Binance Coin could be momentarily rebuffed at a supply area in the coming hours, though Cosmos has risen up above a critical amount at $19.8. Finally, Stacks reversed a significant amount of its previous gains.
Binance Coin [BNB]
Over the last few days, the Awesome Oscillator has formed a sequence of lower lows whilst the stock has formed higher highs and risen towards $420. This was followed by a market reversal, and BNB fell to retest the $355-level as support before bouncing back towards and above it.
However, the jump over $386 was accompanied by a lack of trading activity. The supply zone of $400-$415 could not budge for a few more days, and a return to $370-$385 will be a purchasing opportunity. However, if Bitcoin experiences another wave of selling and falls below $56,000, BNB could fall to $350.
ATOM has found solid support at $18 and increased demand at $16.2 in the last month. The OBV reported consistent demand for ATOM in recent weeks. The apparent upward trend in the OBV indicated that purchasing volume was consistently greater than sale volume. The most recent correction resulted in a blip on the OBV, and the RSI fell below 50.
However, the price has risen above $19.8 and can retest it as support in the coming hours. The next peaks of resistance are $21.34 and $23.38.
Any degrees of popularity were illustrated using the Fibonacci retracement technique for STX’s latest spike. The stock sought support at the 61.8 percent retracement level of $1.57, and it quickly rebounded to trade above the 50 percent retracement level. The MACD was on the brink of crossing the zero line, but trading volume had dropped.
STX jumped from $0.44 to $1.12 in early March, and spent the rest of the month consolidating between $1.12 and $1.34. STX could see a similar convergence in the coming weeks.
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