- The BSV crypto has witnessed higher long liquidation in the last 24 hours.
- The Bitcoin SV’s highest volume is traded on the USDT pair.
Bitcoin SV is a cryptocurrency that claims to follow the original vision of Bitcoin as a secure, and stable peer-to-peer cash system. It was created by nChain and Craig Wright, who says he is Bitcoin’s creator. The BSV coin is controversial and requires careful research before investing.
As per CoinMarketCap, the market cap of the BSV crypto is $970.256 million and a market cap rank of #65. The volume/market cap ratio of the crypto is 0.0348.
The market cap of the crypto has declined by 0.35% in the last 24 hours. Also, the spot trading volume for the BSV crypto has advanced by 2.69%, resulting in $45.247M. This phenomenon has resulted in a ranking of 125th for the trading volume in the Coinmarketcap.
Token Contract Overview
The total supply of the Bitcoin SV is 19.579 BSV and its max supply is 21.0M BSV. Moreover, the fully diluted market cap of the crypto is $1.042B. It has a total of 920 holders resulting in a total number of transfers of 4.19K.
Bitcoin SV Derivatives Analysis
The BSV has reported a higher long liquidation in the last 24 hours, resulting in $23.86K. Moreover, the long/short ratio of the crypto is reported to be 0.9448 as per Coinglass. The derivative trading volume has also slightly advanced by 5.66% resulting in $28.85M.
BSV Crypto Technical Analysis
The Bitcoin SV price is consistently trying to advance to a higher level but is facing a sell-off from the higher levels of $55-$57.00. Following the most recent price action on the weekly charts, the crypto has formed a bullish price structure. Thus, if the crypto price breaks above the level of $57.00, it might lead to higher levels by continuing the uptrend.
BSV/USD Chart by TradingView
Looking at the daily chart the Bollinger Band for the crypto seems uncertain as it is trading flat and the price is trying to advance to the higher levels. The crypto is facing rejection from the lower levels leading to the formation of bullish candlesticks.
The MACD for the same is also representing uncertainty as the signal line and MACD line are trading above the zero level, but the lines are following the death cross on the chart.
Conclusion
BSV is a cryptocurrency that aims to restore the original Bitcoin vision. It has a low market cap and high volatility. It is facing resistance at the $57 level and needs to break it to reach the next resistance of $100. It has a bullish structure on the weekly chart but uncertain indicators on the daily chart. This behavior of the crypto price indicates that one must wait for the crypto break above the swing high of $57.00.
Technical Levels
- Support levels– $18.30 and $29.06
- Resistance levels– $65.80 and $98.50
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.