Slowly but surely the cryptocurrency market is getting dominated by bulls. All top 10 coins are in the green zone. What is more, most of the altcoins are showing better price dynamics than the leading crypto.
The key parameters of Bitcoin (BTC), Bitcoin Cash (BCH), Dash, and Bitcoin SV (BSV).
Bitcoin (BTC) is trying to get out of bears' pressure - its rate has increased by 1.67% over the previous day.
On the hourly chart, the top crypto is moving within the ascending channel. The Bollinger Band indicator, as well as the trading volume index, confirms the short-term rise.
In this case, the nearest level Bitcoin (BTC) might reach soon is $8,500. If bulls break, one may consider a continuation of the bullish trend.
Bitcoin is trading at $8,443 at press time.
After a sharp growth to $400 Bitcoin Cash (BCH) has not faced a deep correction. The rate bouched off the $276.6 level that corresponds to 50% according to Fibonacci retracement.
As the nearest price forecast, traders might consider a decline to $310 with an upcoming growth. The rise might continue to the level of $400 as buyers still have power before a more profound correction starts. In this case, the level that was mentioned above might be achieved until the end of February 2020.
Bitcoin Cash is trading at $328.3 at press time.
Dash is the top gainer of our list. Its rate has rocketed by almost 12% over the previous 24 hours.
On the 4H chart, DASH is overbought based on the RSI indicator and formed a bearish divergence. Respectively, traders might soon notice a possible decline to the closest support at $97. What is more, the trading volume index keeps going down, suggesting an upcoming drop.
Dash is trading at $109.50 at press time.
Bitcoin SV (BSV) is recovering after a fall from the level of around $320. The rate of one of the Bitcoin's forks has increased by 5.40% over the last 7 days.
As the closest price forecast, the coin might keep trading sideways as there are no vivid buyers or sellers. In addition, the lines of the MACD indicator also confirm such a scenario. In this regard, Bitcoin SV (BSV) might locate within the yellow range between $265 and $275.
Bitcoin SV is trading at $269.14 at press time.