Quack AI
NEAR Protocol
Zcash
Celestia
Pons
Pudgy Penguins
Bitcoin
- Bitcoin SV Price Prediction suggests BSV Price has turned bullish for the long term.
- The BSV Price rallied more than 100% in the past 2 weeks.
- The Bitcoin SV Price sustains above the 50 and 200 day EMA showcase uptrend.
Bitcoin SV Price Prediction favors the bulls and has turned bullish for the long term. It rallied more than 100% in the past 2 weeks which has created a positive hope and boosted the confidence of investors.
BSV Price is rising upward by forming higher high swings shows that the bulls are more active as compared to sellers. However, it faced minor rejection from the $50.00 but bulls are trying their best to rebound.
Bitcoin SV Price breakout of the 200 day EMA showcase positional trend has reversed in the upward direction. The 50 day EMA sloping upward seems like preparing for the golden crossover.
BSV Price breakout of the previous swing high hurdle at $40.00 which triggered the positive sentiment. Later, it showed a sharp rise of 33% which grabbed the attention of the long term investors.
BSV crypto also witnessed a massive spike in the buying volume and prices also reacted positively denoting the participation of big players.
Bitcoin SV Price is trading at $43.42 with an intraday rise of 1.83%. The 24 hour volume to market cap is 12.32%. The pair of BSV/BTC is trading at 0.001433 with an intraday rise of 0.28%.
Will Bitcoin SV Price bounce back after retracement?
Bitcoin SV Price showed a surprising rally and recovered the YTD losses. For the past 6 months, BSV Price consolidated in the wide range between $50.00 to $30.00. In the mid of June, Sellers tried to pull the price below the lower range.
Luckily, the responsive buyers came forward and again pushed the price inside the range. Due to a sudden change in the trend, sellers rushed to close the position which further gave momentum to the rally.
Bitcoin SV Price is returning back to the test the EMAs which is likely to act as an immediate support for the bulls. The technical analysis suggests, the upside momentum is still intact and probability of bounce back after retracement remains high.
BSV Price Analysis on weekly time frame
BSV Price forming a bearish candle on the weekly time frame and sellers trying to keep the price below $50.00. Therefore, if the price bounces back and succeed to break out of the $50.00 hurdle then the next phase of the rally might trigger.
The MACD curve is reversing downward indicates mild bearishness. But the probability of generating negative crossover remains low. The RSI at 60 is also getting cool off from the oversold bought territory and likely to enter the neutral zone.
Conclusion
Bitcoin SV Price Prediction favors the bulls and suggests a significant rise is possible in the long run. BSV Price faced minor rejection from the $50.00 which will be a strong hurdle in coming months.
However, The technical analysis suggests, BSV crypto is likely to bounce back after retracement and begin the journey to reach $60.00.
Technical levels
Resistance levels: $50.00 and $56.00
Support levels: $40.00 and $35.00
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.
