Bitcoin Cash SV Trends So Far Promise a Comparatively Less Volatile TrendDecember 1, 2018
Cryptocurrency investors have been very attentive of the aftermath trends post the hard fork of Bitcoin Cash [BCH]. The hard fork was a big news and there is a lot of opinions post the fork that moved the trends.
A Hardfork happens when a cryptocurrency community is not able to completely agree with a software upgrade. Those developers who do not agree, adhere on to their coding technology and the others adapt to the upgraded version. It is a kind of a Hash War. The Hard Fork, therefore, influences investor perception and eventually there is a notable influence of the hard fork in the trends lines.
Despite the recent Hardfork both Bitcoin CashABC, as well as Bitcoin Cash SV, have continued to stay in the top 10 list over the past couple of weeks. It was hard for Bitcoin Cash ABC to keep up with the strong price range, and it continued to stay in the 5th place on the basis of the market capitalization.
Even during the Bearish Market Trends, Bitcoin Cash SV continued to display an excellent performance over the past week.
It has been trading at $95.62 with a market capitalization at $1.67 billion. The cryptocurrency exhibited an 83.6% gain over the past 7 days. A negligible hike at 1.56% was noted in the past 24 hours. Upbit, Binance, and Bithumb showed a decently high trading volume at 28.5%
The trend of Bitcoin Cash SV has been seen to be in the uptrend in the 1-hour chart. The uptrend was seen progressing from 38.6 USDT to 94.2 USDT. It should a resistance level set at 132.06 USDT.
A narrow path is seen in the Bollinger Bands thus accounting for the fact that there is very less volatility in the market.
When reading the Chaikin Money Flow [CMF], the trend line was seen to be moving a lot below the zero line. This is indicative that the influx of money is not as healthy in the BSV market.
When looking at the signal line and the reading line moving together along the Klinger Oscillator, it is just indicative that there is no buy or sell signal seen in the timeframe.
The MACH is showing a negative histogram formation with a bearish crossover seen in the trend line.
The uptrend of the Bicoin Cash SV in the 4-hour chart ranged from 70 USDT through 94.29 USDT, and the downtrend was seen to extend from 133.6 USDT through 104 USDT.
The Relative Strength Index was stable and completely set in the RSI zone.
Technical Analysis at present reveals that Bitcoin Cash SV will probably have a decidedly less volatile market. A trend breakout is also expected due to the formation of Bollinger bands.