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- 1 Bitcoin SV price prediction will turn highly bullish if buyers succeed in breaking $50.
- 2 BSV price surged 14.84% in the last session.
- 3 Bitcoin SV crypto price is sustaining above the 50-day and 200-day EMA.
Bitcoin SV price prediction favors the bulls and suggests a significant rise in the value is possible in the coming months.
BSV price holds the $30.00 support and surged 14.84% in the previous session. It formed a giant bullish candle and seems to be getting ready for the $40.00 breakout.
Bitcoin SV price managed to climb above the 50-day and 200-day EMA. It showcases short-term trend as well as positional trends reversing in the upward direction.
In the past two months, BSV price had consolidated in the range between $27.845 to $35.00. It formed a short-term base and absorbed the selling pressure.
Recently, it broke out of the higher range hurdle which triggered the positive sentiment and boosted the confidence of investors.
At the beginning of October, BSV crypto price attempted to break the $40.00 hurdle. Sadly, sellers were active so the breakout failed and the price reverted down. However, the price did not decline much and buyers are coming forward to push the price higher.
Bitcoin SV price is trading at $37.827 with an intraday decline of -2.93%. The 24-hour volume to market cap is 35.13%.
Will Bitcoin SV Price Continue the Rally?
Bitcoin SV price prediction is bullish for the long term. But the price will pick up momentum when buyers are able to break the $40.00 hurdle. The recent upmove in the BSV crypto looks reliable and the price is likely to sustain higher levels.
Till Bitcoin SV crypto price sustains above $35.00 bulls will remain active and recovery might continue. However, at present, the price is near the supply zone. So, it will be interesting to see how the price reacts in the coming session.
The technical analysis suggests that BSV price is in the bulls’ grip and more upside is pending.
Does BSV Price Look Cheap at Current Levels?
BSV price turning bullish on the multiple time frames. The buyers look more active as compared to sellers and buying volume is also on the rise. It shows that they have turned bullish and are accumulating Bitcoin SV crypto at a cheaper price.
The MACD curve sustained above the zero line and displayed a positive crossover. The histogram bar is also on the rise indicating the strength of the bulls. The RSI at 61 also indicates strength and positive momentum is likely to continue.
Conclusion
Bitcoin SV price prediction favors the bulls and suggests a rise in the coming months. The recent up move in BSV price looks reliable so the probability of a $40.00 breakout remains high.
The analysis suggests if buyers succeed in breaking the $40 hurdle then the price might begin the journey to reach $50.
Technical Levels
- Resistance levels: $40.000 and $43.382
- Support levels: $32.000 and $28.000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. 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.
