Bitcoin SV price Movement Overview
Bitcoin SV pulled back from the 30-month high marked above $200 at $216 on the daily chart and is ranked amongst the market’s top 15 cryptos. Although the hard fork of BCH is seen trading as the most lucrative cryptos of the market, we cannot ignore the fact that the BSV price was trading with a flattish momentum over the past ten weeks until the bullish crossover that took place seven days back.
Alongside, the Bitcoin SV is still failing to reclaim the lost YTD high that it marked at the onset of the ongoing year at $458 due to a lack of steady traction. Bitcoin SV forked out of BCH coin maintains almost a similar momentum as the latter and is failing to trade in green in the intraday. Bitcoin SV, the platform is worth the investor’s eye to notice that it is here to eliminate BTC and BCH limitations.
Follow the technology. #BSV has built the most powerful data network. It will eventually scale larger than Google – for a fraction of the cost. Think of the possibilities that this creates! It will wipe out the need for Cloud, as it will outperform for a fraction of the cost. https://t.co/bqUVGJD1Yx
— Robin deLisser ✪ (@deLisserRobin) November 26, 2020
Having said that, it is believed that Bitcoin SV has the most powerful data network, which is believed to scale massively in comparison to Google. As per the recent BSV news updates, It is likely to outperform all the services provided by Google and hit the industry’s significant chords, removing the need for Cloud. The Bitcoin SV blockchain is definitely one of the most lucrative despite its native coin’s nosediving price.
Bitcoin SV Price Analysis
At the press time, BSV price was spotted at $160.5 after having hit the 3-month resistance at $216 at the onset of the week. However, failing to keep up, Bitcoin SV price pulled back by 25.9% as the market lost its gaining spree and turned bearish. With a steep correction to the above daily chart, BSV/USD is holding no support from the 50-day and 200-day MA.
The MACD indicator that was holding the slightest bullish crossover then when the price of the coin rose to a 3-month high is now moving towards the bearish divergence as the signal line is likely to cross above the MACD line. The RSI of BSV coin is seen declining from the overbought zone due to a price slash from the 3-month high, currently lies at 45.70.