ATOM Experiences Sharp Volatility in 4% Recovery Rally

ATOM traded within volatile range between $4.64 and $4.85 on Monday.

The move comes among a backdrop of bullish sentiment after bitcoin (BTC) rose to fresh record highs of $123,000 on Monday.

ATOM price action shows classic V-shaped recovery, dropping to $4.64 before rallying hard to the $4.85 level of resistance.

It's worth noting that ATOM remains far lower than the previous bull market when it topped $44.55 in a classic "altcoin season."

In the short term, a break above $5.46 would indicate a bullish break out with upside targets expanding to $6.20 and $7.75.

Technical Indicators Summary

• MACD posts positive crossover signaling bullish momentum shift.
• RSI hits 62.40 showing moderate buying without overbought signals.
• Volume spikes past 40,000 units confirm institutional participation.
• Support zone locks in at $4.64-$4.67 with heavy volume backing.
• Resistance forms near $4.85-$4.86 where selling pressure builds.
• Higher lows pattern around $4.67-$4.68 confirms uptrend continuation.

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.