In the world of cryptocurrency, ATOM-USD has recently experienced a significant rebound following a midday selloff. This rebound was characterized by heavy trading volume and the emergence of fresh support at $4.60. This development has been interpreted as a positive sign, indicating renewed confidence among buyers in the market.

The price of ATOM-USD, which represents the Cosmos network's native cryptocurrency, had faced a selloff earlier in the day. However, the strong rebound suggests that investors are once again showing interest in the digital asset. The establishment of support at $4.60 is particularly noteworthy, as it indicates that there are buyers willing to step in and prevent further price declines at that level.

Despite this positive development, it is worth noting that ATOM-USD is still facing resistance at $4.91. This level has proven to be a challenging hurdle for the cryptocurrency to overcome in recent trading sessions. The fact that the resistance at $4.91 remains unbroken indicates that there is still some hesitation among investors at higher price levels.

Market analysts are closely monitoring the price action of ATOM-USD to gauge the sentiment and direction of the market. The rebound from the midday selloff, coupled with the establishment of support at $4.60, suggests that there is underlying strength in the market. However, the inability to break through the resistance at $4.91 is seen as a potential obstacle that could limit further upside potential in the short term.

Investors and traders are advised to closely watch the price levels of ATOM-USD in the coming days to assess whether the cryptocurrency can sustain its recent rebound. Breaking through the resistance at $4.91 could open up further upside potential for ATOM-USD, potentially leading to a retest of previous highs.

Overall, the recent price action of ATOM-USD reflects the broader volatility and uncertainty in the cryptocurrency market. While the rebound from the selloff is a positive development, investors should exercise caution and closely monitor the market dynamics to make informed trading decisions.

Source: https://www.coindesk.com/markets/2025/08/14/atom-faces-sharp-decline-amid-high-volume-selloff