Bitcoin SV, Chainlink, Theta Price Movement Analysis for 3rd May, 2021

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Bitcoin SV broke above its ascending triangle pattern, but the price fell short of its estimated $390 mark. Chainlink’s drop could be cushioned by the 50-SMA around $40, and the next upswing is likely to push it past $42. Finally, a crossover of the long-term and short-term moving averages could send THETA past the $14 level.

Bitcoin SV [BSV]

As previously discussed, Bitcoin SV broke through its ascending triangle, but the price has yet to reach its expected goal of $390. Bullish momentum was declining, according to the Squeeze Momentum Indicator.

Selling at the current price pace will result in 3.2 percent losses, but traders should still wait for the next session to end. A bullish candlestick could indicate that the price would continue to rise. RSI, on the other hand, indicated that the stock was overbought. In the event of a pullback, funding can be found at $341.

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Chainlink [LINK]

Source: LINK/USD, TradingView

While Chainlink, the world’s 12th largest cryptocurrency, has gained in the last 24 hours, the hourly timeline has seen a drop in the last several sessions. The MACD’s fast-moving line was lower than the Signal line, but the index was above equilibrium, indicating a bullish sector. The 50-SMA (blue) was only below the $40 mark and could serve as a support line if the result was bearish.

According to Chainkin Money Balance, nett capital inflows continue to outnumber outflows, but the difference is narrowing. The $42 bullish target has yet to be broken; traders will have to wait a few more days before this breakout occurs.


Source: THETA/USD, TradingView

Theta’s price change on the 4-hour period was at a critical juncture at the time of publication. Not only was the cryptocurrency about to break out of a horizontal channel, but the 50-SMA (blue) was closing in on the 200-SMA (green). A strong crossover of the two moving averages will be a bullish sign. THETA is expected to climb all the way to $14 before the bears gain over.

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The MACD signalling a bullish crossover, and the Awesome Oscillator indicated rising bullish momentum. The first price target for the buyers was $13.

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