Cosmos, Elrond Price Movement Analysis for 20th March, 2021

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Cosmos bulls kept the price above the $21.4 support mark. Finally, EGLD passed within a descending triangle, but an upward escape in the coming sessions would make the pattern null.

Cosmos [ATOM]

Source: ATOM/USD, TradingView

Despite choppy action below the $24.3 resistance mark, Cosmos held above a high support level of $21.4. The aforementioned support level was crucial for the bulls to retain after they recovered lost territory for the first time following the wider market pullback in late February.

The RSI surged in the overbought zone as ATOM tried to push through $24.5 resistance, but reversed direction as the market settled on the 4-hour timeline. The bulls’ next goal was $26.29-resistance. The MACD line dropped below the Signal line, indicating the market’s bearish mood. If the price slips below the press time help, the next safety at $19.8 will be illuminated.

 

 

Elrond [ELGD]

Source: EGLD/USD, TradingView

On Elrond’s 4-hour scale, a declining triangle formed after the market formed lower highs after breaking through the $160 barrier, while the lows remained relatively stable at $128.1 support.

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The Amazing Oscillator was bullish-neutral, while the CMF stood well above the half-way level and displayed major capital inflows into the cryptocurrency. A break over the upper trendline will present the next resistance level at $152.8. A deviation from this trend, on the other hand, will most likely result in EGLD sliding below the $100-support mark.

 

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