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Saturday, November 28, 2020

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Bitcoin Dominance climbed to 61.55, as fear and bears continued to keep sway over crypto markets. Bitcoin SV and Cosmos were waiting on hold to a support level, while Zcash exhibited a bullish signal.

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Bitcoin SV [BSV]

Bitcoin SV, Zcash, Cosmos Price Analysis: 6 September

Source: BSV/USDT on TradingView

Bitcoin SV bounced off support level at $151, and was trading at $161 at the time of writing. On the rear of this bounce, MACD showed a bullish crossover and generated a buy signal.

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The over all market conditions are notably bearish, and selling pressure dominated. BSV might be able to retain support at $151.

Zcash [ZEC]

Bitcoin SV, Zcash, Cosmos Price Analysis: 6 September

Source: ZEC/USDT on TradingView

Zcash crashed through support levels. $56 level did actually have halted its descent for some time, but ZEC dropped through this level also. At the time of writing, RSI showed a value of 34.3, which indicated bearishness.

However, ZEC also showed a bullish divergence, highlighted by white trendlines. A bullish divergence is where price makes lower lows, while momentum oscillator such as RSI, makes higher lows.

It was easy for ZEC to go above resistance level $56, but it remains likely that ZEC wouldn’t be able to retain that level.

Cosmos [ATOM]

Bitcoin SV, Zcash, Cosmos Price Analysis: 6 September

Source: ATOM/USD on TradingView

Cosmos lost 78.6% of the gains it had made since the end of July. Important quantities of retracement were highlighted by the Fibonacci Retracement tool.

The tool showed that levels to watch out for were $4.515, the 78.6% retracement level, and $5.47, which was the 61.8% retracement level.

According to DMI, it absolutely was still going strong. ADX (yellow) was above 40, while -DMI (pink) was dominant.

$4 support could possibly be tested in the coming days if selling pressure remained as strong.

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