316 Interactions, 2 today
Bitcoin SV [BSV]
On the 1-hour timeline, Bitcoin SV’s bullish movement was more visible as the market approached the $276.9-resistance. The Awesome Oscillator showed a string of green bars and climbed over the half-line. BSV was expected to make a northbound ascension towards its local high of $289.16, aided by solid momentum.
The RSI established higher highs and moved in lockstep with the market. A reading of 63 indicated that the price trend was bullish. At the time of publishing, 24-hour trading rates had already increased, yet more was needed to accumulate for a larger price swing.
A breakout from an ascending triangle enabled Dogecoin to eventually break through the $0.066 barrier, but gains were limited at $0.075. The OBV indicated that heavy buying interest moved DOGE beyond this mark, but that the bulls were unlikely to hold the price going forwards.
This was mostly attributed to a bearish divergence on the RSI.
The index has already reversed from the overbought zone, and in the event of a southbound shift, DOGE could challenge the $0.069-support. However, with Bitcoin priced above $60K, the DOGE market maintained a bullish mid-long term stance, and small dips are supposed to be quickly negotiated by investors.
The previous upswing in NEM was halted at the $0.48 resistance stage, and rangebound movement resumed on the 4-hour timeframe. This revealed hopes for a rebound after an accumulation period. An ADX reading of 13 indicated a poor business trend, while the RSI stayed neutral at 50.
The previous swing, on the other hand, suggested a $0.5 goal for the bulls. Long-term expectations were for a split above this range, as well as a pickup in volumes, which might signify a shift away from the current channel of $0.448-$0.403.
On the 4-hour timeline, waves depicted heavy bullish action after the market broke north of the $13.5-resistance. Surprisingly, a leap beyond the aforementioned stage up to the rally’s height resulted in gains of more than 50%. Strong amounts were also seen during those days, but trading activity has been quiet around the market since then. As a result, the price has fallen in recent days, finding support only above the $15 mark.
The OBV remained stable at higher stages, and the risk of another collapse was minimal. After settling at 50, the RSI represented a balanced sector. Moving ahead, assume any rangebound acceleration until the next upswing.