ATOM Holds Steady at $4.20 Support as Bitcoin Dominates Market Momentum

Published at:2025年07月04日 09:29
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The altcoin market remained subdued on Thursday as Bitcoin and Ethereum spearheaded the crypto rally. While significant liquidity flowed into Bitcoin short positions near record highs, Cosmos (ATOM) consolidated its position, finding strong support at the $4.20 level. Historical patterns suggest altcoins typically see muted price action during Bitcoin rallies, indicating ATOM could be poised for upward movement once Bitcoin's momentum slows.

Technical analysis reveals ATOM/USD traded between $4.09 and $4.26 from July 2 (16:00) to July 3 (15:00), marking a 4% price swing. Notably, substantial buy volume appeared at the $4.20 support level during the 13:00 trading session on July 3. While ATOM briefly touched $4.26 at 07:00, it failed to maintain momentum above the $4.25 resistance level.

The final trading hour (14:24-15:23) saw ATOM decline slightly from $4.24 to $4.21 (0.73% drop), with a sharp but brief selloff pushing the price to $4.19 before recovering. The closing minutes showed price stabilization around $4.21, suggesting possible short-term equilibrium.

The CD20 Index exhibited 2% volatility during the same period, peaking at $1,811.11 before settling at $1,793.55. After establishing $1,780 as early support, the index rallied strongly through July 3's morning session with notable momentum between 09:00-14:00, before profit-taking emerged in the final hour.
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Cryptocurrency Market Analysis Bitcoin Altcoins Technical Indicators