ATOM Eyes Bullish Breakout as Bitcoin Hits Record Highs

Cosmos (ATOM) traded between $4.64 and $4.85 on Monday, reflecting increased volatility amid renewed bullish momentum in the broader crypto market. The move coincided with Bitcoin (BTC) surging to a new all-time high of $123,000, fueling optimism across altcoins.

ATOM displayed a classic V-shaped recovery, rebounding sharply from the $4.64 support level to test resistance at $4.85. Despite the recent gains, ATOM remains significantly below its previous cycle peak of $44.55, set during the last major altcoin season.

Technical indicators suggest growing upside potential. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, indicating a shift in momentum. Relative Strength Index (RSI) climbed to 62.40, reflecting moderate buying interest without nearing overbought conditions. Notably, volume surged above 40,000 units, hinting at possible institutional accumulation.

Support is now firmly established between $4.64 and $4.67, reinforced by high trading volume. Resistance remains at $4.85 to $4.86, where selling pressure has previously capped gains. A confirmed breakout above $5.46 could mark the beginning of a broader rally, with potential upside targets at $6.20 and $7.75.

Chart patterns also highlight higher lows near the $4.67 region, supporting a continuation of the current uptrend. As Bitcoin leads the charge, market participants are closely watching whether ATOM can follow with a breakout of its own.