Bitcoin SV regained the $191-mark but decreasing volatility indicated a period of consolidation at the press time price level. Augur formed a descending triangle as the price dropped from the $34.45-resistance, while a bear market for NANO made a northbound move difficult for the buying side.
Bitcoin SV [BSV]
A hike above the $191.7-resistance was followed by a sharp fall, but Bitcoin SV maintained itself above the aforementioned level, at the time of writing. The RSI, which reversed after noting overbought conditions, settled above the 40-mark. Since the Bollinger Bands were converging, lower volatility disallowed huge price swings and some consolidation can be expected moving forward.
A dip below the press time level would highlight the support at $172.9 – an area that has seen equilibrium between the buyers and sellers. The next target for the bulls would be a move above the $227.4-resistance.
Augur’s steady recovery since the broader market pullback in late-February was halted at the $34.54-resistance. The OBV formed lower highs and moved in tandem with the price as sellers controlled the price. In this process, REP formed a descending triangle on the 4-hour timeframe. Support levels resided at $27.8 and $25.3 in the event of a breakdown.
However, a bullish crossover in the MACD suggested that the buyers could hold on to the lower trendline in the short-term. An upwards breakout from the sloping upper trendline could also see the price head towards the $32.43-resistance.
Nano’s channel between $5.96 and $5.07 represented a stalemate between the buyers and sellers, but a breakdown eventually took place on the charts. The lack of buying presence in the market was a downside as bulls attempted to regain lost ground. Further bearish conditions were highlighted by the fact that the 200-SMA (green) moved above the 50-SMA (blue), a development that usually sees domination of sellers.
The Awesome Oscillator pictured that momentum moved back and forth and did not rest with either side for extended durations. The last few sessions, in particular, saw choppy movement on the AO. The Stochastic RSI moved in the overbought region and a reversal would work against a bullish prediction for NANO in the short-term.