Bitcoin SV presented different Fibonacci thresholds for a bullish revival, but the market was in a state of balance at the time of publishing. IOTA could move below the $1.27 support as the on-chain metrics blinked bearish signals. Finally, Zcash may need to endure a period of pressure on sales before attempting to return from the price chart.
Bitcoin SV [BSV]
Some essential Fibonacci levels have been illustrated in Bitcoin SV’s 4-hour chart with a high of $285 and a low of $170. The 50 percent standard, which is generally called a continuation level, provided good support for the $227 price mark. Several challenges awaited the bulls of the economy in order to overturn the existing market dynamics for bears. A climb above the 23.6 percent mark will be a step stone in its recovery. In the long term, the 50% mark may be intended for a bullish turnaround.
However, metrics have shown that the industry is in consolidation and huge price fluctuations are unlikely to occur in such a situation. The MACD line passed in parallel with the Signal line, while the ADX pointed south of the 10-mark line.
IOTA’s departure from the accumulation process was quickly refused by the bears as the cryptocurrency aimed to transform the $1.27 area into support resistance. The Bollinger Bands have shown that the stock uncertainty is increasing as the candlesticks have shifted lower since selling in the upper band. The step below the 20-SMA or Signal thread, which correlated with the $1.24 help, appeared certain in the coming sessions.
The Awesome Oscillator even sided with the sellers as the red bars looked at the halfway point. Buyers could spark a bullish comeback if they held on to the above-mentioned support stage.
The $140-level provided Zcash bulls with a big roadblock to overturn after the wider market pull back in late February. To overcome the $140 threshold, bulls will first need to navigate a time of bearishness as the 200-SMA (green) surpassed the 50-SMA (blue) a few days ago.
While the bearish mood had not yet affected the price, the lack of purchasing pressure was apparent in the On Balance Volume, which produced lower levels. The CMF pointed below the half-way mark as the capital outflows for ZEC were high. Support levels of $108.4 and $96.57 could buffer losses in a bearish scenario.
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