Share this article
ATOM Surges 5% Before Forming Bearish Head-and-Shoulders Pattern
Cosmos token shows mixed signals as Circle prepares for $7.2B NYSE valuation amid regulatory developments.
Jun 3, 2025, 3:09 p.m.
Make us preferred on Google
What to know:
- ATOM shows bullish momentum amid market volatility, surging 5% before experiencing a head-and-shoulders pattern reversal in recent trading.
- Support at $4.44 was tested multiple times but ultimately failed to hold, indicating potential further downside if bearish momentum continues.
Geopolitical tensions and evolving trade policies continue to shape cryptocurrency markets as stablecoin giant Circle prepares for its landmark NYSE listing. \
The company behind USDC has increased both share count and price range, signaling strong institutional confidence in the stablecoin sector despite ongoing regulatory uncertainty.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Meanwhile, industry associations have issued a joint statement urging lawmakers to maintain focus on creating comprehensive stablecoin oversight without getting sidetracked by peripheral issues.
ATOM has showed mixed signals to the news, rising by 5% before forming a bearish pattern known as a head-and-shoulders pattern.
Technical Analysis Highlights
- ATOM-USD demonstrated significant bullish momentum over 24 hours, surging from $4.307 to $4.532, representing a 5.22% range.
- Price action formed a clear uptrend with higher lows and higher highs between 20:00-01:00, breaking through key resistance at $4.42 with above-average volume (689K-1055K).
- Strong support established at $4.43-$4.44 following the breakout.
- In the last hour, ATOM-USD formed a head-and-shoulders pattern with decreasing volume on rebounds, suggesting weakening bullish momentum.
- Support at $4.44 was tested multiple times but ultimately failed to hold, indicating potential further downside if bearish momentum continues.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin pulls back to as low as $81,000 as horrendous day continues
The world's largest cryptocurrency has shed nearly $10,000 over the past 24 hours, now threatening to take out its recent November low just under $81,000.
What to know:
- Bitcoin (BTC) continued to quickly decline in the U.S. evening hours on Thursday, the price falling all the way to $81,000.
- More than $777 million in leveraged crypto long positions were liquidated in the space of one hour.
- Comments from President Trump caused a surge in Polymarket betting odds on Kevin Warsh becoming the next Fed chair, perhaps disappointing some traders who hoped the more dovish Rick Rieder would be selected.
Top Stories
