ATOM Soars 10% Driven by Hackmos and Futures

In a turbulent crypto market, the cryptocurrency of the "Internet of Blockchains" defies the bearish trend with a notable rally and encouraging technical signals. Is this the start of a new bullish phase for ATOM?

The ATOM cryptocurrency, the native token of the Cosmos blockchain, became the undisputed star of the day in the cryptoasset market. Ignoring the overall volatility, ATOM posted an impressive 10.37% gain over the past 24 hours, leading the CoinMarketCap top 100 by market capitalization and closing the session at $4.65. This move confirmed key support and is now testing crucial resistance, while interest in the futures market and news from the ecosystem add fuel to the upside potential.

The establishment of the new floor at $4.16 represents a higher low compared to the previous floor of $3.36 recorded on March 11. / TradingView

Support Confirmed, Resistance in Sight

ATOM's recent surge firmly validated the support level at $4.16. However, the cryptocurrency now faces an immediate obstacle: the dynamic resistance formed by the 50-period exponential moving average (EMA50), currently located at $4.69.

Despite the increase, trading volume during the bullish move on the Binance exchange barely exceeded the 25-day average. This indicates that, while there were active buyers, the strength was not sufficient to decisively break the aforementioned resistance of $4.69 on the first attempt.

Signs of a Possible End of the Downtrend

Although ATOM technically remains bearish by trading below the key moving averages (EMA50 and EMA200), several indicators suggest a possible exhaustion of selling pressure.

First, the establishment of the new floor at $4.16 represents a higher low compared to the previous floor of $3.36 recorded on March 11. This sequence of higher lows is a classic sign that the downtrend may be losing steam.

Second, the Bull Bear Power indicator showed a significant pullback from the bears, reaching a reading of -0.481, the highest in the last five days. This suggests a decrease in the prevailing selling force.

To confirm a stronger trend reversal, ATOM needs to break above the 50 EMA barrier at $4.69. A successful breakout would open the door to the next major resistance, formed by the 200 EMA, located at $5.62.

The Futures Market Is Betting on ATOM

A key factor behind the recent momentum appears to be the growing interest in the ATOM derivatives market. According to data from Coinglass, total Open Interest in ATOM futures saw a sharp increase of 20.99% in the last 24 hours, reaching $108.12 million.

This is the highest Open Interest recorded for ATOM in the last 10 days. This increase suggests that greater liquidity is entering the market at these price levels, which could potentially act as additional support and underpin future upside if positive sentiment continues.

Cosmos Ecosystem Drives Innovation with Hackmos 2025

In parallel with the price action, the Cosmos ecosystem continues to foster development and innovation. Recently, the third edition of Hackmos, the central hackathon of the Cosmoverse Builders Track, was announced.

Co-organized with DoraHacks, Hackmos 2025 will begin remotely on October 1 and culminate with an in-person event at Cosmoverse Split (October 30 - November 1). The event seeks to attract global talent, with a special focus on the Balkans, and will feature various thematic tracks, including artificial intelligence, Bitcoin, interoperability, and real-world asset (RWA) tokenization.

This initiative underscores the project's commitment to expanding its "Internet of Blockchains" through the flexible and customizable Cosmos Stack, which allows for the construction of everything from CosmWasm and EVM applications to proprietary chains connected through the IBC interoperability protocol. Events like this typically generate optimism in the community and can positively influence long-term sentiment toward the token.

ATOM is at an interesting technical crossroads. While the overall trend remains cautious below key EMAs, recent strength, the formation of a higher bottom, easing bearish pressure, and a notable increase in futures interest paint a potentially optimistic picture. Breaking above $4.69 will be the next major challenge for bulls, as the underlying ecosystem continues to demonstrate vitality and growth.

Disclaimer: This article is for informational and educational purposes only. It does not constitute financial advice or a recommendation to buy or sell. Investing in cryptocurrencies carries a high level of risk and may result in the loss of your investment.of the total invested capital. Conduct your own research before making any investment decisions.