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ATOM Consolidates After Strong Rally, Testing Key Resistance
The move comes as bitcoin formed a new record high above $112,000 on Thursday.
Jul 10, 2025, 3:40 p.m.
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What to know:
- ATOM surged 3.90% to $4.36 before consolidating at $4.33, breaking the key $4.31 resistance with strong bullish momentum on July 9.
- Trading volume spiked 165% above daily average, confirming optimism as price consolidates between $4.31-$4.35 with declining volume signaling potential breakout setup.
- Technical action shows $4.31-$4.35 range forming, with $4.34 rejection suggesting traders and institutions are reassessing before the next directional move.
ATOM surged 3.90% over the past 24 hours, climbing from $4.20 to $4.36 peak before settling at $4.33. The range reflects strong momentum as bulls push through critical $4.31 resistance at 19:00 GMT on July 9.
Volume spiked 165% above the daily average, confirming bullish sentiment. Price now consolidates between $4.31-$4.35 as traders digest gains. Declining volume signals potential breakout preparation.
STORY CONTINUES BELOW
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The price action comes amid a backdrop of optimism after bitcoin rallied to a new record high on Thursday before consolidating lower.
Technical analysis highlights
- $4.31 resistance breaks on exceptional 1,974,095-unit volume surge.
- Healthy $4.31-$4.35 consolidation follows initial breakout momentum.
- $4.34 rejection in final hour confirms resistance ceiling, retreat to $4.32.
- Volume decline during consolidation suggests next directional move preparation.
- $4.31-$4.34 range trading expected as institutions reassess positioning.
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.
