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EOS, Bitcoin SV, Monero Price Analysis: 23 April

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EOS, Bitcoin SV [BSV], and Monero [XMR] have been among the alts impacted by the falling market. The altcoins have been plunging and the trends have vastly changed across the market.


Source: EOSUSD on TradingView

EOS price has been following the trend of the largest altcoin Ethereum [ETH] and surged to its annual peak of $9.02 in the previous week. However, the price has slipped by 50% since and the current value of EOS was $5.18.

This falling value of the digital asset has given way to a more bearish trend. As volatility remained high, selling pressure has also remained high. This was reflected in relative strength index moving towards the oversold zone. This hinted at an extended period of bearishness.

Bitcoin SV [BSV]

Source: BSVUSD on TradingView

Like Bitcoin, its hard fork Bitcoin SV [BSV] was also falling. The digital asset noted a peak at $489 on 16 April before it witnessed a correction. Although the correcting price found support at $285.64, the following pressure from the alts pushed the price even lower.

The BSV price has continued to trend lower and hit support at $217 and bounced back. Currently, it was trading in a bearish market at $236, with high volatility. Meanwhile, it was moving away from the equilibrium zone and toward the oversold zone. As the bearishness persists, the coin may face a difficult time making back up.

Monero [XMR]

Source: XMRUSD on TradingView

The XMR price has been rapidly moving higher despite the selling pressure. Even when the rest of the market was trying to fight off the bears, XMR did not face a major correction. The price slipped from $428 to $329, but the market was still fairly bullish.

This bullishness was indicated by the signal line which stood under the candlesticks. Relative strength index noted that the correction helped the asset return to the overbought zone. Now that it was moving towards equilibrium, XMR price may find stability. Similarly, Chaikin Money Flow was indicating that more money was flowing into the XMR market, which was a bullish sign.


Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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