•BSV/USD is currently priced at $49.22 and has increased by 2.09% over the past day
•The technical indicators suggest a positive outlook for the near term
•The trading volumes have increased by 67.41% in the past day
Short Term View: Bitcoin SV bulls remain firmly in control
The Bitcoin SV price today is $49.22 USD with a 24-hour trading volume of $93,066,977 USD. Bitcoin SV is up 2.09% in the last 24 hours. The trading volumes have increased over the past day amid increased investor activity whereas the Volume to Market Cap Ratio stands at 0.09851 for the altcoin.
Despite a few hiccups in the past day, the momentum remains firmly sided with the bulls as the Bitcoin SV price is currently transacting above the 20,50 SMA on the four hour chart, which bodes well for the future prospects of the coin. In case the buyers continue to amp up the pressure, then after breaking its resistance at $50, the price will highlight the next resistance at $55. On the other hand, if the altcoin breaks down from this level, the altcoin will highlight the next support level at $45.
Long Term View for Bitcoin SV Price
The technical indicators for Bitcoin SV suggest a bullish picture as the MACD indicator shows that Bitcoin SV price has been stagnant for a few weeks now but the asset finally looks on the up now, with the rise in size of the green histograms complimented by the increase in trading volumes on the daily chart. The MACD and signal lines are also depicting strength as they head towards the positive territory. On the other hand, the RSI is currently transacting at 47.84. The move above the halfway mark will provide further impetus to the bullish rally in the coming days.
Conclusion
Bitcoin SV Coin is currently in the middle of an uptrend and the market sentiment is suggested by the technical indicators to remain strong. Thus if the buyers remain strong in the coming days, it will break the resistance level and rise further.
Support: $45-$40
Resistance: $50-$55
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.
