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Bitcoin SV, Algorand, BitTorrent, Enjin Coin Price Analysis: March 31st

Bitcoin SV bulls will have to defend the USD 204.10 support in the coming sessions to avoid another collapse on the charts. Algorand fell to $ 1.17 while BitTorrent broke the bearish sentiment and continued its uptrend. Finally, Enjin Coin is expected to stay between $ 2.66 and $ 2.02 in the short term.

Bitcoin SV [BSV]

Source: BSV / USD, TradingView

The price of Bitcoin SV has recovered in the last few days, but without strong buying pressure. This was most obvious OBV struggling to recover since BSV fell towards the $ 189.2 support.

In fact, OBV is down at the time of writing and the bulls may need to defend the $ 204.10 level ahead of the bears. The Ingenious oscillator registered two bars in a row as momentum shifted towards the sell side. Additional levels of support could be at $ 197.1 and $ 189.2 if the price collapses in the upcoming sessions.

Algorand [ALGO]

Source: ALGO / USD, TradingView

Algorand was penetrating deep into the red area at press time, posting losses of nearly 8% in the past 24 hours. Trading volume spiked and almost halved as price reversed from the $ 1.42 resistance. A bearish crossover in the MACD pointed to additional losses in upcoming sessions and a dip below $ 1.23 support also seemed likely.

The RSI moved below the cap after it was indicated that ALGO was actually overbought at $ 1.4. A decline towards $ 1.17 or even $ 1.1 could offer some opportunities to take a long position at a reduced price. However, stabilizing at lower levels would allow the price to rise above the $ 1.42 mark in the long run.

Bit torrent [BTT]

Source: BTT / USD, TradingView

A doji candlestick appeared in BitTorrent’s 4 hour period, indicating a decline after the price broke north of its $ 0.0038 resistance and showed a strong upward move. Even so, the 24-hour trading volume showed strong trading activity and stood at $ 4.7 billion at the time of writing.

Although the RSI moved a little lower, settling in the overbought region and pointing to an expanded bullish scenario. While OBV noted some selling pressure, expect the bulls to overcome bearish pressure. In the event of a pullback, the initial level of support was $ 0.0046.

Enjin coin [ENJ]

Source: ENJ / USD, TradingView

The range between $ 2.66 and $ 2.02 has been largely in focus since Enjin Coin was traced from record highs. The OBV was quite a long way from the levels it once saw during the Crypto-Asset’s ATH, suggesting buyers were taking a breather after a strong uptrend that lasted 15 days.

The Chaikin cash flow slipped under half the line as capital moved away from ENJ. However, the bulls should protect the USD 2.02 support from additional losses. For a bullish comeback, the bulls must recapture the $ 2.68 and $ 2.84 levels.

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