On the contrary, if the price turns down and breaks below the 20-day EMA ($36.30)
the next stop could be the 50-day SMA ($32.97).
A break below this support will suggest that the bulls are losing their grip.
Although bulls pushed the price above $45.01
The first support on the downside is the 20-EMA
A strong bounce off this support will suggest the sentiment remains positive.
The bulls then try to propel the price above $46.17.
Alternatively, a break below the 20-EMA could pull the price down to the 50-SMA.
If this support cracks, the pullback may deepen to $33.
Cosmos (ATOM) successfully held the breakout level at $32.32 on Sep. 29,
which suggests that sentiment remains positive and bulls are buying on dips.
The bulls pushed the price above the 20-day EMA ($35.88) on Sept. 30
but the momentum has failed to pick up.
This suggests that bears have not thrown in the towel yet and are selling on rallies.
The bulls will have to thrust and sustain the price above $44.80
to signal the resumption of the uptrend.
The long wick on today’s candlestick suggests selling at higher levels.
If the price turns down from the current level and breaks below the 20-day EMA,
the bears will make one more attempt to sink the price below $32.32.
If they succeed, the ATOM/USDT
pair could drop to the 50-day SMA ($28.54).
The pair turned down from the resistance line of the symmetrical triangle,
indicating that bears are defending this level aggressively.
If the price rebounds off the moving averages,
the bulls will make one more attempt
to push the price above the triangle.
If they succeed, the pair could rally to $44.80 and then to the psychological level at $50.
A break and close above this level could open the doors
for an up-move toward the pattern target at $57.61.
On the contrary, if the price slips below the moving averages
the next stop could be the support line.
If this level cracks, the pair could drop to $28.83 and then to $24.50.
Tezos (XTZ) rebounded off the 50-day SMA ($5.50) on Sept. 29
and the momentum picked up after the bulls pushed the price above
the 20-day EMA ($6.40) on Sept. 30.
Sustained buying pushed the price above the overhead resistance zone at $8.03 to $8.42
Both moving averages are sloping up and the RSI is near the overbought territory,
indicating that bulls are in control.
If bulls sustain the price above $8.42, it will suggest the start of a new uptrend.
Contrary to this assumption,
if bears pull and sustain the price below $8.03,
it will suggest profit-booking at higher levels
The XTZ/USDT pair could then drop to the 20-day EMA.
The 4-hour chart shows the formation of a symmetrical triangle pattern,
which usually acts as a continuation pattern.
The bulls pushed the price above the triangle
and successfully held the breakout level,
Suspension related links https://www.huobi.sk/support/en-us/detail/24885304529470
Are the Luna withdrawals resumed ?
Not yet. Huobi Global will suspend its deposit & withdrawal at 07:00 am on Sept. 9
Huobi Global will suspend Luna deposit & withdrawal at 07:00 am on Sept. 9
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