Price Analysis

Bitcoin SV (BSV) Pulls Back to $210 Yet Holds an Opportunity for a Rebound

  • Bitcoin SV, at the time of writing this analysis, was trading at $210 after hitting an 8-week long resistance at $229 over the past 2 days
  • BSV/USD retains support from 50-day MA on both 12-hourly and 4-hourly chart while lacking 200-day MA support on the former
  • BSV coin slid below 38.20% Fib Retracement level after it pulled back below $229. YTD support lies at $83.68, until the time of writing

Bitcoin SV price trend looks accumulating yet draws a fine uptrend with intermittent spikes but fails to rise above $230. The last time BSV coin was trading above $230 was 8 weeks back, and now that the market has gained the lost traction, $230 remains the foremost target.

Bitcoin SV Price Analysis

Bitcoin SV News
BSV/USD Chart By TradingView

On a 12-hourly chart, BSV price lost 200-day daily MA support after it slid below $229 to $210 and alongside slid below 38.20% Fib Retracement level. It was just two days back when the market was pumped with great momentum, and BTC notably crossed above $9k while currently trades with a slight pullback around $8.8k. The major resistance to look out for lies at $230 while the major support lies at $205 and $200 to welcome a bearish consolidation. Therefore, the current movement does not strike like a bearish crossover, so far after the pullback.

BSV News

Whereas, on the 4-hourly chart, Bitcoin SV is drawing a fine uptrend with steady support from 50-day and 200-day MA at $198 and $188, respectively. Yet, we do not project the price of BSV to dip below $200 any soon as we have already entered the month of Bitcoin halving, and its time for the market rejoice as the most influential crypto gains the pace.

The technicals also appear moderately bullish with an intermittent pullback, we see MACD diminishing the gains, yet an intraday price hike can lead to a positive crossover again.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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