Price Analysis

Bitcoin SV Trades Above $105; Gains Support from Short-term MA

  • BSV coin trades at $107.2, having grown by over 13% from yesterday’s closing, i.e., $94.52
  • Just when Bitcoin price took a step above $7,000, Bitcoin SV soared as high as $110.59
  • Similarly, BSV trades in selling zone until a persistent trade above its 7-day high price takes place

Bitcoin SV (BSV) has grown by over 6% in less than 24 hours from yesterday, trading around the price area of $100 to currently hovering around $107. Within the same time frame, the coin has recorded the lowest at $94.52 and the highest at $110.59. Also, all the major coins including Bitcoin, Ethereum and XRP have shown impressive positive figures today. Although, it will be too early to believe that the volatility has taken a back seat in the crypto market.

Bitcoin SV Price Prediction

Bitcoin SV Price
BSV Price Chart By TradingView

Analyzing the 1-month movement of BSV/USD on HitBTC, we believe that the coin is trading with moderate volatility. There have been a number of instances when the price trend has hit the lower Bollinger Band with a bottom at $86.99 in the said time frame. The 10-day moving average is providing grounded support around $103, which turns out to be the positive sign in doom trading duration. Important to note that the Bitcoin SV price has slid from $156.63 to $86.99.

Although the price is currently correcting upwards, the selling pressure is more emphasized as the volatility still exists.

The MACD of BSV coin is below zero and running bearishly as the signal line cuts the MACD line, while the RSI is at 53.92 and holds no extremities of being oversold at present.

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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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