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By Oliver Knight, CD Analytics
Updated Jul 2, 2025, 2:51 p.m. Published Jul 2, 2025, 2:51 p.m.
- ATOM demonstrated remarkable recovery from 1 July 15:00 to 2 July 14:00, bouncing from $3.91 to close at $4.03, representing a 3.05% gain amid broader market uncertainty.
- The overall range of $0.13 (3.24%) indicates muted volatility, with price establishing a new resistance zone around $4.04, confirmed by multiple tests during the 11:00 and 13:00 sessions on 2 July, suggesting potential for continued upward momentum if this level is breached.
Cryptocurrency markets remain in a lull on Wednesday as the majority of assets continue to trade within a tight range.
Cosmos’ ATOM token is no exception, it is currently trading around $4.00 and looks poised to make a continued move to the upside.
STORY CONTINUES BELOW
ATOM’s V-shaped recovery pattern formed during the 24-hour period from 1 July 15:00 to 2 July 14:00 suggests interest remains strong despite broader uncertainties affecting traditional markets.
Technical analysis
- The price action formed a clear V-shaped recovery pattern, with strong volume support emerging at the $3.91 level during the 2 July 01:00 session, where buying pressure exceeded the 24-hour volume average of 425,000 units.
- The overall range of $0.13 (3.24%) indicates moderate volatility, with price establishing a new resistance zone around $4.04, confirmed by multiple tests during the 11:00 and 13:00 sessions on 2 July, suggesting potential for continued upward momentum if this level is breached.
- During the 60-minute period from 2 July 13:06 to 14:05, ATOM-USD displayed a bullish trajectory, rising from $4.02 to $4.03, representing a 0.32% gain.
- The price action formed a cup-like pattern with a notable dip to $4.01 around 13:24 before staging a recovery.
- Volume significantly increased in the final minutes of the session, with particularly strong buying pressure emerging at 13:58-13:59 (33,000+ units combined), establishing a new support level at $4.02.
- The price successfully broke through the $4.03 resistance in the final minutes, with three consecutive higher highs from 14:03 to 14:05, suggesting potential continuation of the upward momentum.
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.
