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Bitcoin SV, Monero, Waves Price Analysis: 04 April



Source: Pixabay

Bitcoin SV saw a steep rise to $267 but fell from those heights just as quickly. Monero saw sellers step in to force prices beneath $250, but the skirmish was yet undecided and XMR has not yet dropped below $245. Waves formed a megaphone pattern that could see it rise to $14.32.

Bitcoin SV [BSV]

Bitcoin SV, Monero, Waves Price Analysis: 04 April

Source: BSV/USDT on TradingView

Bitcoin SV shot upwards past the $218 level in recent days to reach the 38.2% extension level at $267 but was forced to drop back just as swiftly to revisit $215-$218 once more.

The RSI dived from overbought to below neutral 50 as BSV bounced to trade at $223 at the time of writing. The movement of Bitcoin will have a strong influence on BSV. If BTC can defend the $56,700 mark over the next 24 hours, and move toward $60,000 once more then it is likely BSV will follow.

Monero [XMR]

Bitcoin SV, Monero, Waves Price Analysis: 04 April

Source: XMR/USDT on TradingView

Monero saw a bearish divergence between the price and the MACD, and this saw XMR pull back to the region of demand at $251-$255. However, selling pressure intensified and the price broke beneath the demand region and reached $247, which has acted as support in the past.

The momentum is with the bears in the short term, but if bulls can absorb the selling pressure to keep prices above $245, a quick recovery could be seen in the coming days. The OBV notes that recent selling volume was significant but not enough to undo the buying volume of the rally from $215.

Waves [WAVES]

Bitcoin SV, Monero, Waves Price Analysis: 04 April

Source: WAVES/USDT on TradingView

WAVES formed a right-angled, broadening ascending pattern on the charts. This pattern generally sees the price break out upward, and in this context presents a technical target of $14.32. However, it could see a throwback as well that could see WAVES visit $11.23.

A trading session close below $11.23 would show that further losses were likely for WAVES. At the time of writing, the Chaikin Money Flow moved back into a neutral area, showing that buyers and sellers were in equilibrium in the market.

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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.