Connect with us

Analysis

Bitcoin Cash, Cosmos, Maker Price Analysis: 23 September

Published

on

Source - Pexels

Leading cryptos such as Bitcoin and Ethereum gained over the last 24 hours. Many altcoins also logged some form of price appreciation.

COSMOS, however, hiked by 23.1% and maintained its uptrend. It could push the altcoin towards a fresh all-time high on the charts.

Bitcoin Cash appreciated by 4.5% and eyed its immediate resistance while Maker flashed gains of 5.1%.

Bitcoin Cash [BCH]

Bitcoin Cash, COSMOS and Maker Price Analysis: 23 September

BCH/USD, TradingView

Bitcoin Cash has flashed signs of recovery post the 19 September crash. Over the last 24 hours, it rose by 4.5% and was trading at $547.56. The coin was seen approaching its next resistance line of $578.56 and upon maintaining the uptrend, Bitcoin Cash can go back to trading at $608.74.

On the 4-hour chart, Bitcoin Cash was seen trading above its 20-SMA line. This implied that market momentum was with the buyers. 

The key indicators of the altcoin pointed to signs of revival. The MACD pictured green histograms after undergoing a bullish crossover. The Relative Strength Index was seen above the oversold territory as buying strength increased over the past few trading sessions. Finally, the Awesome Oscillator noted green signal bars too. 

In case buying pressure dips again, the immediate support levels for the coin would stand at $524.73, and then at $504.63. Both these price floors mark multi-month lows for the altcoin. 

Cosmos [ATOM]

Bitcoin Cash, COSMOS and Maker Price Analysis: 23 September

COSMOS/USD, TradingView

Amidst many altcoins moving north slowly, COSMOS observed a rally of 23.1% over the last 24 hours. The altcoin was trading at $41.83. If the token continues to be bullish, then it could retest its all-time high of $44.70. Based on the key parameters, the altcoin saw bullish trading across the market.

The price of COSMOS was seen above the four-hour 20-SMA, suggesting that price momentum favoured buyers. 

Green histograms were seen on the MACD. Relative Strength Index was positioned above the half-line into the bullish zone – An indication of strengthening buying pressure. Awesome Oscillator flashed green signal bars too. 

COSMOS could witness a corrective pullback, in case of which the nearest support line would be at $38.38. Falling below the aforementioned price level would drag down COSMOS to $31.47 – The altcoin’s weekly low. The other price floor rested at $26.94. 

Maker [MKR]

Bitcoin Cash, COSMOS and Maker Price Analysis: 23 September

MKR/USD, TradingView

Maker appreciated by 6% over the last 24 hours and was valued at $2562.86. If the altcoin maintains its uptrend, then it can topple its $2695 resistance. Other price ceilings stood at Maker’s weekly high of $3050.24 and then at $3366. The technical outlook for Maker demonstrated positive price action in the market. 

With buying pressure resurfacing the market, the Relative Strength Index could break above the half-line into the bullish territory. MACD flashed green histograms. Bollinger Bands were constricted, a reading that signified low price volatility over the upcoming trading sessions. 

In case Maker loses momentum and dips below its press time price level, the first support for the price lay at $2284.51. The aforementioned price level would also mark the multi-month low for the altcoin.

Where to Invest?

Subscribe to our newsletter

Anushmita is a full-time journalist at AMBCrypto with a background in Mass Communication. She is inclined towards writing about the socio-political aspects of the crypto market and also has an interest in analyzing market trends.