Most altcoins are in the green with Bitcoin’s new bullish record
XRP was trading within a downward channel pattern and buyers did not have the numbers to direct prices to break. Bitcoin SV has consolidated below the $ 192 level.
Source: XRP / USD no TradingView
The descending channel on which XRP was trading has not yet seen a break, however, the support level of $ 0.439 has been defended in the past few hours. This level represents the 38.2% retracement level for the XRP movement from $ 0.179 to $ 0.75.
On the 4-hour chart, neither the momentum nor the purchase volume was significant at the time of writing. The upper limit of the descending channel, as well as the horizontal resistance level of $ 0.49, is likely to offer significant resistance to XRP.
Moving above those levels would be an optimistic development, while diving below $ 0.439 could cause the XRP to move towards the $ 0.4 mark in the coming days.
Bitcoin SV [BSV]
Source: BSV / USDT no TradingView
BSV has been consolidating below the $ 192 mark for the past three weeks. Bitcoin’s upward move is also likely to strongly influence BSV, and a breakout beyond $ 192 can be seen soon.
Based on the BSV drop from $ 285 to $ 170, Fibonacci retracement levels have been plotted. BSV has risen above the $ 192 level and retested it as support in the past few hours. The RSI shot past 50 neutrals following the BSV’s rapid move from $ 182 to $ 192. The RSI was in oversold territory, and the BSV could see a slight drop to $ 188- $ 190 before its next bullish run.