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Bitcoin SV [BSV] Price Analysis: Bears continue to dominate coin market

Biraajmaan Tamuly



Bitcoin Cash [BCH] Price Analysis: Bears take charge as bulls fail to sway market
Source: Pixabay

Bitcoin SV continued its poor run in the market as the token failed to gain any serious hike in terms of price valuation. The coin was recently overtaken by Cardano, with respect to market capitalization, and stood at $1.14 billion, at press time. The token was priced at $64.83 and the trade volume achieved over the last 24 hours remained around 55 million. The coin witnessed a drop of 1.2% against the US dollar over the past 24 hours.

The coin experienced maximum trade on Dragon EX exchange, which contributed to 10.28% of the total trade volume via the trading pair of BSV/USDT.


Source: TradingView

The short term 1-hour chart indicated the token’s ongoing tussle in the bear market. The coin witnessed a downtrend, which extended from $70.009 to $68.144. It managed to recover some of its losses, but another bearish run stretched its losses from $68.28 to $66.77. The resistance line for the chart remained at $70.03.

The Bollinger Bands indicated a highly volatile period for the coin as the lines deviated away from each other. The Moving Average line projected a bearish trend for the coin.

The Chaikin Money Flow or CMF tool was under the zero line, suggesting that capital was going out of the market.

The MACD line pictured a clear bearish trend for the coin as the signal line remained above the MACD line and chances of crossover remained minimal.


Source: TradingView

The long term 1-day chart indicated the losses BSV suffered in the past, with a downtrend which extended from $111.69 to $68.29. The coin recovered some of its valuations earlier this month after a minor bullish trend saw the coin propelled from $67.515 to $75.071. The resistance line remained constant at $75.68 since the crash, and the support line kept pace at $61.633.

The Parabolic SAR indicated forthcoming bear trend as the dotted markers were flattened above the candlesticks.

The Relative Strength Index or RSI predicted a neutral trend in terms of buying and selling pressure, as the line remained between the 40 line and 60 line marker.

The Fisher Transform underwent a recent crossover, projecting a bearish trend for the coin, at press time.


The long term and short term indicators for the token indicated a dominant bearish trend for the coin as the market continued to navigate price devaluation.

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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.


Ethereum [ETH] and Tron [TRX] Price Analysis: TRX tries to join ETH on the bull wagon

Arijit Sarkar



Ethereum [ETH] and Tron [TRX] Price Analysis: ETH enjoys the bullish trend while TRX tries to join the bull wagon
Credit: Pixabay

The cryptocurrency market continued to consolidate after days of bullish movements. Tron [TRX] was back in the 12th position on CoinMarketCap and continued its sideways trend. Ethereum [ETH] maintained its market position as the market’s best performing altcoin.

Ethereum [ETH] 1-Day

Source: TradingView

The 1-day reading for Ethereum [ETH] showed that the altcoin enjoyed a strong bull market throughout the year, with no visible resistance to break. The cryptocurrency’s bull run was the strongest over the last week, enabling investors to enjoy a 38% growth in ETH value. Following the spike, ETH settled at $257.51, and held a market cap of $27.3 billion. It had a 24-hour trading volume of $11.8 billion, at press time.

Bollinger Bands: The upper and lower bands have been diverging over the month, suggesting high volatility and a bullish trend

Awesome Oscillator: On the other hand, the red histogram projections in the AO displayed a rising selling pressure for the ETH market

Relative Strength Index: The token continued to be traced across the overbought zone.

Tron [TRX] 1-Day

Source: TradingView

Resistance 1: $0.0308

Contrary to Justin Sun’s promise of TRX’s bullish future, Tron [TRX] witnessed a drop in its position owing to BSV’s brief pump, before the status quo was restored again. During the 24 hour reading, the coin grew by 1.58% and traded at $0.0286, with its resistance at $0.0308, at press time. It held a market cap of $1.9 billion and a 24-hour trading volume of $737 million.

MACD: The MACD line over the the reading line and suggested a bullish market for TRX

Chaikin Money Flow: The CMF plot hovered very close to the zero line, suggesting an equilibrium in the capital flowing in and out of the TRX market

Parabolic SAR: The alignment of the dotted markers below the candlesticks suggested a bullish phase for the market


Ethereum [ETH] continued to consolidate its position in the market, while Tron [TRX] was making progress in breaking from its perpetual sideways movement.

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