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Market recovers; Ethereum Classic {ETC}, Cardano {ADA}, Cosmos {ATOM} price readings and subsequent future


Ethereum Classic is ranked at #16, below DASH on coinmarketcap. The price surged by 5.70% in the course of the past 24-hours. The trading volume recorded is $830.508 million, while the supply has 112,964,626 ETC coins in play. The total market cap of Ethereum Classic is $828.671 million. As for now, ETC is priced at $7.34.

The daily RSI is presently at 73.09 which indicates that ETC is being overbought. This points to bulls being back in action, even though the Ichimoku Cloud remains red. The MACD line has also been rising high above the signal line since before this month. Resistance may be felt if the altcoin manages to inch close to the $7.646 mark. Support exists near the $5.39. Ethereum Classic will continue moving forward till sellers bring the pace down.

Cardano is ranked at #12, beneath Stellar and Monero in the market. The price climbed by 6.30% which brought ADA all the way up to $0.051708. The trading volume recorded is $110.255 million, whereas the supply has 25,927,070,538 ADA coins involved. The total market cap of Cardano is $1.34 billion.

Cardano is also being impacted by fresh sellers. The daily RSI is at 51.54 and is moving in an upward direction. By the end of next week, ADA may scale to venture beyond $0.055. The cloud [between lead 1 and lead 2] is crimson, indicating that bearish pressure hasn’t disappeared completely. The MACD line is soaring above the signal line, which points to momentum being influenced by buyers.

In the case of Cosmos [positioned at #21 ahead of Maker], the price ascended at a rate of 2.54%. ATOM is priced at $2.71, with the supply having 190,688,439 ATOM coins in circulation. The total market cap is about to cross the $516 million mark. The trading volume recorded stands at $105.378 million.

ATOM is being influenced by bears. The RSI is at 30.34 and may sink soon, which will bring Cosmos in oversold territory. The current bar for the MACD table is green, which points to a very slight chance of a trend reversal sometime in the near future. If there is a bigger drop tomorrow, ATOM will test the support level at $2.59.

Charts consulted on tradingview: ADA/USD, ETC/USD, ATOM/USDT 

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.