Bitcoin SV has fallen below a retracement level following its recent gains, with the crypto retesting at the same level as resistance. The Basic Attention Token has passed $ 0.5, but it remains to be seen if the bulls can push higher. Finally, Compound has shown signs of rising above its resistance level at $ 494.
Bitcoin SV [BSV]
For BSV’s move from $ 157 to $ 240 since the end of January, the Fibonacci retracement tool has highlighted some retracement levels that could serve as support. Recent trading sessions have seen BSV drop sharply to the 38.2% retracement level and rebound to test the 23.6% level at $ 217 as resistance.
Even on the 4-hour chart, the trading volume was declining, while the MACD formed a bearish cross. The retest of $ 217 as resistance indicated further losses for BSV, but it was not necessarily a long-term uptrend reversal, but rather only a pullback.
BSV can be expected to experience some demand in the $ 204 and $ 194 areas.
Basic attention token [BAT]
Basic Attention Token found a demand region just below the $ 0.4 mark it has fallen below in recent days, with the crypto pushing north with every attempt.
The RSI hit 50, but the same rebounded sharply as BAT fell from $ 0.4 to $ 0.51, at the time of writing. The previous high at $ 0.46 was broken, the same having additional significance as this was the 27% extension level for BAT’s move from $ 0.177.
The next significant resistance level for MTD was $ 0.56.
Over the past week, the $ 494 level was one of the most stubborn resistances in crypto. Even when COMP managed to rise above it, sellers intervened with force in the market and drove prices down.
At the time of writing, another upward movement is brewing. The price rose above the EMA tapes and prepared to test the resistance level of $ 494, while the DMI showed a downtrend as the ADX fell towards 20.
Over the next few hours, if COMP does manage to break above $ 500, it would likely move towards the $ 520 mark.
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