Bitcoin SV, Compound, Ethereum Price Movement Analysis for 12th April, 2021

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Bitcoin SV may break lower from its ascending channel in the coming days, while Compound may fall as low as $337 if a descending triangle is broken. Ethereum was expected to reach $2,200 or higher before a minor pullback.

Bitcoin SV [BSV]

Bitcoin SV fell after struggling to break through the $286.1 resistance level, but it remained within an ascending channel. While the price remained above the channel’s equilibrium level, the next sessions must be carefully watched for a collapse. After forming lower highs on the map, the RSI revealed a bearish divergence. If the index falls below 40 in the coming sessions, the risk of a breakdown increases.

The Awesome Oscillator reached three peaks above the half-line, but these were quickly followed by bearish momentum. Trading rates have already been declining in recent days. A break in this trend could lead to a test of help at $244.6 or $234.9.

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Compound [COMP]

Source: COMP/USD, TradingView

Compound illuminated another descending triangle on the 4-hour chart after the market jumped south from the $561.2 resistance. The pattern’s bottom trendline coincided with the 200-SMA (green), and it was unclear when a breakup would occur.

The Awesome Oscillator indicated that momentum was on the bullish side, and a jump over the half-line would almost certainly result in a breakout in the opposite direction for COMP. The OBV, on the other hand, highlighted the market’s current selling strain. If a failure occurs, help levels were at $420.1 and $398.6, but a move below this level was still likely. Long-term traders can see a drop back to $337 as a buy signal.


Ethereum [ETH]

Source: ETH/USD, TradingView

If the king coin continues to face strong resistance above $60k, Ethereum has been making new market discoveries in recent days. So far, ETH’s weekly, monthly, and year-to-date returns have outperformed Bitcoin, highlighting its bullish period in 2021. On the 4-hour timeframe, the price continued to rise and broke through a resistance barrier at $2,165.9.

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Since late February, the OBV has been steadily rising as buying pressure has remained a dominant force in the market. However, the MACD did show a bearish divergence, which raised some eyebrows in the future. Also 24-hour trading rates fell by 10%, falling below $20 billion. The price could break through $2,200 and even climb beyond it today, but there was also a possibility of a minor drop. In the event of a pullback, the amounts of support at $2,126.7 and $2,055 were critical.

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