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- 1 Bitcoin SV Price Prediction foresees a strong challenge for the bulls.
- 2 The Bitcoin SV price has gained 40% within the last 7 days.
The Bitcoin SV price prediction indicates that the bulls have crossed the threshold of 200 EMA on the daily timeframe which is where the sellers were overwhelming the buyers.
According to the price action, the Bitcoin SV token price has breached the resistance levels provided by the 100 and 200 EMAs. Presently, the BSV token is observing a bullish trend while jumping above the major crucial levels. With the support from the 200 EMA and overbought signals from the oscillators, everything suggests that the bulls are ready for a rally to a new high.
Bitcoin SV is a full node implementation for Bitcoin Cash (BCH). The SV stands for Satoshi vision. Craig Wright is the creator of Bitcoin SV.
Bitcoin SV token price was at $48.15 and has gained 10.96% of its market capitalization during the day trading session. Trading volume has increased significantly around 146% during the intraday trading session. This demonstrates that buyers are trying to push BSV crypto over the charts. Volume to market cap ratio was at 0.4588.
Bitcoin SV Price Prediction: Technical Indicators
The technical indicators are giving an edge to the bulls. The stochastic RSI is moving near the overbought level on the daily chart whereas the RSI oscillator is mimicking the price action. The price of Bitcoin SV coin forms a short consolidation channel above the 200 EMA. These technical parameters are giving a strong indication of a bullish turn. Essentially, the buyers might prefer to practice caution as according to Bitcoin SV price prediction, the price faces a crucial resistance.
The current RSI value of the Bitcoin SV coin is 72.72 points, with strong positive slopes in it. The 14 SMA is providing support to it near 50.93 points.
The % K line and %D lines are taking a reversal near the overbought level. The current value of the stochastic RSI is 80.66 points.
Conclusion
According to the analysis, price prediction for Bitcoin SV suggests that bulls can soon push the price in future . In the price action, there are 5 parameters that are supporting the buyers on a daily time frame – consolidation, price action, EMA, oscillators, and market structure. If the sellers succeed in their attempts, there is a strong probability that the price will lose 35% of its value in the near future.
Technical Levels:
Support -$40.00
Resistance – $52.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
