Bitcoin SV had been on a downtrend for the better part of August; Algorand showed signs of lowered volatility and pointed toward consolidation. Steem registered large moves both upward and downward, and indicated where good trading opportunities were.
At press time, price was trading just below level $0.54, which has had significance in the past few days. Bollinger bands showed constriction. Trading volume was also decreasing. The squeeze indicated decreased volatility, and usually the asset makes a strong move up or downward after the squeeze.
Bitcoin SV [BSV]
BSV showed it could have ended its downtrend as it stepped outside the trendline (white). This could lead to a period of consolidation, with zone of support at $180.
RSI showed a value of 53 and had been vacillating about the neutral 50 line for a few days.
It is also possible BSV is facing seller pressure and could lose support in the coming days, since BSV has been in a downtrend for the whole of August.
STEEM stepped out of a range from $0.2 to $0.22, to test level $0.27, and got rejected. STEEM revisited $0.22 support, but subsequent attempts to reach local highs were met with failure near $0.26 zone.
At press time, STEEM was trading at $0.2357. MACD showed a buy signal. However, 50 EMA (yellow) had crossed beneath 100 EMA (pink) to signal short-term bearishness.
Taken together, the best trading opportunites lie at the ends of the range, that is, at $0.22 and $0.26 levels
The post Algorand, Bitcoin SV, Steem price analysis: 30 August appeared first on AMBCrypto.