Large holders of Cosmos’ ATOM token have stacked their bets, with data showing whales now hold 65.4% long positions. The move comes as ATOM trades near a critical support level at $1.93, a zone that could decide the token’s direction over the next month.
Whale positioning and the $1.93 floor
Whale accumulation has pushed the long-side ratio to 65.4% of open interest, according to exchange data. That concentration means a relatively small group of traders is betting on a rebound from current prices. The $1.93 level has held repeatedly in recent sessions, acting as a floor that buyers have defended. A sustained break below that mark — especially under $1.89 — could trigger a sharper selloff, analysts warn.
What a 13% rally would look like
If the support holds, ATOM could see a 13% price increase to $2.20 within 30 days. That projection is based on the pattern of whale accumulation at similar support levels in the past. The potential upside would bring ATOM back to a price range that hasn’t been seen since late March. Traders are watching volume closely; a pickup in buying activity at $1.93 would strengthen the case for the rally.
Risks if support breaks
The flip side is a drop below $1.89. That could trigger stop-loss orders from whales themselves, accelerating the decline. In that scenario, the next major support is unclear — the facts don’t specify a lower level. The concentrated long positioning also raises the risk of a cascading liquidation if the price moves against those bets.
ATOM, the native token of the Cosmos blockchain, has been under pressure in the broader crypto market downturn. The current test of $1.93 comes after weeks of low volatility. Whale activity often precedes directional moves, but the size of the long position means the market is leaning heavily on a single scenario. Whether that bet pays off will likely be decided in the coming days.
The next key data point will be the price action at the weekly close. If $1.93 holds as support, the path to $2.20 remains open. If it fails, the whale-heavy long side could turn into a drag on the token.
