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- 1 As per Bitcoin SV Price Prediction (CRYPTO: BSV), the coin price decreased by 2.04% over the last 24 hours.
- 2 At press time, Bitcoin SV coin is $42.56 and the 52-week price range is $23.85 – $61.90.
Bitcoin SV (BSV) is a digital currency and a payment network that says it follows the original idea of Bitcoin as a system for direct online payments. It came from a split of Bitcoin Cash (BCH) in 2018, which itself was a split of Bitcoin (BTC). It wants to offer speed, stability, and business-level applications by removing limits on block size and re-activating script commands.
As per Coinglass, Bitcoin SV has $10.02 Million Open Interest and recently showed a decline of -4.91% in the last 24 hours. The 24-hour long versus short ratio is 1.0076. The total number of short positions added in the last 24 hours is $12.85K against longs of $29.09K. Moreover, the average volume of the Bitcoin SV coin declined by 52.04% and the volume is at $40.71 Million.
This month BSV coin performed well as it was up by 41.27% and its year-to-date return saw an increase of 3.28% However, Bitcoin SV price was slightly down by 2.51% over the last six months.
Bitcoin SV Price Technical Analysis in 1-D Timeframe
As per the price action, the BSV coin price bounced back from its all-time low at $23.85 in mid-June by forming higher highs and higher lows and reached a peak of $54.11 quickly in about two weeks.
However, in the last few days, the price broke the higher highs pattern as it faced resistance from a strong supply zone near $54.11. At the time of publishing, BSV traded at $42.59. Furthermore, the price is above all major EMAs as well. More upward movement is expected in the coming weeks.
At the time of publishing, the BSV coin price (CRYPTO: BSV) is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average). The EMAs are supporting the price trend. Hence, the coin is expected to move upwards giving bullish signals over the daily time frame chart.
The MACD line at 3.675 and the signal line at 3.498 are above the zero line and gave a bullish crossover, suggesting bullishness. The current value of RSI is 59.08 points and the 14 SMA is above the median line at 65.77 points. It seems the price is consolidating and the RSI line took rejection from the 14 SMA line and since the price is still in bullish territory, the bulls are still in the race.
Conclusion
The Bitcoin SV price prediction highlights that the sentiments and perspectives of investors and traders regarding the Bitcoin SV coin price are bullish in the 1-D time frame. The Bitcoin SV price action reflects an optimistic view at the time of publishing. Moreover, the technical parameters of the Bitcoin SV price suggest the continuation of the uptrend over the daily time frame chart. Major legitimate indicators MACD, RSI, and EMA, flaunt positive signals about the Bitcoin SV coin price.
Technical Levels:
- The nearest support: $34.68 and $23.85.
- The nearest resistance: $53.95 and $64.34.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
