Bitcoin SV, Stellar, VeChain Price Analysis: 16 September

Apart from Bitcoin, all major altcoins have been revised sharply in the past 24 hours, and it seemed like the devaluation would only get worse from now on. Bitcoin has seen its price jump over 1.6 percent in the past 24 hours and is now trading at $ 10,871.

Source: CoinStats

Bitcoin SV, Stellar and VeChain have also been in decline in the last few hours and rode with the bears for the time being.

Bitcoin SV (BSV)

Source: BSV / USD on Trading View

Bitcoin SV price has worsened since dropping below $ 200. The asset tried to maneuver up but the selling pressure on BSV was strong. At the time of going to press, the token represented a descending triangle pattern, indicating further bearish movement.

Bitcoin SV had a market cap of $ 3.01 billion at press time with a constant trading volume of $ 1.11 billion last day. The 50 moving average was held as overhead resistance on the 1 hour chart.

The Relative Strength Index or RSI indicated increasing selling pressure on the charts and Chaikin Money Flow or CMF indicated that capital inflows were gradually falling and capital outflows were increasing on the charts.

Stellar (XLM)

Source: XLM / USD on Trading View

Now, last day, Stellar is down 2.58 percent on the charts, but in the past few hours, XLM seems to be trying to make a comeback. The 17th crypto asset is trying to move above the 50 moving average, but that seems unlikely at the moment. With a market cap of $ 1.62 billion, XLM's trading volume last day was extremely low at $ 178 million.

XLM's Bollinger Bands indicated higher volatility at press time, but the bands appeared to be converging at press time, indicating a decreased period of volatility for the next several hours. However, Chaikin Money Flow, or CMF, suggested that capital inflows continued to rise on the charts and were always one step ahead of capital outflows.

VeChain (vocational training)

Source: Vocational Education / USD on Trading View

Ultimately, VeChain saw a market decline of 3.59 percent, which came with a market cap of $ 796 million. VeChain took 26th place in the charts as the token continued to suffocate under declining momentum. With the price falling to $ 0.0122 at press time, market capitalization remained at $ 796 million with a trading volume of $ 146 million.

The market indicators were also bearish in line. The MACD line floated below the signal line, indicating strong bearish pressure, while the dotted parabolic SAR line stayed above the candlesticks. Bollinger bands appeared in parallel to each other, indicating continued volatility.

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