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Binance Coin, Cosmos, Stacks Price Analysis: 08 April

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Source: Pixabay

Binance Coin could be temporarily rebuffed at a region of supply in the hours to come, and Cosmos climbed back above an important level at $19.8. Finally, Stacks retraced a good portion of its recent gains.

Binance Coin [BNB]

Binance Coin, Cosmos, Stacks Price Analysis: 08 April

Source: BNB/USDT on TradingView

The Awesome Oscillator formed a series of lower highs over the past few days even as the price formed higher highs and climbed towards $420. This development was followed by a correction across the market, and BNB also dropped to retest the $355-level as support before bouncing back towards $386 and past it.

However, the move past $386 lacked trading volume. The region of supply at $400-$415 might not budge for a few more days, and a revisit to $370-$385 would be a buying opportunity. However, if Bitcoin sees another wave of selling and drops below $56k, BNB could dip to $350.

Cosmos [ATOM]

Binance Coin, Cosmos, Stacks Price Analysis: 08 April

Source: ATOM/USD on TradingView

Over the past month, ATOM has found strong support at $18, and more demand at $16.2. The OBV told a story of steady demand in recent weeks for ATOM. The noticeable uptrend on the OBV pointed to buying volume being steadily greater than selling volume. The most recent correction saw a blip on the OBV, and the RSI also slipped below 50.

However, the price climbed past the $19.8-level and could retest it as support in the coming hours. The next levels of resistance can be found at $21.34 and $23.38.

Stacks [STX]

Binance Coin, Cosmos, Stacks Price Analysis: 08 April

Source: STX/USDT on TradingView

Using the Fibonacci retracement tool for STX’s recent surge, some levels of prominence were highlighted. The price found support at the 61.8% retracement level at $1.57, following which it soon bounced to trade above the 50% retracement level. The MACD was on the verge of climbing above zero, but the trading volume had receded.

In February, STX surged from $0.44 to $1.12 in early March and spent most of the month consolidating between $1.12 and $1.34. A similar consolidation for STX could play out in the weeks to come.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.