The ATOM token of Cosmos rallied 8.3% in 24 hours, with a 91.9% surge in daily trading volume and an 11.3% increase in Open Interest. The negative funding rate indicated the market was betting on a price reversal, with short positions willing to pay a fee to keep their positions open. The technical structure shows a bullish moving average crossover and price climbing above the averages, but the $1.50 resistance zone should cap further gains. The 4-hour chart reveals the token trading within the golden pocket between $1.46 and $1.53, with a liquidity sweep of short liquidations around $1.50, suggesting likely bearish continuation.
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