“Cosmos Token Breaks Resistance on Heavy Volume After Coinbase Expands Native Network Support, But Late-Session Selloff Erases Gains and Sets New Resistance Zone.”, – WRITE: www.coindesk.com
Momentum, However, Faded Quickly in the Final Hour of Trading. Between 14:39 and 15:38, Atom Wipsawed Sharply, First Spiking to $ 4.60 Before Sliding to $ 4.56, Marking A 0.52% Hourly Loss. The Selloff Accelerated WHEN Broke Below $ 4.58 Support at 15:03, Triggering Concentrated Selling of 26,000 Units Over A Four-Minute Span. By the Close, Trading Volume Had Evaporated to Zero, Signaling Exhaustion and Leaving the $ 4.58– $ 4.60 Range As A New Overhead Resistance Zone.
The Price Action Unfolded Against A Broader Market Backdrop WHERE BITCOIN TESTED $ 116,000 Resistance and Institutional Whales Rotated Capital Into Large-Cap Altcoins and Utility. Within the Cosmos EcoSystem, Atom’s Surge and Abrupt Reversal Underscored Both the Strengh of Institutional Demand and the Fragality of Short-Term Rallies. Traders Now View $ 4.55 As Critical Support and Are Watching for Wather Renewed Buying Interest Can Overcome Resistance and Reestable Upward Momentum.
Technical Indicators Breakdown
- Atom Climbs from $ 4.36 to $ 4.55 for A 4% Gain with $ 0.34 Trading Range Between $ 4.32 Lows and $ 4.67 Highs.
- Key Breakout Occurs at 13:00 on 8 August WHEN ATOM EXPLODES THRUGH $ 4.55 Resistance, Spiking To $ 4.65 On Massive 2.19 Million Unit Volume.
- Trading Volume Crushes 24-Hour Average of 1.35 Million, Confirming High-Volume Resistance Break.
- Strong Support Emerges at $ 4.46 WHERE Buyers Step in Repeatedly.
- The $ 4.55- $ 4.67 Zone Now Acts As Critical Resistance After Failed Breakout Attempt.
- Final 60 minutes from 8 august 14:39 to 15:38 See Dramatic Reversal, Initial Climbing from $ 4.58 to $ 4.60 Session High.
- Heavy Selling Hits During 15: 03-15: 07 Period When Atom Breaks $ 4.58 Support.
- Trading Dies in Final Minutes with Zero Volume at 15:38.
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