- Bitcoin SV price is trying to accumulate bulls to register its breakout from the horizontal range-bound area over the daily price chart.
- BSV crypto has recovered till 50 EMA and is preparing for the remaining 100 and 200-days Daily Moving Average.
- The pair of BSV/BTC is at 0.002609 BTC with an intraday drop of 2.64%.
The bulls are attempting to support the price of Bitcoin SV, but it appears that the token is sliding sharply toward the lower range of the consolidation phase. To surge towards the upper level, BSV has to assemble bullish support. BSV got stuck between $43.77 and $65 on the daily price chart after an amusing roller coaster ride. BSV coin price is trading with strong uptrend momentum over the daily price chart. The token must surge towards the upper trendline to register its breakout. BSV investors need to wait until BSV bulls sustain at the upper trendline.
The price of Bitcoin SV, which is currently $56.18, has boosted the market cap by 1.90 percent in the last 24 hours. During the intraday trading session, trading volume jumped by 43.59 percent. Therefore, during the intraday trading session, the rate of accumulation should be accelerated. The volume to market cap ratio is 0.08083.
To accelerate toward the upper trendline of the horizontal range-bound area over the daily price chart, the BSV coin price needs to draw in additional buyers. To break out of the pattern, the token needs to assemble forces of buyers. But just now, the token is dropping over the daily chart. Volume change is below average and must increase for BSV to experience considerable growth. BSV crypto has recovered till 50 EMA and is preparing for the remaining 100 and 200-days Daily Moving Average.
Will BSV Skyrocket leaving the Horizontal Range?
The BSV coin price has remained confined inside the horizontal range-bound area and is attempting to attract buyers, but it appears like bears are now in control of the token. To avoid falling victim to a short seller’s snare, the token must draw purchasers. Technical indicators suggest the uptrend momentum of BSV towards the upper range of the consolidation phase.
Relative Strength Index showcases the uptrend momentum of BSV coin. RSI is at 49 and is trying to break out from neutrality. MACD exhibits the bullish momentum of BSV. The MACD line is approaching the signal line for a positive crossover.
Conclusion
The bulls are attempting to support the price of Bitcoin SV, but it appears that the token is sliding sharply toward the lower range of the consolidation phase. To surge towards the upper level, BSV has to assemble bullish support. BSV got stuck between $43.77 and $65 on the daily price chart after an amusing roller coaster ride. Volume change is below average and must increase for BSV to experience considerable growth. Technical indicators suggest the uptrend momentum of BSV towards the upper range of the consolidation phase. RSI is at 49 and is trying to break out from neutrality.
Technical Levels
Support Levels: $43.77 and $40.00
Resistance Levels: $65.00 and $67.00
Disclaimer
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.
