CryptocurrencyPrice Analysis

Solana, Cosmos, Bitcoin Cash Price Analysis – 12 September

Ethereum and Bitcoin appear to consolidate on their price charts. However, some alternative coins experienced dissociated moves as the past 24 hours observed retracements. Bitcoin Cash plunged by 4.4% to trade near its 1-month low. Also, Cosmos dropped 4.3%, moving to its closest support at $25.54. Meanwhile, Solana cools off its upsurges, trading in sideways at the moment.

Bitcoin Cash (BCH)

Bitcoin Cash trades near $643.51 after losing 4.4% of its price. That had the alt hovering around its 1-month low levels. If BCH sees further plummets, it will move beneath the price floor at $623.37. Though the token declined in its daily charts, price indicators did not print a similar outlook.

MACD showed emerging green sign bars on the histogram following a bullish cross. That suggests that BCH might recover in the incoming sessions. The Awesome Oscillator displayed green bars too. Chaikin Money Flow climbed beyond the half-line, suggesting increased capital inflows.

If Bitcoin Cash finds the strength to rise, it may overcome the resistance level above $672.68 before revisiting the 1-week zone at $705.02. Maintaining its actions above this price ceiling might see BCH testing it’s multi-month high at $789.57.

Solana (SOL)

SOL saw price consolidation and plunged slightly by 1.7% in the past 24 hours. The token’s upsurges paused after the charts noted decreased buying pressure. If the upcoming sessions witness SOL trading in sideways, the alt might drop towards the immediate support at $163.74, then to the 1-month lows at $125.95. Solana’s additional support lies at $93.20.

Remember, SOL’s technical parameters depict negative actions. According to the four-hour chart, the token trades under the 20 Simple Moving Average. That showed that the asset’s momentum favored sellers. The MACD showcased red bars on the histogram.

The Awesome Oscillator printed a sell gesture with red sign bars. Also, the RSI noted declined buy pressure as it threatens to drop under the half-line. However, the token has chances to surge towards its ATH at $214.96.

Cosmos (ATOM)

ATOM retraced by 4.3% on its price charts to stand at $29.08. The token’s surges appear to standstill after increasing since 6 September to break past consecutive resistance zones. For now, Cosmos has its closest support at $25.54, then the 1-weel low at $21.50.

If ATOM fails to hold above the earlier-mentioned support, the asset might drop towards the 3-week low at $18. The following support stands at $13.80 (month’s low). Meanwhile, technical indicators suggest that Cosmos could see recoveries.

MACD experienced a bullish cross and depicted green bars on the histogram. Also, the Awesome Oscillator displayed green sign bars following the previous health sessions. Bollinger Bands indicates low volatility in the coming sessions as they converge. If the correct surging catalysts emerge, ATOM might retry to topple $29.22, its 5-month high.

You can share the news.

Related Articles


What is Annual Percentage Yield (APY) and How Does It Work in Crypto?

Introduction Annual Percentage Yield (APY) in crypto refers to the attention or...

EconomyPrice Analysis

ECB Policymakers Consider a Mild Rate Increase

Preliminary conversations indicate a shortage of enthusiasm for a subsequent hike of...

Crypto / Forex Broker ReviewsCryptocurrency

ArgoTrade Review – Your global trading partner?

What is ArgoTrade ArgoTrade currently offers online trading using CFDs via reliable...