Most of the altcoins were consolidating after following in the footsteps of Bitcoin and Ethereum. Ethereum Classic lost 1.8% and fell below its support level of $ 56.89. Amid new regulatory concerns, Binance Coin was trading sideways down 1.7% and was slowly approaching its one-week low price mark.
Cosmos, however, rebounded and secured an all-time high in the last 24 hours. Recently, the Cosmos network noticed a growing interest driven by the functionality of the Blockchain Communications Protocol.
Ethereum Classic (ETC)
Classic Ethereum was trading sideways and noted a slight decline of 1.8% in the last 24 hours. The altcoin was trading at $ 56.89, right after it broke below its $ 58.09 support line. A further drop below its current price level would push the token to trade close to $ 50.11, a level it last touched almost over a month ago.
Technicians indicated a downtrend in the market. On the four-hour chart, the price of the coin was seen below its 20-SMA, a reading that indicated that the momentum belonged to the sellers. In correspondence with it, the Relative Strength Index It was seen below the half line. MACD it also continued to show short red histograms.
Chaikin money flow, on the contrary, it remained above the median line; an indication of higher capital inflows. If the buying pressure increases, ETC would rise to $ 65.48 and then to $ 70.60.
Binance Coin (BNB)
Binance Coin decreased 1.7% over the past day and moved sideways. The altcoin was trading at $ 412.3. With continued consolidation, the downtrend could strengthen and the coin would trade near its one-week low price level of $ 386.8.
At the four-hour 20-SMA, the price of BNB saw below it, suggesting that the price momentum was with the sellers in the market. MACD shows red bars on the histogram. the Relative Strength Index it was still parked below the 50 mark, an indication of increased selling pressure.
the Awesome oscillator it was flashing red signal bars. If the selling pressure eases, the currency’s prices could rise and attempt to break down its immediate resistance at $ 433.5. Additional price caps were set at $ 460.4 and $ 517.
Cosmos skyrocketed 9.1% over the last day and was priced at $ 40.03. Its immediate resistance mark stood at $ 40.07.
MACD showed green bars on its histogram after a bullish crossover. the Relative Strength Index it hovered above the 60 mark and could head into overbought territory. Awesome oscillator Growing green signal bars blinked, suggesting that the bulls would push prices during the upcoming trading sessions.
A price pullback could drag altcoin prices to its immediate support level of $ 35.01. The other levels of support were located at $ 29.22 and at $ 25.54. Dropping below which Cosmos could trade close to $ 21.50.
This is a machine translation of our English version.