The Bitcoin Cash [BCH] hard fork was the talk of the town over the last few weeks, the event which resulted in Bitcoin Cash splitting into two different tokens: Bitcoin SV [BSV] and Bitcoin ABC. The ABC implementation is the one that has garnered more popularity in the crypto verse, evidenced by the adoption by popular cryptocurrency exchanges like Coinbase and Birex.
After the fork, Bitcoin SV has actually shot up in prices, with weekly estimates showing that the cryptocurrency has risen by a whopping 90%.
The one-hour BSV graph shows a substantial uptrend that has lifted the price from $68.857 to $116.832. The support has been holding at $39.236, while the immediate resistance is plotted at $140.45.
The Awesome Oscillator [AO] shows a pickup in the market momentum, with the bearish momentum overtaking its bullish counterpart.
The Chaikin Money Flow [CMF] indicator has stayed above the zero line, which signifies a bullish run. This also means that the money coming into the market is more than the outflow.
The four-hour BSV charts show both a downtrend and an uptrend. The downtrend brought the prices down from $137.185 to $57.158 while the following uptrend saw BSV shoot up to $116.259.
The Bollinger band shows the cryptocurrency diverging to form a massive bearish cloud. The upper Bollinger cloud and the lower Bollinger cloud have both taken the shape of a venturi tube, signifying multiple trend changes.
The MACD indicator has taken a bullish tangent as reflected by both the MACD histogram as well as the MACD line. The signal line is heading for a convergence with the MACD line, which points to a slight bearish drop.
Bitcoin SV may have been the least popular of both the fork products, but the bull does not look like it minds it. The Bollinger band, AO and the CMF all take the side of the bull while the MACD indicator predicts a slight price drop.
Subscribe to AMBCrypto’s Newsletter
Tron [TRX]’s Justin Sun believes that dApp in Tron and BitTorrent project will trigger next bull run
Binance proves to be quick with development; trumps the week with progress
Bitwise Invest 20 constitutes of 15.37% in Tron [TRX]
XRP/USD Technical Analysis: Bear market to see no end as coin dives deeper
Despite Bitcoin [BTC]’s price slump, fundamentals grow stronger; BitMEX’s BTC trading volume surges
XRP-powered xRapid to be used by “major banks” by EOY according to Ripple CEO: A deeper look into the statement
XRP and Ripple community is manipulating Twitter for promoting Ripple, says Dogecoin creator
Bitcoin Cash SV [BSV] Technical Analysis: Cryptocurrency is all set for a slow and steady performance
Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency succumbs to sideways movement as bear looms large
Bitcoin [BTC], XRP, Ethereum [ETH] begin volley of attacks against the bear: Castle of red crumbles
BREAKING: Ripple class-action lawsuit rolls ahead; plaintiffs place new demand
Bitcoin [BTC] could rally upto $333k by December 2021, after reaching $2,500 in January 2019: Bobby Lee
XRP integration into OMNI, Xpring’s role in company’s growth discussed by leader
Bitcoin Cash [BCH] ABC to be delisted from all exchanges, says Bitcoin SV [BSV]’s Calvin Ayre