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bitcoin SV technical analysis

Binance Coin, Bitcoin SV, Cardano Technical Analysis on 7th September 2020

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The cryptocurrency market posted a significant recovery shortly after the weekend bloodshed catapulting the collective market cap to $328 billion. During this time, as several altcoins bounced off close to crucial resistance levels, Bitcoin‘s dominance dropped by 57.6%.

Binance Coin [BNB]

binance coin technical analysis

After posting gains of 17.76% over the last 24-hours, Binance Coin [BNB] was priced at $22.40. At the time of writing, BNB registered a market cap of $3.235 billion and a 24-hour trading volume of $743.20 million.

BNB appeared to be heading for an uptrend targeting the overhead resistance of $24.73 while its value found critical support at $19.48. The red candles of Awesome Oscillator depicted the presence of bearishness in the market. The Chaikin Money Flow value above the zero-line, however, indicated resuming strength in the market.

Bitcoin SV [BSV]

bitcoin sv technical analysis

Bitcoin SV [BSV] underwent a positive price change of 4.44% over the past day, driving its price to $168.32 as it held a market cap of $3.115 billion and a 24-hour trading volume of $1.38 billion.

While the Klinger Oscillator appeared to be heading for a bullish crossover following the latest uptick, however, MACD hinted in no such signs of a comeback. This essentially signaled that the bears have been aggressively defending the resistance area of $202.54.

If the bulls fail to push the price above, BSV could retrace its steps back to the support level of $147.4.

Cardano [ADA]

cardano technical analysis

Cardano [ADA] has breached important support after the subsequent pullbacks and recovery attempts to regain strength appeared to have stalled.

The dotted markers of Parabolic SAR have been resisting a potential upward breach for almost a week. The RSI on the extreme negative end depicted a sentiment of intense sell-off in the ADA market. In case of a trend reversal, a bullish target of the recent breached level of $0.107. If bears continue to have an upper hand, ADA could potentially drop close to its support of $0.0773.

Chainlink, Bitcoin Cash, Bitcoin SV Technical Analysis on 1st September 2020

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Despite Bitcoin‘s dormant price action, several altcoins have pushed ahead reclaiming overhead resistances. The collective cryptocurrency market cap stood at $386.7 billion while Bitcoin’s dominance declined to 56.8%.

Chainlink [LINK]

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Chainlink [LINK] trading close to its psychological support of $18 despite a decline of 3.94% over the past 24-hours which positioned the coin’s price at $16.09 after. LINK held a market cap of $5.63 billion and a 24-hour trading volume of $1.565 billion.

The dotted markers of Parabolic SAR aligned below the LINK candles resisted a downside breakout of the coin exhibiting bullish projections. Ths RSI above the 50-median neutral zone indicated a sentiment of buying pressure in the LINK market. The technicals resumed a positive trend as the support point for the coin stood firm at $10.11.

Bitcoin Cash [BCH]

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Bitcoin Cash [BCH] broke out to the downside as it weakened below the previous support level of $280. The forked coin was down by 1.08% over the past day which drove its price to $275.19 at the time of writing. It registered a market cap of $5.092 billion and a 24-hour trading volume of $1.244 billion.

However, BCH appeared to be heading for a break of this level. This was also evidenced by the shift to bullish momentum by the Awesome Oscillator which depicted by green closing candles.

Failure to rally the price back above $280 could cause the coin to fall back towards its immediate support level of $218.7.

Bitcoin SV [BSV]

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Bitcoin SV has been in a downtrend for the most part of August. However, the ninth-largest cryptocurrency was up 1.26% over the past 24-hours which pushed its price to $197.37. At the time of writing, it recorded a market cap of $3.65 billion and a 24-hour trading volume of $660 million.

The latest upward price action could have potentially propelled the much-needed bullish momentum for the coin as both Klinger Oscillator, as well as MACD, appeared to be heading for a bullish crossover after a month.

If BSV gains the necessary momentum and breaches the key level of $200, it could encounter another resistance at $225. But if the bears continue to have an upper hand, BSV could drop to $168 level of support.

