Bitcoin SV showed overall bullish strength to rise in the past day’s time despite dropping towards $242.1 support at press time. IOTA moved within an ascending channel, but a break above $1.7 was unlikely in the short term. Down the crypto-ladder, DigiByte was tipped to rise towards $0.089 on the back of favorable on-chain metrics.
Bitcoin SV [BSV]
While a horizontal pattern saw Bitcoin SV trade between $189.2 and $225.2 since mid-March, the price broke north of the upper trendline and touched levels last seen over a month ago. However, the Awesome Oscillator noted a red bar at the time of writing as momentum shifted towards the selling side.
This saw BSV move closer towards a strong support region of $242.1. A breakdown from this level was unlikely considering the bullish strength in the market. The ADX pointed north from 47 and underlined the strong bullish presence. The next target for the buyers resided at a little over the $280-mark.
An ascending channel was visible on IOTA’s 4-hour timeframe after the price bounced back from $1.27-support. Even though this pattern sees the price surge above multiple levels, there was a degree of skepticism in the market. This arose from the fact that the OBV failed to recover since registering a sharp drop over a week ago. Without the presence of buying pressure, a breakout above the next ceiling at $1.70 was unlikely.
Moreover, a bearish crossover was spotted on the MACD and the bulls were in danger of losing out to the press-time support. Considering low buying activity, IOTA was expected to remain restricted below $1.76 at least over the short term.
A surge of 8% in the last 24-hours boosted DigiByte towards the upper ceiling of $0.084. Higher highs on the OBV showed healthy buying pressure, which was a positive sign for its short-term trajectory. Even though the RSI entered the overbought territory, it pointed upwards and suggested a delayed stay in the upper zone.
Higher levels were likely over the coming sessions, with some resistance expected at $0.089. If the indicators reverse their stance, stabilization could take place at the $0.077-support.