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Binance Coin, Tezos, Cosmos Price Analysis: 16 September

Source: BNB/UDST on TradingView

Binance Coin reached a local high of $33.38 and subsequently retraced some gains. It was valued at $26.88 at the time of writing and was trading right beneath the 23.6% retracement of its recent surge.

RSI showed a value of 45 as the indicator broke beneath neutral 50. This could indicate another drop in price before BNB has a chance to consolidate.

Fibonacci Retracement tool showed that the next level of importance is the 61.8% retracement at $23.88, which also coincides with support at $24.2. In summary, it is likely that BNB finds strong support in the $24 zone if it drops past the 50% retracement level at $25.7.

Tezos [XTZ]

Binance Coin, Tezos, Cosmos Price Analysis: 16 September

Source: XTZ/USD on TradingView

XTZ lost the level of support at $2.56 as it continued its downward trend. XTZ attempted to break upward past the region of resistance at $2.6 but failed, and looked headed lower down.

Aroon Indicator showed a resumption in an XTZ downtrend as Aroon Down (blue) crossed above Aroon Up (orange). The next level of support for the asset lies at $2.24.

Analysis of XTZ on the longer time-frames also showed bearishness. This confluence across multiple time-frames strengthened the argument for the coin seeing a further downside.

In a development that could end XTZ’s woes in the market, the French multinational investment bank Societe Generale’s tech startup Societe Generale – Forge selected Tezos for its Central Bank Digital Currency (CBDC).

Cosmos [ATOM]

Binance Coin, Tezos, Cosmos Price Analysis: 16 September

Source: ATOM/USD on TradingView

ATOM has been trading, for the most part, between the levels of resistance at $5.45 and support at $4.81. Unless either level is flipped, ATOM can be assumed to continue to range between the levels.

Hence, in the coming days, $4.8 can be considered as a good area to buy ATOM while $5.45 represents a good selling opportunity.

In the near-term, Awesome Oscillator showed momentum rising in favor of the bears. The bearish momentum could force ATOM towards support in the coming trading sessions.

Source
AMB Crypto

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