- The price BSV coin has a circulating supply of 19 Million coins
- BSV’s price has shown a gain of over 20% in the last six months.
- Bitcoin SV (BSV) is recommended with a ‘strong buy’ by technical indicators summary.
Bitcoin SV (BSV) came into existence as a result of a hard fork in the Bitcoin Cash (BCH) blockchain in 2018. This event was itself a result of a previous fork from the BTC blockchain that occurred a year earlier.
The BSV coin is currently exhibiting an upward trend, with its price reaching higher levels, indicative of a bullish market sentiment.
As of the current market session, the BSV coin is trading at $49.2. It has a circulating supply of 19 million coins and an Open Interest of $30 million.
The trading volume for BSV coin stands at $184 million, demonstrating increased activity and higher volatility.
Notably, the BSV coin recorded an impressive 27.7% gain in the past week, signaling a substantial shift towards a bullish trend.
In April 2021, the BSV coin achieved a peak price of $480.6, but it later experienced a substantial decline of 96% by June 2021. However, the coin found strong support at the $24 level and has since been in a recovery phase, approaching the $62 level. The overall pattern of the coin suggests a positive outlook, with the potential for further upward movement.
An assessment of technical indicators from TradingView reveals a “buy” signal for BSV coin. Among the 26 indicators, 13 are signaling a “buy,” while 2 suggest a “sell.” Additionally, the moving average summary indicates a strong buy signal, underscoring the prevailing bullish sentiment in the coin’s market.
Bitcoin SV (BSV) Coin Price Prediction
Bitcoin SV (BSV) shows a positive sign with the MACD line above the signal line and a green histogram. This means BSV is likely to go up in price.
Also, the 14-day SMA and RSI lines for Bitcoin SV (BSV) are near the 60 level. This is a positive signal. This strong RSI reading suggests the price may increase soon.
Conclusion
In conclusion, the BSV coin is moving upward and the price is giving a positive return in the previous year which signifies the trend reversal. Also, the indicators give a positive signal and the indicator summary suggests a buy signal. Hence, the price is likely to continue rising in the upcoming days.
Technical Levels
· Support Level: $24.09.
· Resistance Level: $61.85
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.