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LINK, BSV and LEND Price Analysis for August 19

Can altcoins get out of the correction phase faster than Bitcoin (BTC)?

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Cover image via www.tradingview.com

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After attempts to continue the growth of the market, bears have seized the initiative as all Top 10 coins are in the red zone. If yesterday the main loser was Chainlink (LINK), today it is Bitcoin SV (BSV), whose rate has declined by 7.94%.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The relevant data on Chainlink (LINK), Bitcoin SV (BSV) and Aave (LEND) today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Chainlink 

LINK

$5,802,025,688 $16.58 $3,104,377,076 -2.97%

Bitcoin SV

BSV

$3,905,739,046 $211.21 $1,003,899,546 -7.94%

Aave

LEND

$715,631,700 $0.550486 $83,467,231 -7.52%

LINK/USD

Chainlink (LINK) is not as bearish as yesterday; however, the altcoin is still located in the "short" zone. The price drop over the past 24 hours has been almost 3%.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

On the daily chart, Chainlink (LINK) is bearish after a failed attempt to reach the $20 mark. The liquidity level is low, which means that traders are not interested in purchasing the coin at the current prices.

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On the contrary, the trading volume is at a relatively high level. However, it is mostly dominated by bears. A decline to the support area of $13.65 is likely to occur.

Chainlink is trading at $16.50 at press time.

BSV/USD

Bitcoin SV (BSV) has faced a much more profound decline. The rate of the BCH's fork has decreased by almost 8% since yesterday, while the price change over the last week has accounted for +1.65%.

BSV/USD chart by TradingView
BSV/USD chart by TradingView

Bitcoin SV (BSV) has been trading within the falling channel since the beginning of August, and bulls have not shown any resistance so far. Despite the fact that the liquidity level is high, the trading volume is at its lowest position. What's more, the MACD indicator is in the red zone, which confirms the continued price drop of Bitcoin SV (BSV). The decline may last until the coin reaches the support level at $175. This may happen in September.

Bitcoin SV is trading at $209.81 at press time.

LEND/USD

Aave (LEND) has also followed the bearish mood of the cryptocurrency market and turned red. The price of the popular DeFi token has gone down by 7.52%.

LEND/USD chart by TradingView
LEND/USD chart by TradingView

On the daily chart, Aave (LEND) has been located in the ascending channel since the start of summer. At the moment, bears have seized the short-term initiative. However, it is likely to be just a correction and not the start of a bearish trend. The divergence on the RSI indicator confirms the upcoming price drop, which may last until the coin attains the support at $0.4777.

Aave us trading at $0.5589 at press time.

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com