Bitcoin SV (BSV) Analysis: Bitcoin SV Price Develops Compelling Sustainability Above $200

Bitcoin SV Price Levels Built strong stability Above $200 during Current Market Session
  • Bitcoin SV price levels were able to have a quick positive bounceback above $200 after facing a negative trend for the past couple of days
  • During the current market session, the price levels ensured sustainability above the crucial mark of $200
  • The BSV/BTC pair also remained positive with an overall gain of 5.87% bringing the current level to 0.005511 BTC 
Source: Coinmarketcap

The weekly performance of Bitcoin SV highlights the volatile nature of the price levels which included testing of critical resistance zone of $300. The digital asset faced significant negative reversals since then causing a negative breakout below the crucial mark of $200 and allowing the major support level of $190 coming to play. The support level did provide bullish bounceback resulting in a positive breakout above the crucial mark of $200. The CMP is placed at $212.73 with an overall gain of 5.10% bringing the market capitalization to $3,918,167,606. The 24-hour volume traded has reached $1,335,370,856 causing a decline of 35.14%. 

Bitcoin SV Forming Rising Channel Pattern on Technical Chart 

Source: Tradingview

The technical chart of Bitcoin SV highlights the volatile momentum of the price levels creating a new 52-Week high of around $300 and thereafter retracing back losing all the gained bullish levels. The support level of $190.00 placed below 0.786fib level provided bullish come back to the crypto asset forming a rising channel pattern. The 20-EMA also had a positive crossover against 50-EMA providing bullish signals for the digital asset. 

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The relative strength index (RSI) also showcased positive nature while standing at 59.78 and looked for a positive breakout to the overbought region.  

The moving average convergence & divergence (MACD) also formed a bullish crossover and the levels looked to climb above the histogram line. 

The commodity channel index also showcased positive nature while standing at 180.33 and looked for a positive breakout to the overbought region. 

Resistance Level: $220.00

Support Level: $190.00 & $175.00 

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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