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- 1 Bitcoin SV price (BSV) surged 10.25% in the last 24 hours and currently trades at $37.23.
- 2 BSV crypto price bounced back from the 50-day EMA and surged above the 200-day EMA.
- 3 The Bitcoin SV price is headed upward following a positive trendline support.
Bitcoin SV price trades with an intraday gain of over 10% today indicating bullish dominance in the short term. The intraday gain is supported by a 292.15% rise in volume indicating a high volume inflow. The BSV price rebounded from the 50-day EMA to resume with a bullish outlook in the short term.
Moreover, the BSV daily chart analysis elaborates that the crypto price has been witnessing buying from lower levels since mid-September when the crypto price bottomed out. Thereafter, the price struggled to break above the 50-day EMA after which a price spike of over 20% was observed on the charts.
Recently, the BSV crypto price experienced some profit booking after a 20% price hike and it fell near the 50-day EMA. The 50-day EMA acted as a dynamic support and the price hiked again after a short accumulation.
The volume analysis shows that the Bitcoin SV crypto price has a trading volume of $84.07 Million in the past 24 hours which is 294.49% more than the last day. The crypto has a market cap of $711.7 Million and ranks 48th in the crypto market. The volume-to-market-cap ratio is 8.31% indicating mild volatility in the market.
Bitcoin SV Price Took Support From Positive Trendline
The Bitcoin SV price currently trades at $37.23 with an intraday gain of 10.25%. The BSV price bounced back from the 50-day EMA indicating bullish dominance in the short term. The price might gain more and surge to test sellers’ strength at the upper levels.
Moreover, the price trend will support the bulls until it is maintained above the trendline support. The breakdown below the trendline might trigger a selloff and the price may decline to the lower levels.
Technical Indicators Show Bulls Regaining Momentum
RSI is showing a positive crossover of the EMA. Moreover, the RSI line is headed upwards getting multiple support of the SMA line indicating the bulls regaining momentum.
The EMA analysis shows that the BSV price rebounded from the 50-day EMA indicating the dominance of bulls in the short term.
Conclusion
Bitcoin SV price is up 10.25% at press time with a high volume inflow. The price bounced from the 50-day EMA and resumed the bullish trend. The price may rise further and test the resistance levels. The price is supported by a trendline and may fall if it breaks below it.
BSV has a market cap of $711.7 Million and ranks 48th in the market. The volume-to-market-cap ratio is 8.31%; indicating mild volatility. The price currently trades at $37.23.
Technical Levels
- Support Levels: $33.83 and $32.00.
- Resistance Levels: $39.43 and $44.30.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
