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Bitcoin Cash was trending after the multisig transaction was carried out . The Free Ross Ulbricht campaign has also spurred the growth of Bitcoin Cash. According to CoinMarketCap, BCH stood fourth on the list of top cryptocurrencies, with a market cap of $7.12 billion and a 24-hour trading volume of $3.25 billion. BCH rose by 2.16% over 24 hours, at press time.
Bitcoin SV stood sixteenth, with a price of $62.43 and market cap of $1.11 billion. At press time, it had a 24-hour trading volume of $167.29 million. BSV saw a dip of 2.29% during the 24-hour cycle.
1-Day BCH Analysis
The resistance line stood at $418.4, and the three support lines were at $279.0, $157.1 and $112.3. The first uptrend started at $171.5 and ended at $319.9, while the second one extended from $259.3 to $387.
Source: TradingView
Bollinger Bands showed an increased rate of volatility in the market and the moving average line was below the candles, depicting bullish trend.
Awesome Oscillator displayed a bullish buying opportunity as the short-term momentum in the market was greater than the long-term momentum.
Chaikin Money Flow suggested that money was flowing into the market.
1-Day BSV Analysis
Resistance lines stood at $97.36 and $87.24 and the support line stood at $55.06. The first downtrend saw a change in price from $96.16 to $78.84 and the second downtrend started at $88.85 and ended at $72.09.
Source: TradingView
Bollinger Bands indicated growing market volatility
Awesome Oscillator presented that the short-term momentum was greater than long-term momentum, indicating a bullish buying opportunity.
Chaikin Money Flow indicator was just below the zero-line. This indicated that money flowing out of the market was marginally more than money moving into it
Conclusion
While BCH continued its bullish resurgence, BSV struggled to keep up pace with the general bullishness of the collective market.