Dash Price Up 70%, BSV Gains 300%: Is a Price Correction Imminent?

Bitcoin (BTC) has been showing strength recently, as information technology surged from $6,900 to $viii,500 in a thing of two weeks. Not only has Bitcoin sees a period of growth, but privacy coins and Bitcoin forks accept too been showing a similar motility.

Crypto market daily functioning. Source: Coin360

Dash (Nuance) is upward 70% in 4 days, while ZCash (ZEC) is upwardly 45% in the same amount of days. Likewise, Bitcoin Cash (BCH) has seen an increase of 54% in the by x days, while Bitcoin SV (BSV) is up 300% in the aforementioned menstruation. Time for an analysis of these coins.

Dash is the best performer in the privacy category

The best performer recently is Dash, as it fabricated a seventy% upwards move in the past four days.

Nuance USD i-twenty-four hours chart. Source: TradingView

The cost of Nuance bankrupt through the resistance of $57 with an all-time high in volume and started to rally towards the adjacent resistance.

The next heavy resistance is plant at the current level as the toll rejected at the $87-90 level for a substantial corporeality of fourth dimension. As well that, the RSI level is in the critical zone as we speak, implying that a potential correction is warranted for such a spike.

Dash BTC 1-day chart. Source: TradingView

The BTC pair is showing a similar movement in contempo weeks. The toll of Dash broke through pregnant resistance at 0.0075 and continued to rally upwards. Currently, it'south visiting the side by side massive resistance with a similar RSI level, implying that a retest of lower levels is warranted.

Zcash following Nuance

Not only is Dash making a proficient movement in the past weeks, but Zcash is also showing a similar chart.

ZEC USD ii-day chart. Source: TradingView

Zcash bankrupt through a pregnant resistance around $33 and started to rally. A giant volume candle gives the perspective of this push button as ZEC didn't see such a volume candle in a long while.

Currently, Zcash is approaching the next resistance around $45, which would exist interesting to spot how the price is going to react at that level.

ZEC BTC one-day chart. Source: TradingView

The BTC pair is also showing a stiff button to the upside, through which it's facing resistance every bit we speak. The 0.005 satoshis area is a significant area to push through, which looks like it's going to exist the next resistance in the electric current push.

However, pushing through and the space is open until 0.0075 satoshis. If Zcash tin can't break up here, we're probable looking at 0.0047 satoshis as the first level to get support.

Monero looking gear up to follow?

The only privacy coin not showing such strength is Monero (XMR).

XMR USD 1-day chart. Source: TradingView

Monero is showing some signs of strength, as the toll of Monero broke a 7-month erstwhile downtrend to the upside. Aside from that, the level of $55 was successfully broken to the upside.

Equally long as Monero holds the $55 area equally support, continuation towards $100 is likely to occur.

XMR BTC 1-solar day chart. Source: TradingView

Interestingly enough, the BTC pair is not showing the same force. The price of XMR in BTC was rejected at 0.00765 satoshis and is currently seeking for new support. The most critical level to watch is the 0.0068 satoshis level.

If the 0.0068 satoshis level flips as support, the price of Monero would exist aiming the resistance area around 0.00765 satoshis once more. Another test would probable lead to a breakout to the upside. If Monero breaks through the 0.00765 satoshis area, a rally towards 0.01 or 0.012 is on the table.

Bitcoin forks moving along

The privacy coins are showing strength. However, the Bitcoin forks are showing a similar move in the recent period. Bitcoin Cash has seen a surge of 80% in the by two weeks.

BCH USD 1-day chart. Source: TradingView

BCH has been hovering effectually $270 for a few days, before information technology bankrupt through this significant resistance, aiming for the next targets. These targets are constitute at $325 and $360 hither.

It's interesting whether the daily timeframe tin can close above the $325 area. If the toll can exercise that, a new rally towards the higher target is ready to occur.

BCH BTC 1-twenty-four hours chart. Source: TradingView

The BTC pair of Bitcoin Cash shows a breakout of the half dozen-calendar month old range. The cost of BCH moved towards the adjacent resistance expanse at 0.038, which is existence tested every bit we speak. A retest of the 0.033 surface area would grant a new support/resistance flip, which is needed for further continuation to the upside.

Bitcoin SV surged more 300%

BSV USD 1-day chart. Source: TradingView

The USD chart of Bitcoin SV is showing signs of the erstwhile cryptocurrency market, and it surged more than 300% in less than a month.

We currently broke the highs from last summertime and are making a huge wick. If the cost can close above the all-time highs, continuation is probable. However, if the daily timeframe tin't shut above this area, we could see a correction towards $175 or $235.

BSV BTC one-day chart. Source: TradingView

The BTC chart of Bitcoin SV is showing a similar structure, through which the all-time highs are currently being broken.

First, the toll broke through the resistance at 0.016 satoshis, flipped the 0.0188 satoshis level as support, and pumped towards the highs effectually 0.028 and 0.03 satoshis.

A retrace wouldn't be unhealthy, and then the levels of 0.03 and 0.027 satoshis are the first areas to watch.

Overall, stiff bullish momentum is going on with the altcoins. Still, Bitcoin and Ethereum didn't make a college high, which is heavily needed for the residuum of the altcoins to follow. Until then, enjoy these movements!

The views and opinions expressed here are solely those of the writer and do non necessarily reflect the views of Cointelegraph. Every investment and trading move involves adventure. Yous should behave your own research when making a conclusion.

Source: https://cointelegraph.com/news/dash-price-up-70-bsv-gains-200-is-a-price-correction-imminent

Posted by: jordanfriess50.blogspot.com

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