.png)
2 months ago
6
Coinbase adds dYdX native network integration while geopolitical tensions drive investors toward decentralized alternatives.
Updated Aug 7, 2025, 4:34 p.m. Published Aug 7, 2025, 4:34 p.m.
Technical Analysis Shows Strong Bullish Momentum
ATOM posts volatile trading in the final hour from 13:06 to 14:05 on August 7. Price climbs from $4.41 to $4.43 peak at 13:40 before sliding back to $4.41. Net decline hits 0.02%. Volume spikes to 37,187 units at 13:39, pushing price above $4.42 resistance. New resistance forms at $4.43. Selling pressure emerges as volume fades toward session close. Price consolidates around $4.41 support.
Key Market Movements and Economic Factors
- ATOM jumps 3.40% in 23-hour window from August 6 15:00 to August 7 14:00. Breaks key resistance on heavy volume.
- Coinbase lists COSMOSDYDX token on roadmap. Exchange announces direct dYdX support on native Cosmos network.
- Cronos rockets 76% over 30 days. Protocol upgrades and ETF speculation with Crypto.com drive gains.
Cosmos Ecosystem Gains Momentum Amid Market Shifts
Cosmos ecosystem accelerates as ATOM climbs from $4.26 to $4.41. Trading volume surges. Coinbase embraces Cosmos projects including dYdX native integration. Rally coincides with broader market rotation. Investors pivot to decentralized alternatives amid trade tensions. Monetary policy uncertainty weighs on traditional markets.
Technical Indicators Signal Continued Upside
- ATOM delivers strong bullish momentum over 23 hours from August 6 15:00 to August 7 14:00. Price surges from $4.26 to $4.41, posting 3.40% gain with $0.18 range.
- Token establishes critical support at $4.29. High-volume confirmation during multiple retests.
- Resistance emerges at $4.34 before decisive break at 10:00 session. Volume hits exceptional 1,695,921 units.
- Breakout above $4.34 resistance backed by volume exceeding 24-hour average of 674,298 units.
- Technical structure stays constructive. Higher lows pattern intact. Momentum indicators support further upside.
- Breakout targets $4.43 Fibonacci extension level.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
More For You
NEAR Protocol Posts 5% Recovery Amid Volatility Surge
NEAR Protocol surged 5% in a 24-hour rally before late-session volatility erased gains, as institutional flows met resistance amid shifting macroeconomic conditions.
What to know:
- NEAR Protocol rallied 5% from $2.47 to $2.60 between 6 August 15:00 and 7 August 14:00 UTC, driven by institutional accumulation and strong volume amid global macro uncertainty.
- A final-hour volatility spike from 13:06 to 14:05 UTC erased earlier gains, as NEAR tested $2.61 before selling pressure pushed it back to $2.60, forming fresh support near $2.598.
- Broader economic tensions and shifting monetary policy continue to influence crypto flows, with NEAR’s late-session retracement reflecting profit-taking and potential institutional distribution.
