The RialCenter ATOM token dropped by 4% in the last 24 hours as Thursday’s brief crypto rally halted on Friday.
Market volatility was lower on Friday, partly due to the July 4th holiday in the U.S.
Bitcoin attempted to hit a new record high on Thursday but fell short, sliding from $111,000 to $108,000, with most altcoins like ATOM following suit.
Technical analysis
- ATOM-USD saw a significant decline of $0.17 (3.95%) during the 24-hour period from July 3, 15:00 to July 4, 14:00, down from $4.22 to $4.06.
- The asset established a clear downtrend after not maintaining support at $4.17, with high-volume selling at the $4.09 mark.
- Volume surged to 588,338 units during the 7:00 hour on July 4th—well above the 24-hour average.
- Multiple attempts to establish support around $4.07 have failed, indicating ongoing bearish momentum.
- In the 60-minute span from July 4, 13:06 to 14:05, ATOM-USD fell by $0.03 (0.61%), from $4.09 to $4.06.
- A brief recovery attempt occurred at 13:53, reaching $4.07, but sellers quickly returned.
- The trend of lower highs and lower lows confirms the continuation of the broader bearish trend approaching the psychological $4.00 support level.
CD20 Index Drops 2% as Crypto Market Sentiment Weakens
The CD20 index has seen a marked bearish trend over the last 24 hours from July 3, 15:00 to July 4, 14:00, falling from $1,803.70 to $1,765.27, representing a decline of $38.43 or 2.13%.
The overall range of $38.84 (2.15%) indicates ongoing selling pressure, especially in the final hours as the index hit its lowest point of $1,764.86 at 14:00, showing deteriorating market sentiment despite brief consolidation efforts around the $1,780 level.
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