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- 1 The Bitcoin SV crypto price faced resistance and decreased by 6.04% over the last week.
- 2 The price of the BSV crypto is trading at $26.31 and the 52-week range is $18 – $56
Bitcoin Cash is a version of Bitcoin BSV follows the original plan of Bitcoin as written by Satoshi Nakamoto. BSV provides speed and reliability for online money and business blockchain uses. BSV has no limit on block size and allows advanced functions such as tokens, smart contracts, and computation. BSV is the closest to the original Bitcoin design.
Bitcoin SV crypto plummeted by 3.82% in market value and surged by 11.59% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and information website. Its market value is $557,013,160 and its trading volume is $16,078,393. There are 19,266,077 BSV in circulation.
Bitcoin SV (BSV) open interest is $7.23 Million, as per Coinglass, which is a crypto analysis website, it fell by 4.86% in the previous session. The long versus short ratio for 24 hours is 0.9897.
Technical Analysis of BSV Crypto in the 1-Day Timeframe
The BSV crypto price has been plummeting for the last month by 19.66%, losing its value and creating lower highs and lows and descending.
The BSV crypto price is facing a lot of selling pressure and dropping every day. The bears are dominating and the price is not able to recover and follow trendline resistance. The 50.00% fibo level or $50 was breached in August 2023 and descended significantly.
The BSV crypto price might keep falling and reach or break the support levels of $27 and $23 if it does not maintain the current level and drops more.
On the other hand, if the price holds at the CMP level and breaks above the trendline, then it might reach the nearest target resistance levels of $34 and $40.
At the time of publishing, Bitcoin SV (BSV) is trading below 20, and 50 EMA, showing bearishness on daily charts. RSI is around 35, turned bearish and MACD indicates bearishness to consolidation. Collectively, the indicators’ view is bearish.
Conclusion
The BSV crypto price prediction shows a negative outlook and a lack of confidence from investors and traders in the daily time frame. Bitcoin SV price action reveals a downward trend at the time of writing. Moreover, the daily chart shows that the price will keep going down, according to the most trusted and widely used technical tools such as RSI, EMA, and MACD.
Technical Levels:
- Support levels: $27 and $23
- Resistance levels: $34 and $40
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
