential bullish momentum building, though resistance around 4.600 remains a key level to monitor for potential breakout opportunities. In the last hour, ATOM-USD demonstrated notable volatility with a clear uptrend followed by a sharp correction. Price action began at 4.556 and climbed steadily to reach a peak of 4.589 at 13:27, representing a 0.7% gain within 22 minutes. This rally was supported by increasing volume, particularly at 13:17 where volume spiked to 77,531 units. A significant reversal occurred at 13:31, with prices dropping 2.1% to 4.556 by 13:57, forming a key support level that buyers defended. The final minutes showed modest recovery with prices consolidating around 4.564, suggesting potential stabilization after the volatile session.

https://www.coindesk.com/markets/2025/06/11/atom-finds-support-at-usd4-50-as-ethereum-whales-signal-potential-altcoin-season?utm_source=CryptoNews&utm_medium=app