BCH, BSV, LTC Price Prediction - Can Altcoins Resist Ongoing Bear Pressure?

Price Predictions
Tue, 03/10/2020 - 11:14
Denys Serhiichuk
Are there any indications of short-term growth for Bitcoin Cash (BCH), Bitcoin SV (BSV), and Litecoin (LTC)?
Cover image via www.tradingview.com

The cryptocurrency market still hasn't been able to recover from the recent dump. All of the top 10 coins remain in the red zone. The biggest loser is currently Ethereum (ETH), whose rate has dropped by almost 4% over the past day.

Top 10 coins by Coinstats

The key information for Bitcoin Cash (BCH), Litecoin (LTC), and Bitcoin SV (BSV) is as follows.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin Cash

BCH

$4 903 313 315

$267.61

$4 701 792 913

-3.57%

Litecoin

LTC

$3 194 735 574

$49.72

$4 311 025 032

-1.59%

Bitcoin SV

BSV

$3 576 027 152

$195.20

$2 120 106 237

-2.85%

BCH/USD 

Bitcoin Cash (BCH) is one of the altcoins that has suffered greatly from the ongoing price drop. The rate of the coin has fallen by 3.10% in the past day.

BCH/USD chart by TradingView

On the 4H chart, the fall has not yet ended as trading volume remains low. However, we can consider the current situation to be a correction of the recent dump. Respectively, a more likely projection is a slight correction and growth to the nearest resistance at $280. Moreover, there is a bullish divergence on the RSI indicator.

Bitcoin Cash is trading at $268.70 at press time.

BSV/USD 

Another Bitcoin (BTC) fork continues facing a decline. The Bitcoin SV (BSV) rate has fallen by 2.47% over the past 24 hours.

BSV/USD chart by TradingView

Analyzing the 4H time frame, it has not yet reached the bottom. From a technical point of view, the trading patterns are similar to that of Bitcoin Cash (BCH). In this case, traders can expect growth to the basic line of the Bollinger Band indicator in the upcoming days. However, that should be considered as a correction of the fall but not the start of a bullish trend.

Bitcoin SV is trading at $195.78 at press time.

LTC/USD 

'Digital silver' is showing the best price dynamics compared to Bitcoin Cash (BCH) and Bitcoin SV (BSV). The Litecoin (LTC) rate has dropped by only 1.48%.

LTC/USD chart by TradingView

The drop has stopped at the $47 zone. Before falling deeper, the coin is likely to remain in the $50-$52 range. Such a statement is supported by the low liquidity at the current zone and the oversold status of Litecoin (LTC).

Related
Litecoin (LTC) Price May Hit $77.50 after Forming Inverse Head and Shoulders

All in all, buyers might reach said area in the nearest days.

Litecoin is trading at $49.55 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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