ATOM saw an 8% surge from $4.49 to $4.84 between 12 August 11:00 and 13 August 10:00, supported by heavy trading volume of over 2 million units, signalling strong institutional interest. The bullish momentum persisted in the final hour of trading, peaking at $4.85 before consolidating to $4.83, with significant volume confirmation reinforcing the breakout above the $4.78 resistance. Strong support has been established at $4.65, setting the stage for a possible move toward the $4.90–$5.00 range.
During the last hour, ATOM rose from $4.82 to $4.85—a 0.62% gain—before easing slightly to $4.83, a 0.21% dip from the session high. Notably, the $4.85 level was tested and validated by a 24,467-unit volume spike at 10:20, followed by profit-taking that led to a measured pullback. Subsequent volume spikes of 47,638 units at 10:44 and 59,892 units at 10:48 during recovery attempts underscored continued institutional engagement, even in consolidation phases.
The closing minutes saw minimal activity, indicating a brief pause in trading momentum. However, the combination of sustained buying interest, rising support levels, and decisive resistance breaches suggests ATOM is well-positioned for continued upside. With volume dynamics confirming bullish intent, the asset remains on track for a potential challenge of the $4.90–$5.00 price target in the near term.
The move comes as bitcoin dominance dipped below 60% for the first time since January, demonstrating relative strength in the altcoin sector. However, if bitcoin can break above a $124,000 and form a new record high, altcoins may slip as capital rotates back to BTC.
Key Technical Indicators
- ATOM exhibited a compelling bullish trajectory with an aggregate range of $0.38 (8.52%) throughout the 23-hour trading period.
- Robust support established at $4.65 with substantial volume confirmation during the 02:00 recovery phase.
- Resistance materialised proximate to $4.78 where price action initially encountered resistance at 20:00 before achieving upward breakthrough.
- Notable momentum acceleration occurred during concluding hours, particularly at 09:00 with exceptional volume significantly surpassing the 24-hour average of 1,148,473 units.
- Technical breakout substantiated by sustained volume expansion and ascending support formation.
- Successful examination of $4.85 resistance zone with robust volume confirmation preceding profit-taking pressures.
- Volume surges at critical inflection points confirming institutional participation within the consolidation phase.
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.
