Bitcoin SV, NEM and Compound continue to vary after Bitcoin hike
The dominance of Bitcoin rose to 64.3% after dropping to 62.44% last week. Bitcoin is currently trading at $ 19,072 with a 24-hour trading volume of $ 19.6 billion.
Some altcoins showed a bullish break, such as Bitcoin SV and NEM. Compound appeared to show buyer domain after seeing a steady decline in purchase volume over the past few weeks.
Bitcoin SV [BSV]
Source: BSV / USDT at TradingView
Bitcoin SV formed a symmetrical triangle after marking a $ 215 high. Turnover also decreased while the price was within the standard.
The price burst with good trading volume and rose to resistance at $ 183, but was subsequently pushed down. However, BSV bulls may not be ready yet.
The RSI showed upward momentum with a reading of 59. It crossed above the neutral line of 50 and, despite falling to $ 178, did not fall to 50. This showed that a short-term upward trend was underway.
Source: XEM / USD at TradingView
XEM formed a symmetrical triangle with decreasing trading volume and burst upwards, confirming the continuation pattern.
Since breaking close to $ 0.18, the MACD has shown momentum that saw the price skyrocket to close the trading session at $ 0.265, representing gains of almost 50%.
The price may be due to a retraction after the recent strong gains, and the MACD line was at a distance from the signal line and could correct the downturn in the coming hours.
Source: COMP / USDT on TradingView
A few weeks ago, OBV showed a series of lower highs, while the price reached higher highs. This bearish divergence eventually manifested itself with a COMP correction back to $ 100.
The price failed to rise to more than $ 110 for a few more days. Until early December, it saw a huge increase in the purchase volume of COMP, along with an increase of $ 106 to reach $ 140 in a few days.
COMP saw a retracement to the previous $ 125 support level. The stochastic RSI was correcting and would soon be in the overbought region while the OBV was rising. This indicated that the COMP would likely test the $ 140 resistance once again.