- Bitcoin SV is all set to break the crucial mark of $200 again in the market with a positive move.
- Currently, it is having an upsurge of 1.00% and expected to build a bullish rally from here.
- However, its sustainability above the price mark of $200 remains in doubt.
Bitcoin SV has been building strong price growth rallies in the market for the past two months besides bearish momentum faced at regular intervals. Currently, BSV is on the verge to break above the mark of $200 with the current price of $199.92. The crypto asset is having a positive rally of 1% in the market.
However, the past price records indicate that the sustainability of BSV above the level of $200 is very poor. The crypto asset made a bullish momentum to the price level of $220 before facing a significant downfall to the level of $180. This also indicates that after crossing the level of $200, BSV’s volatility increases, and investors show to keep that in mind.
Bitcoin SV Trends Analysis
The technical charts reflect on the significant bullish momentum build by BSV which is followed by price corrections at regular intervals. The price correction has been the result of BSV going above the price level of $200. This also means by crossing a $200 mark, the crypto asset usually faces profit booking activity.
The RSI is sloping down from the strong level of 60. This also doubts the crossing of $200 for BSV.
The MACD levels, however, have reached a bullish zone which means that there is still significant buying volume for the crypto assets in the market.
The CCI had a negative divergence from the overbought region to avoid any sort of volatility and is prevailing in the normal territory. This can also ensure that BSV crosses the crucial mark of $200.
Resistance Level: $220
Support Level: $190 and $180