The altcoin market has shared a few common points over the past few weeks. Many recorded a strong uptrend on the charts, followed by a decline in recent days. Neo was withdrawn while Bitcoin SV was one such altcoin.

 

 

Bitcoin SV (BSV) price analysis

 

The RSI is falling on the hourly chart. After the previous day’s trading, it fell into a bearish zone, and BSV recorded losses after a short increase over $ 250.

The $ 237 Fibonacci retracement level is expected to remain support, provided Bitcoin does not see a strong downward move. Moreover, the long-term momentum for BSV is still in favor of the bears and no deeper correction is predicted below $ 230.

A possible close below $ 237 could see buyers stepping into $ 230, making the $ 230-240 range a demand zone that BSV bulls can’t deliver to bears.

Neo price analysis

Neo has shown upward strength over the past month and is in a brief phase of consolidation at the time of this writing. On the hourly chart, the trading volume has dropped significantly, while the Bollinger Bands also tightened around the price to show falling volatility.

The $ 39 zone remained support in the face of many bearish pressures. Closing below this level and staying for more than a few hours will strengthen the bearish strength in the market and could see NEO drop to $ 35.

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