Ethereum Classic, Binance Coin, Cosmos Price Analysis: September 19
Most 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 at a loss of 1.7% and closing in on its one-week low price.
Cosmos, however, rallied around and reached an all-time high in the past 24 hours. Recently, the Cosmos network has noted a growing interest fueled by the functionality of the Inter-Blockchain communication protocol.
Ethereum Classic (ETC)
Ethereum Classic was trading sideways and noted a slight decline of 1.8% in the past 24 hours. The altcoin was trading at $ 56.89, right after it fell below its support line of $ 58.09. A further drop below its current price point would push the token to trade near $ 50.11, a level it last reached almost over a month ago.
Technical data indicated a downturn in the market. On the four-hour chart, the coin’s price was seen below its 20-SMA, a reading which indicated that the momentum lay with sellers. In correspondence with the same, the relative strength index was seen below the half line. MACD also continued to flash short red histograms.
Chaikin Money Flow, conversely, remained above the midline; an indication of the increase in capital inflows. If the buying pressure increases, the ETC would climb to $ 65.48 and then to $ 70.60.
Binance Coin (BNB)
Binance Coin fell 1.7% in 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.
On the four-hour 20-SMA, BNB price was seen below, suggesting the price momentum was with sellers in the market. MACD displays red bars on the histogram. The relative strength index was still parked below the 50 mark, an indication of increased selling pressure.
The Awesome oscillator flashed red signal bars. If the selling pressure eases, the coin’s prices could rise and attempt to reverse its immediate resistance of $ 433.5. The additional price caps were $ 460.4 and $ 517.
Cosmos climbed 9.1% in the last day and was priced at $ 40.03. His immediate resistance mark stood at $ 40.07.
MACD was showing green bars on its histogram after a bullish cross. The relative strength index was above the 60 mark and could be heading into overbought territory. Awesome oscillator flashed increasing green signal bars suggesting that the bulls would drive prices over the next few trading sessions.
A price pullback could push altcoin prices down to its immediate support level of $ 35.01. Other support levels stood at $ 29.22 and $ 25.54. Below which Cosmos could trade near $ 21.50.