19Most alternative tokens consolidated after following the price actions by Ethereum and Bitcoin. Ethereum Classic trades under the support zone at $56.89 after losing 1.8% of its value. Meanwhile, Binance Coin dropped 1.7% amid new regulatory concerns. That had BNB inching near its 1-week low.
However, the past 24 hours had Cosmos rallying to secure an ATH. The altcoin received increased interest propelled by the Inter-Blockchain Communication capability.
Ethereum Classic (ETC)
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Ethereum Classic traded sideways and recorded a brief plunge in the past 24 hours, dropping 1.8%. That had ETC hovering at $56.89 after breaking beneath the support zone around $58.09. Increased plummets from the asset’s current level might push ETH down towards $50.11. Remember, the alt has never hit that price area for over month one.
Technicals indicators displayed market bearishness. On the 4hr chart, ETC’s price remained beneath the 20 Simple Moving Average, indicating sellers’ dominance. Meanwhile, the RSI stood under the half-line as MACD showed red histograms.
Conversely, Chaikin Money Flow maintained beyond the mid-line, suggesting amplified capital inflows. In magnified buying pressure, ETH will rise towards $65.48, then $70.60.
Binance Coin (BNB)
Binance Coin traded laterally in the past day, plunging 1.7% towards near $412.3. If the consolidation persists, the downswing will strengthen, pushing BNB towards its 1-week low at $386.8. Meanwhile, the asset’s price remained below the 20 Simple Moving Average on the 4hr chart.
MACD shows a red histogram as the Relative Strength Index still settles beneath the 50 levels, confirming magnified selling pressure. Meanwhile, the Awesome Oscillator flashed red sign bars. If the next session sees magnified selling pressure BNB’s value might rise to test the nearest resistance at $433.5. Additional price ceilings stand at $460.4, then $517.
Cosmos surged 9.1% in the past day to trade at $40.03. For now, it has its closest resistance at $40.07. MACD experienced a bullish cross, displaying green bars. The RSI stays over the 60-level and might move towards the overbought zone.
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The Awesome Oscillator showed emerging green sign bars indicating bulls’ dominance in the coming sessions. Price pullbacks might drag Cosmos down to the closest support at $35.01. Other supports settle at $29.22, then $25.54. If ATOM declined beneath these levels, the alt might hover around $21.50.