ATOM Surges 3% Amid Volatile Session as Altcoin Season Beckons

Cosmos' ATOM token rose by 3% over the past 24 hours as the altcoin market continues to heat up, with several indicators pointing towards a long-awaited "altcoin season."

ATOM displayed notable volatility on Thursday after its pivot away from its EVM platform development initiative, which was decided after analysis revealed fundamental misalignment with the project's primary blockchain interoperability objectives.

The move is seen to have strengthened Cosmos' position as a standalone layer-1 blockchain, spurring investors confidence.

A breakout above $4.783 would indicate a bullish resolution, with upside targets initially spanning to $5.00 and beyond.

ATOM/USD (CoinDesk Data) Technical Indicators

• Price range: $4.62 - $4.88 representing 6% total volatility during 24-hour period.
• Volume spike: Above-average trading volume of 1,295,141 and 1,236,020 during peak movement hours.
• Support level: Strong buying interest emerged at $4.64-$4.67 range with consistent volume.
• Resistance zone: Volume-based resistance established around $4.87-$4.88 levels.
• Trading range: Current consolidation between $4.64 support and $4.87 resistance.
• Midpoint bias: Price maintains above $4.75 midpoint indicating neutral to bullish sentiment.
• Intraday recovery: Sharp selloff to $4.74 followed by robust recovery above $4.79 resistance.
• Volume confirmation: Exceptional volume of 66,331 units during correction phase validates support test.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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