- 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
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
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.
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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