John Todorov, senior trader at dagx.live, said that Binance Coin (BNB) dipped below the 20-day EMA, which triggered our stop loss suggested in the previous analysis. While the price dipped below the 20-day EMA, it could not sustain below it, which shows buying at lower levels. The bulls will again attempt to resume the uptrend that has a target objective of $46.1645899 and above it $50, thinks Todorov from dagx.live. With both moving averages sloping up and the RSI in positive territory, the path of least resistance is to the upside.
The only bearish point on the chart is the negative divergence on the RSI. If bulls fail to sustain above $40, the BNB/USD pair might consolidate between $28 and $40 for the next few days. The uptrend will weaken if the price breaks down of the 50-day SMA. A breakdown of $28 will indicate that bears have the upper hand and a change in trend is likely.
Bitcoin SV (BSV) has been trading near the lifetime highs of $255.620 for the past four days. This is a positive sign because it shows that bulls are not keen on booking profits yet as they expect another leg up, thinks Todorov.
Both the moving averages are sloping up and the RSI is close to overbought zone. This shows that bulls have the upper hand, thinks Todorov from dagx.live. The next leg of the up-move will start on a breakout and close (UTC time frame) above $255.620, which can propel the BSV/USD pair to $307.789 and above it $340.248. On the other hand, if the bears sink the pair below the uptrend line and the 20-day EMA, it will lose momentum and can plummet to the 50-day SMA. Todorov from dagx.live will wait for the price to make a new high and sustain it before proposing a long position in it.