ATOM Plunges 5% Despite Recovery Attempts Amid Bearish Pressure

Technical Analysis Shows Mixed SignalsATOM drops 4.51% over 24 hours ending July 29 11:00, sliding from $4.88 to $4.66 as recovery bids fail.Cosmos ecosystem crosses 100 live chains on MapOfZones while XRP integration progresses via Cosmos SDK and IBC protocols.ShadeX debuts as Cosmos' first encrypted money market, delivering institutional-grade privacy through CosmosSDK and CosmWasm tech.Market Performance Analysis

ATOM battles volatile sessions with resistance capped at $4.95 before overnight support emerges near $4.56. The token shows fight with recovery drives toward $4.77, yet selling waves push close to $4.66, signaling persistent bear grip short-term.

Key Technical IndicatorsResistance holds firm at $4.95 in opening with heavy volume hitting 1,889,637 units.Support emerges around $4.56 during overnight sessions.Trading range spans $0.37, marking 7.58% intraday volatility.Recovery bid launches from 05:00, driving prices toward $4.77.Selling surge at 10:51 brings exceptional volume of 193,762 units.Sharp 1.87% single-minute drop establishes session support at $4.63.Recovery momentum breaks multiple resistance barriers.Close near session peaks signals fresh buying appetite.

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