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Polkadot, Ontology, Bitcoin SV Price Analysis: 21 February



Source: Pixabay

Polkadot showed a bearish divergence in a shorter timeframe and saw a minor dip toward $38. Ontology appeared poised for a strong move upward once more while Bitcoin SV saw a level of support flipped to resistance at $240.

Polkadot [DOT]

Polkadot, Ontology, Bitcoin SV Price Analysis: 21 February

Source: DOT/USDT on TradingView

On the 1-hour timeframe, a bearish divergence between price and momentum was seen, and subsequently, DOT faced a correction. This dip was halted at $38.19, and the coin could see further gains again.

The RSI did not move beneath the neutral 50 line to indicate that the upward momentum still held even in the shorter-term time frame. The OBV dipped during the past couple of days but the long-term trend for the OBV is still in favor of the buyers.

Beneath the $38 level, DOT can expect to find support at $34. However, such a drop is unlikely to occur over the next few days.

Ontology [ONT]

Polkadot, Ontology, Bitcoin SV Price Analysis: 21 February

Source: ONT/USDT on TradingView

ONT formed a bull flag pattern, with the descending channel (cyan) forming the flag. A breakout from this pattern would set a target of $1.8 for ONT bulls to achieve.

Having said that, the descent of the flag measures almost a third in value of the preceding rise in value- any further losses for ONT beneath $1.38 would likely invalidate the flag set up.

The Directional Movement Index showed a strong uptrend in progress as the ADX (yellow) moved well above the 20 value.

Bitcoin SV [BSV]

Polkadot, Ontology, Bitcoin SV Price Analysis: 21 February

Source: BSV/USDT on TradingView

Bitcoin SV faced stern opposition at the $270 price range. Last month, Bitcoin SV had risen above $280 but not past $300. The previous month’s rejection at $300 saw BSV slide to the depths of $160, and this could repeat in the coming weeks.

Over the next few hours, it can be expected that BSV will retest the $237 resistance and move toward $215. Both the Awesome Oscillator and the MACD showed bearish momentum was on the rise.

Longer timeframes also painted a bearish picture for BSV to follow in the coming days.

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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.