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- 1 As per Bitcoin SV Price Prediction (CRYPTO: BSV), the coin price decreased by 4.19% over the last 24 hours.
- 2 At press time, the Bitcoin SV coin is $35.75 and the 52-week price range is $18 – $56.
Bitcoin SV coin (BSV) is a type of digital money and a network for online payments that claims to follow the original vision of Bitcoin as a system for direct transactions. It emerged from a split of Bitcoin Cash (BCH) in 2018, which itself was a split of Bitcoin (BTC). It aims to offer fast, stable, and business-level applications by removing restrictions on block size and re-enabled script commands.
The maximum M.C. of Bitcoin SV (BSV) is $753,189,895, assuming that all 21 Million BSV tokens are available today. This is a hypothetical calculation of the full potential value of BSV tokens. According to Coingecko, a website that provides crypto data and information, the actual market cap of BSV tokens may depend on how they are distributed over time.
Bitcoin SV crypto plummeted 4.41% in market value and surged by 1.85% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $689,373,813 and its trading volume is $34,485,307. There are 19,266,077 BSVs in circulation.
Bitcoin SV coin (BSV) open interest is $9.55 Million, as per Coinglass, which is a crypto analysis website, it fell by 6.18% in the previous session. The long versus short ratio for 24 hours is 0.8242. The total number of short positions added in the last 24 hours is $2.06 K against longs of $219.53 K.
Moreover, the Bitcoin SV coin showed good performance this month, as it was up by 3.05% but fell by 16.32% in the past six months, showing underperformance. Also, the year-to-date return of BSV coin price is negative with a 13.42% decline.
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 $35.75, and a bearish pattern is observed known as the head and shoulder pattern.
Furthermore, the price is below all major EMAs as well. More downward movement is anticipated in the coming weeks from the neckline of the pattern and might reach $25 in an upcoming downtrend.
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 rejecting the price trend. Hence, the coin is anticipated to move downwards giving bearish signals over the daily time frame chart.
The MACD line at 0.20220 and the signal line at 0.37399 are below the zero line and gave a bearish crossover, suggesting bearishness. The current value of the RSI is 43.70 points and the 14 SMA is below the median line at 48.10 points the RSI line took rejection from the 14 SMA line indicating downward movement.
Conclusion
The Bitcoin SV price prediction highlights that the sentiments and perspectives of investors and traders regarding the Bitcoin SV coin price are bearish in the 1-D time frame. The Bitcoin SV price action reflects a pessimistic view at the time of publishing. Moreover, the technical parameters of the Bitcoin SV price suggest the continuation of the downtrend over the daily time frame chart. Major legitimate indicators MACD, RSI, and EMA, flaunt negative signals about the Bitcoin SV coin price.
Technical Levels:
- Support levels: The nearest support levels are $34.68 and $23.85.
- Resistance levels: The nearest resistance levels are $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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
