Analysis
Ethereum Classic, Binance Coin, Tezos Price Analysis: 29 August
Ethereum Classic and Binance Coin remained consolidated. While, ETC faced rejection at $65.48 and dipped 2.3% over the last 24 hours, BNB also struggled to move prices above the $485 mark. Lastly, Tezos recorded a substantial surge of 12.7% since yesterday and achieved a multi-month high.
Ethereum Classic (ETC)
ETC/USD, TradingView
Ethereum Classic dipped by 2.3% over the last 24 hours and was trading at $63.88. If it continues to face rejection at the $65.48, the coin could drop to the $58.09 price floor.
Buying pressure struggled to revive itself, as the Relative Strength Index just managed to move upwards from the 50-mark. The green bars on MACD‘s histogram on signaled that the bulls were losing ground.
The same reading was demonstrated on the Awesome Oscillator as a series of red signal bars were halted by one session in green. If the consolidation breaks and ETC travels upward and topples over $65.48, it might meet with resistance at $71.96 and then at $76.12.
Binance Coin (BNB)
BNB/USD, TradingView
BNB only gained 0.1% over the last 24 hours, and continued to exhibit a restricted price action. The expected range for BNB’s price movement remained at $485.61 and $460.42. A continued range-bound movement longer than a few more trading sessions could push prices to find support on $460.42.
At press time, the coin was trading at $485.61. Bollinger Bands, in agreement with the above statement also flashed tightening of the bands.
Buying pressure declined as the Relative Strength Index threatened to fall below the half-line. Awesome Oscillator also noted red signal bars confirming that prices could turn bearish over the upcoming sessions.
On the flipside, resistance lay at the $517.02 level.
Tezos (XTZ)
XTZ/USD, TradingView
XTZ rallied 12.7% over the last 24 hours and was priced at $6.12. The last time that price of Tezos was at this level, was on 16 May. Ergo, this marked a multi-month high for the alt.
Toppling over the current price, XTZ could retest its next resistance of $6.37, which XTZ broke over, last on 14 May. Moreover, XTZ’s p
arameters remained bullish on the 4-hour chart.The asset was spotted inside the overbought zone as seen on the Relative Strength Index. MACD displayed enlarged green bars on its histogram while Awesome Oscillator depicted amplified green signal bars.
Chances of a price correction remain in the picture, in the case of which, the support zone for XTZ stood at $5.08 and then at $4.31.
