- The BSV coin has a volume of $75.40 Million and it increased by 9.8% in today’s market session.
- BSV’s coin has an OI of $19 Million which has given a rise of 5.03%.
- Bitcoin SV (BSV) is showing positive momentum and the indicators are giving a positive signal.
Bitcoin SV (BSV) emerged after following a hard fork within the Bitcoin Cash (BCH) blockchain in 2018. This fork originated from a prior fork in the BTC blockchain that took place a year ago.
Technical Analysis of BSV Coin
The BSV crypto is presently displaying an upward trajectory, marked by an increase in its price levels, indicating a prevailing bullish sentiment in the market.
Upon examining technical indicators on TradingView, a “buy” signal is observed for BSV. Out of the 26 indicators, 13 suggest a “buy,” while 2 lean towards a “sell.” The moving average summary further reinforces this with a strong “buy” signal, showing the ongoing bullish sentiment in the coin market.
The trading volume for BSV is reported at $75.40 Million, reflecting a 9.8% increase, as per data from CoinGlass. This uptick in trading volume indicates active buyer participation, with new positions being established.
The open interest (OI) for BSV is recorded at $19 Million, experiencing a 5.03% increase in today’s market session. The rising OI suggests the initiation of fresh positions in the coin.
The BSV coin has shown a growth of over 23% in the previous year. This upward movement in price signifies the coin’s commendable performance, exhibiting favorable historical returns.
In April 2021, BSV reached its peak at $480.6; however, it subsequently underwent a substantial 96% decline by June 2021. Finding robust support at the $24 level, the coin entered a recovery phase and is now approaching the $62 level. The recent breakout from the triangle pattern adds to the positive outlook, hinting at the potential for further upward momentum.
Bitcoin SV (BSV) Coin Price Prediction
Bitcoin SV (BSV) is exhibiting positive indications, characterized by the MACD line holding an advantageous position above the signal line, accompanied by the presence of a green histogram. These conditions suggest a likelihood of an upward movement in the price of BSV.
Furthermore, both the 14-day SMA and RSI lines for Bitcoin SV (BSV) are situated close to the 60 level, conveying a positive signal. The robust RSI reading implies a potential price increase soon.
Conclusion
In conclusion, the BSV coin is moving in an uptrend direction, coupled with a positive return over the past year, indicates a reversal in the trend. Additionally the indicators are showing a positive signal and the price is forming a positive pattern. Hence, the price is expected to rise in the future.
Technical Levels
- Support Levels: $44 and $24
- Resistance Levels: $61.85 and $72
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.