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By Oliver Knight, CD Analytics
Updated Jun 13, 2025, 4:12 p.m. Published Jun 13, 2025, 4:12 p.m.
- ATOM experienced a 9% decline over 24 hours, dropping from $4.43 to a low of $4.02 before finding support
- It fell in line with the wider market, which suffered after Israel began a bombing campaign to Iran.
The cryptocurrency ATOM has experienced significant volatility amid growing concerns about the situation in the middle east.
Israel started a bombing campaign in Iran on Friday morning, spurring a market wide sell off.
STORY CONTINUES BELOW
After falling 9.25% from $4.43 to a low of $4.02, ATOM found critical support around the $4.04 level before stabilizing near $4.08.
While ATOM and other altcoins have faced pressure during this cycle, Bitcoin has positioned itself alongside gold as a potential safe haven, surging 54% over the past 12 months to reach a $2.08T market capitalization.
Technical analysis
- Significant selling pressure occurred between 19:00-00:00, with volume peaking at 2.8M during the 02:00 hour as price found support near $4.04.
- A recovery attempt emerged from the 03:00 hour, with price stabilizing around $4.08, forming a potential support zone between $4.04-$4.07 confirmed by above-average volume.
- ATOM broke through the $4.08 resistance level with substantial volume (37,524) at 13:31, followed by continued momentum pushing prices to $4.09.
- Trading volume peaked during the 14:00 candle (73,628), confirming strong buyer interest at these levels.
- A new support zone has established between $4.08-$4.09, suggesting the potential formation of a short-term bottom.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
