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Bitcoin SV, Maker, Dash Price Analysis: 18 January

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Source: Pixabay

Bitcoin SV showed weakly bearish momentum over the past few days, but that might be set to reverse shortly. Maker was in a phase of consolidation, and Dash showed some weak bearish pressure that could gradually push the price toward $116.

Bitcoin SV [BSV]

Bitcoin SV, Maker, Dash Price Analysis: 18 January

Source: BSV/USDT on TradingView

Bitcoin SV’s charts resembled Bitcoin’s own price action over the past few days. Both coins appeared likely to see a breakout in the next few hours as they formed a descending triangle.

For BSV, the defense of the $200 region of support was encouraging for the bulls. The MACD indicated that the momentum, which had slowly slid beneath the zero line, might be about to see a reversal.

This wasn’t confirmed at the time of writing, but a good trading volume move to the upside will likely see BSV climb toward the $225 mark in the coming days.

Maker [MKR]

Bitcoin SV, Maker, Dash Price Analysis: 18 January

Source: MKR/USDT on TradingView

The Bollinger bands were creeping closer to the price of MKR as volatility continued to fall. The price was in a phase of consolidation at the $1400 level, after posting strong gains earlier this month, surging nearly 143% in January to trade at $1445 at the time of writing.

A symmetrical triangle pattern (orange) was seen, and the declining trading volume over the past few days is also valuable information.

Slipping beneath the $140 level will see MKR retrace some of its recent gains. Significant regions of support lie in the vicinity of $1200 and $1030, which are 38.2% and 50% Fibonacci retracement levels.

Dash [DASH]

Bitcoin SV, Maker, Dash Price Analysis: 18 January

Source: DASH/USDT on TradingView

The RSI slipped beneath the neutral 50 value and retested it as resistance to indicate a downtrend in progress. While this wasn’t strong bearish momentum, the Stochastic RSI was also falling.

Taken together, this pointed toward a minor downside for DASH over the next few trading sessions. The $113-$116 region can be expected to serve as support should DASH see a dip.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.