SSV Network Price continues to fall; When SSV might take halt

• SSV Network Price fell 30% in the previous week and hit a year low.
• The SSV crypto price faced rejection from the 50 day EMA.
• The pair of SSV/BTC is trading at 0.0006413 with an intraday rise of 3.35%.

SSV Network Price fell 30% in the previous week and hit the fresh yearly low. SSV price is in downtrend and continuously declining by forming lower low swings. 

At the mid of April, SSV crypto price broke down the crucial support of $30.00 which invited further decline. While declining, it showed a minor pull back and tried to reverse the trend but the 50 day EMA turned out to be a hurdle for the bulls. 

The trading volume in the SSV token is quite high indicates decent liquidity is available due to that many investors are looking for exit. The volume spikes as well as the spike in prices are visible indicating speculators are also active. 

SSV Price has corrected  a lot and seems to be oversold, So, short squeeze may arrive any time to clear out the existing shorts positions. The buyers in SSV crypto are losing confidence and look reluctant to build long positions due to the fear of further fall. 

The crypto leader Bitcoin price is mildly bearish which is hurting the sentiment of investors. If the overall market recovers then we may expect the downfall in SSV might take halt. 

SSV Network price is trading at $16.35 with an intraday rise of 2.77%. The 24 hour volume to market cap ratio is 7.05%. 

Will SSV Network Price decline further

SSV Network price is forming a bearish pattern and no signs of recovery or reversal is visible. The buyers are trying to defend the $15.00 level but the sellers seem  aggressive and more downfall is possible. 

The next possible support which is visible in the chart is $10.00. The downfall might take halt near $10.00 and might enter consolidation for base formation. However, if the price falls further and drops below $10.00 then it will surely raise concern for the long term investors. 

The technical analysis suggests, SSV price is in a bear grip and more correction is pending. Till prices are trading below 20 day EMA any short term up-move will face difficulty to sustain.

SSV Price analysis with BTC pair

SSV Network with BTC pair also entered the bearish trend. The price slipped below the 50 and 200 day EMA and displayed a death crossover. The sellers seem to be highly active on both the pairs and more sell off is possible. 

However, 0.0004223 might act as support in the SSV/BTC. Therefore, if SSV network prices take support in the BTC pair then the down fall in USDT pair might also take halt. 

The MACD has generated a negative crossover and the curve slopes down. It indicates prices are likely to trade with the bearish bias for some more time. The RSI at 30 denotes weakness but reached the oversold territory and short term pull back is possible.

Conclusion

SSV Network Price fell 30% in the previous week and continues the decline. No signs of recovery are visible in SSV/USDT and SSV/BTC pairs. The technical analysis suggests, SSV Network is in bear grip and more sell off is pending. 

Technical levels

Resistance levels: $25.00 and $30.00

Support levels: $12.00 and $10.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.