ATOM Slips 5% as Bitcoin Regains Dominance After Altcoin Season

ATOM, the native token of the Cosmos network, tumbled 5% in the past 24 hours as Bitcoin regained momentum, pulling market attention back to large-cap assets. The move comes after last week’s “altcoin season,” where ATOM and other mid-cap tokens outperformed BTC in a broad rally.

ATOM fell from $5.26 to $4.98 between July 21 at 11:00 and July 22 at 10:00 UTC, facing heavy resistance at $5.32 during the 15:00 trading hour. Trading volumes spiked to 1.79 million units by 16:00 as sellers overwhelmed buy orders, leading to a clear technical breakdown.

The token briefly stabilized near $4.97 overnight, where renewed buying interest pushed ATOM into a narrow $4.95–$5.05 consolidation range. A modest bounce saw prices recover 0.4% from $4.97 to $4.99 in the hour ending 10:06 UTC, though traders remain cautious about follow-through momentum.

This week’s price action underscores a shift in market focus back to Bitcoin, which is clawing back gains after altcoins dominated headlines last week.

Key Technical Indicators

Price Action: ATOM fell 5% from $5.26 to $4.98 in 23 hours.Resistance Zone: Heavy selling at $5.25–$5.32 capped upside moves.Support Zone: Stabilized briefly at $4.93–$4.97 before small rebound.Volume Spikes: 1.79M units traded during 16:00 selloff; 1.55M units on support test at $4.97.Consolidation Range: Prices hovering in a tight $4.95–$5.05 band.Recovery Signs: Higher low formation from $4.93 to $4.98 suggests possible accumulation.

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