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- 1 Bitcoin SV price (BSV) surged 30.51% in the last 24 hours and currently trades at $56.04.
- 2 BSV crypto price has gained over 60% in the past five intraday sessions.
- 3 The Bitcoin SV currently holds a market cap of $1.07 Billion.
Bitcoin SV price has topped the list of gainers among the top 100 cryptos. The BSV crypto price has lifted off Over 30.51%. Bulls are in complete dominance and are thirsty to surge the price to a higher level.
Moreover, the Bitcoin SV crypto price has been showcasing a bullish outlook since the price bounced back from the 50-day EMA and broke out of the 200-day EMA with a very bullish candle.
The price trend analysis shows that the BSV crypto headed higher respecting positive trendline support and broke above the key EMAs thus turning the short-term trend optimistic. Thereafter, the sellers attempted to drag the price lower but failed to break below the 50-day EMA.
The volume analysis shows that the Bitcoin SV crypto price has a trading volume of $350.855 Million in the past 24 hours which is 73.55% more than the last day. The crypto has a market cap of $1.065 Billion and ranks 40th in the crypto market. The volume-to-market-cap ratio is 31.41% indicating high volatility in the market.
Bitcoin SV Price Nearing Major Supply Zone
The Bitcoin SV price currently trades at $56.04 with an intraday gain of 30.5%. The crypto price has a major supply zone above $60 up to which the crypto price may gain.
The supply zone might be a crucial zone for the bulls as the bears may try to get in at the level. The short-term gain may also trigger a profit booking and the price may experience a fall.
Furthermore, if the price continues with momentum and bulls dominate near the supply level, then it may surpass the immediate supply zone and surge higher. However, It depends on the current buying volume in the market.
Technical Indicators Shows Price Entering Overbought Zone
RSI is showing a positive crossover of the EMA. Moreover, the RSI has entered an overbought region indicating a possible selloff may occur and the price may decline to lower levels.
The EMA analysis shows that the BSV price rebounded from the 50-day EMA and surpassed the 200-day with high volume indicating a
Conclusion
Bitcoin SV price has surged over 30% and topped the list of gainers among the top 100 cryptos. The price has broken above the key EMAs and turned bullish. The price has a major supply zone above $60 that may attract sellers. The price may fall if the buyers’ book profit or the sellers dominate.
The price may gain more if the buyers maintain momentum and volume. The price has a positive trendline support and a 50-day EMA support. The volume-to-market-cap ratio is 31.41% indicating high volatility.
Technical Levels
- Support Levels: $38.9 and $32.07
- Resistance Levels: $51.86 and $63.2
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.
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.
