- BSV price action plunged from $270 to $237 on Wednesday’s trading session
- The 24-hour volume in BSV is at $2,811,503,503 with a 34.50% increase
- The BSV/BTC pair was trading at 0.004228 BTC with a loss of 10%
Source: BSV/USD on TradingView
The 4-hour technical chart of BSV price action forecasts a downtrend. According to pivot points, BSV’s critical support level is placed at $228. Whereas if it moves up, the key resistance level to watch is $270. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish engulfing candlestick pattern representing bearish reversal with high reliability.
EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) collides with EMA-13 (green), which projects a negative trend for a short while. The price is sustaining above 50-EMA. Investors may perceive negative crossover in the EMA, and the price will also follow the negative trend.
RSI indicator (BEARISH), with a value of 47.50, indicates a sell signal in the coin. Moreover, Investors can see a flat slope in the index, and it may soar in future trading sessions.
The volume of (4.24K) represents a selling volume which is above the Volume MA (1.37K) of 20-days. High buying pressure is required in Bitcoin SV to drive its price to higher levels.
BSV Price Requires High Buying Volume
BSV price traded at $235 with a loss of 14% in the last 24-hour and 14.32% up in the weekly time-frame. Furthermore, Bitcoin SV is in a downtrend for a short while. In contrast, the market capitalization stands at $4.45 billion. Technically, investors can perceive a crossover may soon happen in EMA, and the price is sustaining above the 55-EMA. RSI index showcases a flat slope. Moreover, the price movement can bounceback from the support and may hit the resistance of $272 in future trading sessions.
Resistance: $272
Support: $228
