XRP, Ethereum Classic, Cosmos Price Analysis: 16 September
Most altcoins in the market, at press time, were trading sideways with minor gains and minor losses. The likes of XRP and Ethereum Classic rose on their respective charts.
XRP secured gains of 3.3% while eyeing a fresh one-week high. Ethereum Classic hiked by 3.6% after toppling its $58.09 resistance. COSMOS, on the other hand, took a pause after registering an all-time high over the last 72 hours.
XRP saw signs of consolidation as it secured minor gains of 3.3% over the last 24 hours. The altcoin was trading at $1.11. Overhead resistance for XRP stood at $1.20 and touching the aforementioned price ceiling would make XRP register a one-week high. Additional price resistance levels stood at $1.13 and at its multi-month high of $1.39. Despite XRP’s sideways trading, the price of the altcoin was well above its 20-SMA.
Corresponding to the 20-SMA, the Relative Strength Index stood above the half-line as buying strength remained positive. The MACD continued to note short green histograms. The Awesome Oscillator flashed one red signal bar as the last few trading sessions were in the red.
If XRP continues to trade sideways following a dip in buying strength, the price could move south. The immediate support level stood at its one-week low of $1.06.
Ethereum Classic [ETC]
Following wider market consolidation, Ethereum Classic also saw lateral movement on its four-hour chart. Over the last 24 hours, ETC gained by 3.6% and was priced at $59.14.
On the four-hour chart, ETC’s price was parked above its 20-SMA line, an indication that the price momentum was inclined to favor the buyers in the market. In accordance with the same, the Relative Strength Index was seen above the 50-mark.
Capital inflows were positive as the Chaikin Money flow was positioned above the mid-line. Finally, the MACD noted short-sized green histograms.
With more consolidation, Ethereum Classic will find support at $58.09 and then at $50.11.
COSMOS declined by 1.80% in 24 hours and was priced at $33.85. While it rallied significantly over the past one week, sell-offs soon came through.
The immediate support level for the altcoin lay at $31.47. If the crypto fails to trade above the same, it could fall to $26.94 and then revisit its one-week low of $18.71.
The MACD pictured red histograms after a bearish crossover. The Bollinger Bands converged slightly, indicating that price volatility would remain low over the next few trading sessions. The Relative Strength Index was still parked above 50 but it threatened to fall below it.
On the flip side, if buying pressure picks up and continues to be in bullish territory, COSMOS could revisit its all-time high of $38.38.