Cardano, COSMOS, Polkadot Price Analysis: 29 August

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Bitcoin and Ethereum showed signs of consolidation as BTC stood above the $48K mark and ETH struggled to take prices higher than $3200. Following the same trend, altcoins like Cardano and Polkadot observed restricted price movements.

DOT eyed the immediate support level of $24.05 as buyers quit the market. Lastly, COSMOS rose up by 9% and aimed at retesting the $23.29 price ceiling.

Cardano (ADA)

ADA/USD ^[1], TradingView

ADA’s prices have remained at the same level since yesterday, as it was trading at $2.89. It displayed range-bound movement, with chances of prices hovering between $2.93 and $2.66, next.

Technical indicators pointed towards bullish tendencies in the market. An upward push could cause ADA to retest the $2.93 price ceiling.

Buying strength shot up as Relative Strength Index stood at 60. Green bars on MACD’s histogram showed signs of growth, which was an indication of regaining bullish strength.

Bollinger Bands showed slight divergence, signaling high chances of market volatility. In case ADA ^[2] dips below the current price level, the immediate price floor stood at $2.66 and then at $2.39.

COSMOS (ATOM)

ATOM/USD ^[3], TradingView

COSMOS ^[4] was trading at $21.69 after it noted a sharp 9% jump over the last 24 hours. The alt had just toppled over its immediate resistance of $21.50. Continued northbound movement could push it to retest

Cardano, COSMOS, Polkadot Price Analysis: 29 August

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