Bitcoin SV, NEM, Maker Price Analysis: 09 February – AMBCrypto News
Despite market leaders Bitcoin and Ethereum valued at historical levels at the time of writing, altcoins such as NEM and Maker moved on their own accord, while trading in the red zone. On the contrary, BSV rose on the back of bullish cues from the broader market, but it remained uncertain whether it would be able to go past its previous local high.
Bitcoin SV [BSV]
Bitcoin SV climbed above its 200-SMA (green) on the back of a broader crypto-rally, with BSV being traded at $214, at press time. What remains to be seen, however, is if BSV can topple its local high of $290, a level that was snapped during the previous Bitcoin rally in January. The Awesome Oscillator noted rising momentum on the bullish side as the green bars rose in length above the half-way mark.
Finally, the Relative Strength Index moved north into the overbought zone, with a bearish pullback seemingly delayed. Although the indicators flashed bullish signals, trading volumes and buying activity would need to be on the higher side over the next few sessions if BSV wishes to rise above its previous local high. In the event of a correction, areas of support resided at $196.7 and $189.2.