- The Bitcoin SV coin appears to be trading sideways in a horizontal range between the $55 to $49 zone.
- The BSV token is witnessing volatility, resulting in neutral trading volumes over the last night.
- The Bitcoin SV coin and bitcoin pair is trading up 5.9% at 0.001797 satoshis.
The Bitcoin SV coin is showing slight correction while remaining below the previous swing low, as well as above the 2022 low of $44.93. The bears cited a solid bearish candle on May 12 as the last solid outlook for the sell-off.
In the intraday trading session, the bulls are looking aggressive to buy, but still, the Bitcoin SV coin seems to be trading sideways in a horizontal range between the $55 to $49 zone. The bulls will need to acquire a bullish dominance to overcome the selling pressure.
Today’s buying power could lead to a bullish start for the BSV token. But due to a longer-term bearish trend, the bulls could see a selloff near the $60 mark (resistance). Meanwhile, the Bitcoin SV token is in the green at the $52.10 mark at the time of writing.
Thus the market cap could reach above $1 billion by the end of this week, which is up 6.5% as per CMC data for the last 24 hours. Moreover, the Bitcoin SV coin and bitcoin pair is trading up 5.9% at 0.001797 satoshis.
A $50 round level is the last hope for BSV holders
In terms of the daily price chart, the vital exponential moving average is well above the current price of the Bitcoin SV coin. However, the BSV token is seeing volatility, resulting in neutral trading volumes last night, so this could be the reason why investors failed to push the altcoin price above the 20 EMA.
The RSI indicator is showing some bullish signs as its peak turns towards a semi-line on the daily chart.
Buyers can see a market cap of $1 billion by the end of this week if the Bitcoin SV price manages to move above $50- the crucial support level.
Support levels – $50 and $45
Resistance level – $60 and $100
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.