BTC, BSV, and BNB Price Prediction: Indicators are Signaling Short-Term Bounce

Price Predictions
Sun, 11/24/2019 - 14:16
Denys Serhiichuk
Can the prospective altcoins fix the current price and grow in the long-term?
Cover image via www.tradingview.com

Today, the cryptocurrency market is recovering from a drop that occurred a few days ago. While Bitcoin (BTC) is still in the red, the majority of altcoins have increased in value.

Top 10 coins by Coinstats

Below is key information for Bitcoin (BTC), Bitcoin SV (BSV), and Binance Coin (BNB):

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$131,288,691,713

$7,267.61

$20,675,126,905

-0.16%

Bitcoin SV

BSV

$1,895,937,424

$104.93

$713,473,270

9.77%

Binance Coin

BNB

$2,521,937,737

$16.21

$275,376,553

4.66%

BTC/USD 

The price for BTC has remained mostly unchanged, as the cryptocurrency has only dropped by 0.54% since yesterday.

BTC/USD chart by TradingView

Looking at the 4H chart, BTC has not moved out of the oversold area yet. This means that the cryptocurrency is unlikely to drop below the $7,000 mark anytime soon. Moreover, the Bollinger Bands confirm such a scenario.

Related
Bitcoin (BTC) Price Prediction: Could a Long Wick Bounce Upwards to the $7,500 Mark?

In a short-term price scenario, one should consider BTC returning to a price of $7,600, which was the last support level before the decline.

At press time, BTC is trading at $7,198.

BSV/USD 

BSV is today's top crypto gainer as its rate has rocketed up by almost 10% since yesterday.

BSV/USD chart by TradingView

According to the chart, today’s growth was a pump rather than the start of a possible short-term price revival. The Moving Average Convergence/Divergence (MACD) indicator is still bearish, confirming the ongoing dominance by the bears. In short, the $95 level is the nearest point, and this might be reached sooner than later.

At press time, BSV is trading at $103.37.

BNB/USD 

BNB is the second cryptocurrency that has shown growth, in which Binance's exchange rate for the native token has increased by 4.66%.

BNB/USD chart by TradingView

While the rate has gone up by almost 5%, the price could still decline to $15. This is confirmed by the lines of the relative strength index (RSI). In terms of a long-term price projection, BNB may have updated its local bottom. Traders may expect the price to increase to about $18 in December, a level that has been previously tested multiple times. 

At press time, BNB is trading at $16.11.

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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