ATOM Plunges 5% as Altcoins Bleed – Will Key Support Hold?
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Crypto markets got a reality check today as ATOM joins the altcoin rout—down 5% in a sea of red. The Interchain token now teeters at a make-or-break support level.
Blood in the streets for alts
No safe havens here—ATOM’s drop mirrors sector-wide weakness. Traders eye that critical support like hawks circling prey. Break below? Brace for more pain.
Finance veterans shrug: ‘Another day, another crypto correction.’ Meanwhile, true believers accumulate—because what’s a 5% dip when you’ve diamond-handed through 80% crashes?
Technical Analysis Highlights
- 24-Hour Movement: ATOM fell 5.1% from $5.08 to $4.82 with a total range of $0.35 (6.8%).
- Peak Liquidation: July 23, 09:00-14:00 UTC saw volumes surge to 7.73M, well above the 1.11M average.
- Critical Support: $4.78-$4.88 zone showing accumulation on elevated volume.
- Intermediate Resistance: $4.98-$5.00 level faced multiple rejections.
- Institutional Pressure: Sustained breakdown below $5.00 signals distribution activity.
- Intraday Volatility: July 23, 13:10-14:09 UTC saw a sharp dip from $4.90 to $4.78, followed by a rebound to $4.81.
- Rebound Weakness: Recovery to $4.81 occurred on declining volume, suggesting possible exhaustion.
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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