Tezos, Binance Coin, Cosmos Price Movement Analysis for 2nd September, 2021

 81 Interactions,  2 Today

As Bitcoin and Ethereum continued to rise in value, the altcoin market followed suit. Tezos, which is in the middle of developing news about Golden Goals releasing NFTs on the cryptocurrency, has seen advances while aiming for its immediate resistance level of $6.05.

Binance Coin increased by 5.2 percent after breaking through the critical support level of $460.42. Finally, Cosmos rose 7.3 percent as it proceeded to retest its all-time high.

Tezos [XTZ]

After Bitcoin broke through the $50k barrier, XTZ surged up the charts. XTZ gained 4.1 percent in the last 24 hours and was trading at $5.36. It began when it hit a week low of $5.08. The coin’s immediate resistance was at its all-time high of $6.05. To retest the $6.05 level, the coin must remain above the $5.08 price level.

The technical forecast for XTZ appeared to be optimistic. Green signal bars were recorded by the Awesome Oscillator. On the Chaikin Money Flow, capital inflows increased. Finally, the Relative Strength Index broke beyond the 50-point barrier on the charts.

See also  Why traders claim that Ethereum will see a 'rinse' pullback after breaking its two-year peak

A price pullback would mean XTZ landing on the $5.08 price floor. This level has acted as a crucial point for propelling uptrends in the past. Failing to rest on the aforementioned support line would push XTZ to $4.30.

Binance Coin [BNB]

Tezos, Binance Coin and COSMOS Price Analysis: 2 September

BNB/USD, TradingView

Binance Coin has increased by 5.2 percent in the last 24 hours and is now worth $490.80. Binance Coin remained above its critical support level of $460.42, having not fallen below that level in almost a week. BNB faces an overhead barrier of $517.01.

Capital inflows increased significantly on the Chaikin Money Flow indicator, with the signal last hanging around this level on August 23. Buying pressure increased as the Relative Strength Index reached 60. The Awesome Oscillator displayed green signal bars.

BNB might decline to $460.42 and then to $433.54 as a result of negative price activity.

Cosmos [ATOM]

Tezos, Binance Coin and COSMOS Price Analysis: 2 September

ATOM/USD, TradingView

Cosmos had gained 7.3 percent in the last 24 hours and was trading at $24.24. This rise occurred following the unveiling of Cosmos’ cross-chain bridges for ETH and BTC. A sustained rally may send the coin back to its all-time high price of $25.57. The coin’s parameters suggested a good price movement.

See also  Defi boom, rising TVL, and new alliances underpin Ren's 100-per-cent rally

Despite a drop in buying activity, the Relative Strength Index remained optimistic, hovering near the 60-point threshold. To confirm bullishness, the Awesome Oscillator flashed green signal bars.

Finally, the Bollinger Bands started to converge slightly. As a result, market volatility may diminish in the future sessions.

If the price of Cosmos falls, it may find support at $21.81 and subsequently at $19.62.

Subscribe to our newsletter


Leave a Reply

Your email address will not be published. Required fields are marked *