XRP, Bitcoin SV, EOS Technical Analysis on 24rd August 2020

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The brakes are being pulled on the altcoin rally at the moment. After close to 3 weeks of the bullish rally, the majority of the digital assets were exhibiting strong corrections on the market charts. While the correction has slowed down over the past day, the trend is still significantly bearish at the moment.XRP, Bitcoin SV, EOS technical analysis is given below

XRP hourly chart

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Since 17th August, XRP has declined dropped from $0.32 to its present valuation at $0.290. Although the price has undergone a minor hike of 3.07% in the past day, it remains fairly in the bullish realm. XRP market capitalization jumped above $13.02 billion after topping off near $14 billion a few days back. With a trading volume of $1.24 billion, XRP maintained its position as the 3rd largest digital asset.

Now, market indicators suggested that XRP might be entering a period of another bullish rally. Chaikin Money Flow or CMF suggested that the token had high capital inflows than outflows as MACD suggested that a bullish crossover in the charts. Bollinger Bands for XRP suggested a neutral trend as the bands appeared to be parallel to each other.

Bitcoin SV hourly chart

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For Bitcoin SV, it is currently near its resistance at $199. The last time BSV was valued below this range was on 27th July. However, the asset’s inability to maintained a price higher than $217 has now entertained a huge retracement. However, Bitcoin SV had registered a gain of 3.10 percent over the past day.

Bitcoin SV is currently the 8th largest digital asset with a market capitalization of $3.68 billion. Analyzing the Relative Strength Index or RSI for BSV, it can be suggested that buying pressure is slowly taking over in the markets, as Bollinger Bands exhibited more volatility going forward.

BSV’s Parabolic SAR was bullish as well with the dotted indicator firmly under the candlesticks.

EOS hourly chart

EOS tro

12th ranked EOS continued to have a poor 2020. The token that was once ranked 4th in the charts currently exhibited a low market cap of $3.17 billion at the moment. For EOS, markets have remained rather neutral with the occasional surge and spike in prices. Although the token has dipped over the past week, it continues to exhibited tepid volatility levels as the valuation continued to be under the resistance of $3.40.

Aroon indicator suggested that the price may under another bearish onslaught as the bearish market completed a reversal over the bullish market. However, Awesome Oscillator pictured positive momentum as the candlesticks turned green at the end of the indicator.

XRP, Chainlink, Bitcoin SV Technical Analysis on 19th August 2020

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The cryptocurrency market underwent a correction driving the collective market cap to face a major retracement all the way back to $370 billion. After a short-lived tryst above the $12k-mark, Bitcoin was back below the crucial key level. Following suit were several major altcoins such as XRP, bitcoin SV( BSV )& chainlink that recorded minor falls as a result.

XRP

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Despite pushing back and reclaiming the third spot in the cryptocurrency ladder, XRP has so far failed to post impressive gains. The development activity in the XRP network has been decreasing since the beginning of the year.

At the time of writing, XRP was valued at $0.295 after a major decline of 6.95% over a period of 24-hours. Its market cap was observed to be at $13.28 billion while recording a 24-hour trading volume of $2.08 billion.

Awesome indicator signaled a bullish trend with its red closing lines depicting the outflow of money from the XRP market. The Chaikin Money Flow was also observed to be struggling in the bullish region.

Chainlink

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Chainlink has been one of the best performing tokens among the top 10 cryptocurrencies by market cap. However, the latest downturn drove the coin to breach the previously established support level.

LINK was down by 8.78% over the last 24-hours driving the token’s price all the way to $15.67. At the of writing, the sixth-largest crypto registered a market cap of $5.48 billion and a 24-hour trading volume of $2.93 billion.

The MACD indicator appeared to undergo a bearish crossover in the near-term. A potential bearish trend was also observed by the Klinger Oscillator.

Bitcoin SV [BSV]

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BSV was the third-largest loser among the top 10 market cap cryptocurrencies in the latest drop. The contentious fork coin hovered below at a key price level of $230. BSV appeared to be struggling to revive its valuation despite developments such as the digital currency security and asset management firm, CYBAVO announcing support for the coin.

At press time, BSV’s market cap stood at $3.90 billion and was priced at $211.3. Over the last 24-hours, the coin fell by 8.36% which drove its trading volume to $950 million.

The dotted markers below the BSV price candles appeared to be supporting the coin’s price from a further dip. The Relative Strength Index [RSI] dropped below the 50-median line depicting a sentiment of selling pressure among the traders in the BSV market.