ATOM
The token for the cosmos ecosystem, experienced volatility over the last 24 hours, with the price of 2.76% and topped to $ 4,327.
Strong resistance arose around this level where high trading volume created a rejection zone that prevented further progress, according to Coindesk Research’s technical analysis model.
The Cosmos ecosystem, a network of many independent blockchains, continues to expand its transverse chain features through the Eureka upgrade that kicked in April, enabling trouble-free communication with Ethereum Blockchain.
Institutional developments, including BitBank’s nuclear list of promotional fee structures and Canary Capital’s exploration of a Cosmos-supported ETF, also provided support.
Technical analysis
- Support established around $ 4.21, with price stabilization of nearly $ 4,233 in the consolidation phase.
- Significant recovery of the hour occurred between 07: 33-08: 02, with the price rolling to $ 4,239 on a strong volume of over 16,000 units.
- New support level formed for $ 4,237 after 1.4% jump from the hour low.
CD20 demonstrated remarkable volatility during the 24-hour period and reached a highlight of 1751,049, before falling back, with a total interval of 22,573 points (1.3%).
After establishing a 24-hour high within 22:00 hours on June 8, the CD20 entered a consolidation phase, which retracted approx. 50% of its gains while maintaining support above the 1730 level, suggesting potential stabilization after recent momentum upwards.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
