Bitcoin SV, Stellar, VeChain Price Analysis: 16 September

Thursday 17 September 2020, 4:17 AM AEST - 1 month ago

Besides Bitcoin, all the major altcoins were undergoing severe corrections over the past 24-hours and it seemed like the depreciation was only going to get worse from here onwards. Bitcoin saw its price rise by over 1.6 percent in the past 24-hours and is now trading at $10,871.

Capture-14.jpgSource: CoinStats

The likes of Bitcoin SV, Stellar and VeChain also displayed decline over the past few hours, riding with the bears from the time being.

Bitcoin SV [BSV]

BSV-1.pngSource: BSV/USD on Trading View

The price of Bitcoin SV has been deteriorating ever since it fell below $200. The asset has been trying to maneuver up but the selling pressure has been intense for BSV. At press time, the token represented a descending triangle pattern, which suggested further bearish movement.

Bitcoin SV had a market cap of $3.01 billion at press time with a consistent trading volume of $1.11 billion over the past day. The 50-Moving Average remained as an overhead resistance on the 1-hour chart.

Relative Strength Index or RSI was indicative of rising sell pressure in the charts and Chaikin Money Flow or CMF suggested that the capital inflows were starting to drop with capital outflows increasing in the charts.

Stellar [XLM]

XLM.pngSource: XLM/USD on Trading View

Now over the past day, Stellar has slipped by 2.58 percent in the charts but over the last few hours, it seems that XLM is trying to stage a comeback. The 17th ranked crypto asset is trying to move above the 50-Moving Average but that seems unlikely at the moment. With a market cap of $1.62 billion in the chart, XLMs trading volume over the past day was extre ...

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