Bitcoin SV has shown a weak bearish momentum over the past few days, but this could reverse in a short time. Maker is in the consolidation phase.
Bitcoin SV price analysis
The Bitcoin SV chart is similar to the price movement of Bitcoin over the past few days. It looks likely to see a breakout in the next few hours as both cryptocurrencies form a descending triangle.
The defense of the $ 200 support zone for BSV is encouraging for the bulls. The MACD showed that the momentum slowly shifting below the zero line could begin a reversal.
This has not been confirmed yet, but a good upward move in trading volume is likely to raise the BSV to $ 225 in the coming days.
Maker (MKR) price analysis
Bollinger bands are approaching MKR price as volatility continues to decline. The price was in a consolidation phase at $ 1400 after posting strong gains earlier this month. MKR increased nearly 143% in January, trading at $ 1445.
The symmetrical triangle pattern (orange) has been seen, and the trading volume that has declined in the past few days is also valuable information.
Falling below the $ 140 level means MKR will withdraw some of its recent earnings. The key support zones are around $ 1200 and $ 1030, which are the 38.2% and 50% Fibonacci retracement levels.