BCH, BSV, TRX Price Prediction - Analyzing Chances of Bounce Back

Price Predictions
Thu, 03/19/2020 - 10:07
Denys Serhiichuk
Can Bitcoin Cash (BCH), Bitcoin SV (BSV), and TRON (TRX) grow faster than other altcoins?
Cover image via www.tradingview.com

The market has completely changed in the past 24 hours. If yesterday all of the top 10 coins were in the red zone, today, all of them are in a positive trend. The top gainer is Bitcoin SV (BSV), whose rate has risen by more than 7%.

Top 10 coins by Coinstats

The important data for Bitcoin Cash (BCH), Bitcoin SV (BSV), and TRON (TRX) are below.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin Cash 

BCH

$3 370 632 114

$183.80

$3 228 950 535

2.77%

Bitcoin SV

BSV

$2 233 311 820

$121.80

$1 760 727 688

5.80%

TRON

TRX

$695 084 506

$0.010424

$1 071 968 817

5.98%

BCH/USD 

Even though Bitcoin Cash (BCH) has been in an uptrend since yesterday, its growth has made up only 2.77%, which is much less compared to other top coins.

BCH/USD chart by TradingView


On the 4H time frame, Bitcoin Cash (BCH) is about to break from its sideways trend. A more likely scenario is upward movement as the basic line of the Bollinger Band indicator serves as a support level. Also, the selling trading volume keeps decreasing, which is a signal of further growth. All in all, Bitcoin Cash (BCH) may meet resistance in the $200-$210 area.

Bitcoin Cash is trading at $183.73 at press time.

BSV/USD 

Bitcoin SV (BSV) is doing much better than its fork. The rate of the cryptocurrency has increased by 6.82% in the past 24 hours.

BSV/USD chart by TradingView

On the daily chart, Bitcoin SV (BSV) is located in an accumulative zone after sharp growth along with the whole cryptocurrency market. Applying the Fibonacci retracement on the chart from the recent height to the current low levels, the closest resistance is located near $180, which corresponds to 23.6% of the retracement. In this case, it will reach said level by the end of March.

Bitcoin SV is trading at $124 at press time.

TRX/USD 

The rate of TRON (TRX) has also increased by more than 5%. However, the coin is still far from its recent levels. The decline over the past 7 days has amounted to around 16%.

TRX/USD chart by TradingView

On the daily chart, TRON (TRX) is entering a correction phase after a recent drop. A bullish divergence has formed on the RSI indicator, confirming an ongoing bounce back.

Related
TRON (TRX) Price Prediction — Going Below $0.01 Soon?

In addition, the lines of the MACD indicator are about to switch to green. Respectively, if nothing changes, TRON (TRX) will reach $0.012 soon. 

TRX is trading at $0.0107 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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