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A downside breakout is envisaged at the $13 level

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Weak upward movement in the ATOM market

ATOMUSD Price Insights – October 08

When corn If the $10 support level is broken, the price may be exposed to the lowest support levels at $8 and $7. If the support level holds at $10, the price may rise to the resistance at $13 and further increase in bull pressure could push the price towards the $14 and $16 levels.

ATOM / USD . Market

Main levels:

Resistance Levels: $13, $14, $16

Support levels: $10, $8, $7

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ATOMUSD Long-Term Trend: Bearish

Atomosd Bearish on the daily chart. Atom formed a bearish chart pattern on the daily chart called the double top. We notice this at the $16 resistance level. Sellers dominated the market by forming bearish engulfing candles. The crypto is breaking the previous support levels of $14 and $13. The downtrend extends to the $10 support level where it is currently falling.

The price is trading below the two Asian moving averages as evidence of the bearish movement. The fast moving average (9 periods) is lower than the slow moving average (21 period EMA) and separate. When Cosmos breaks the $10 support level, the price may be exposed to the $8 and $7 support levels. If the support level holds at $10, the price may rise to the resistance at $13 and further increase in bull pressure could push the price towards the $14 and $16 levels.

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ATOMUSD Medium Term Trend: Bearish

The ATOMUSD indicator on the 4 hour chart is bearish. When Cosmos fended off the $16 resistance level and was unable to increase further, the bears gained momentum at the $16 level. Sellers pressure pushed the price to a low of $13. The level just mentioned is holding coupled with low momentum from the sellers to push the price lower. The range movement started within the $13 and $11 levels.

The two exponential moving averages are intertwined with each other and the currency pair is hovering over 21 periods of the exponential moving average and 9 periods of the moving average indicating that a range movement is in progress. RSI 14 period is at 55 levels and the signal lines do not show a specific direction.

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Blockchain

Binance US cancels trading fees on Ethereum

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Binance US announced that it has extended its “no-fee pricing model” to Ether (ETH) is effective immediately.

According to the announcement, users can now freely trade Four Ether spot market pairs: ETH/USD, ETH/USDT, ETH/USDC and ETH/BUSD.

Effective immediately, the American exchange has also eliminated gas fees on all Ethereum transactions made through the “buy and sell” feature on their website.

in June, Binance US followed suit Robinhood, which pioneered commission-free cryptocurrency trading in 2018, is powered by remove all bitcoin (BTC) Spot market trading fees for BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD.

Binance US operates as an independent entity in the United States but still bears the same name and logo as global cryptocurrency exchange Binance. As the name suggests, the US-based Binance exchange primarily caters to US cryptocurrency traders.

According to Binance US President and CEO Brian Schroder, the removal of fees on both BTC and ETH cements the company’s position as “the low-fee leader in crypto.” He added that “now, more than ever, it is critical that platforms work with users’ interests first”.

Related: Why the fight for low or no transaction fees is really important

Exchanges play an important role in cryptocurrency adoption. Facilitating fee-free transfers encourages users to engage more with digital assets. If it were costly to send money from one point to another, millions of potential users would avoid or limit their use of the technology.

Exchanges that avoid charging fees can still earn from fee-free transactions through spreads. In trading, spread is known as the difference between the bid (sell) price and the ask (buy) price of a trading pair.