Bitcoin SV, Monero, BAT Price Analysis: 11 August
After Bitcoin went past its $10k resistance many of the market’s altcoins have been noting strong bullish sentiment. At press time Bitcoin was being traded at $11,732 with a 24-hour trading volume of $8.4 billion.
However, the trend has not been uniform across the altcoin market. In the past few weeks, the price of Bitcoin SV took a hit while coins like Monero and Basic Attention Token registered substantial gains.
Bitcoin SV [BSV]
Bitcoin SV currently occupies the 7th spot on CoinMarketCap’s list with a market cap of $4 billion. At press time the coin is being traded at $220 and has a 24-hour trading volume of $1.2 billion. Since the start of the month, the BSV’s price fell by 13 percent after having failed to breach the resistance at $253. However, there are two strong supports at $190 and $152.
The Bollinger Bands have expanded significantly and signals increased price volatility for BSV’s price. The RSI indicator is now moving away from the overbought zone and is now heading towards the oversold zone.
In terms of development related news, Bitcoin Association launched a Bitcoin SV Developer Zone in collaboration with the Chinese Software Developer Network (CSDN).
Unlike BSV, Monero saw its price surge by over 14 percent since 1 August. At press time, the privacy coin has a trading value of $93 with a market cap of $1.6 billion. At present, the coin is on the verge of testing the resistance at $96.9. However, if a downtrend were to commence there are two strong supports at $84 and $77 that can help stabilize the price.
The EMA ribbons have now settled below the current trading price of Monero and are likely to offer support. The RSI indicator is currently placed well into the overbought zone.
Basic Attention Token [BAT]
BAT saw a massive price hike of more than 21 percent since the start of the month. At press time the coin is being traded at $0.27 and has a strong resistance at $0.29. However, if the price were to see a correction, BAT can rely on the support at $0.23.
The Stochastic indicator shows strong bullish sentiment as it is now in the overbought zone. The MACD indicator echoes a similar sentiment after having undergone a bullish crossover. The coin was in the news following Brave’s new partnership with Japan’s BitFlyer in which local users are to be rewarded in BAT.