Bitcoin SV Price Analysis: BSV Gearing Up for a Massive Rally?


  • BSV price flashes signs of bearishness on 7-days price chart.
  • Bears control BSV’s current price actions.
  • Support for the bears has been established at $47.08
  • BSV/USD trades near $48.41.

03 October 2022 : In this article we will walk you through Bitcoin SV price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Bitcoin SV, Is BSV a good investment? Bitcoin SV support & resistance levels etc. But before diving deep into the BSV technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,932,453,244. The total trading volume stands at $55,487,317,888. Bitcoin shares 39.83 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,585.87 level after an upward movement of 2.11%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.39 percent reaching to $1,325.49 during the previous 24 hours.
While publishing this blog, BNB traded at $288.43, following a price change of 1.88% within the same time frame. XRP the native coin of XRP is down by -0.31 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.57% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Bitcoin SV Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Bitcoin SV (BSV)

BSV Resistance Levels BSV Support Levels
Resistance Level 1 $52.86 Support Level 1 $47.08
Resistance Level 2 $56.28 Support Level 2 $44.72
Resistance Level 3 $58.64 Support Level 3 $41.30

Bitcoin SV Performance

The current Bitcoin SV price is $48.41, with a trading volume of $62,370,126.00 in the past 24-hours. Currently, BSV is down by -1.05% since yesterday with a market capitalization of $928,853,487.00 USD.

Bitcoin SV Price Analysis

BSV price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Bitcoin SV.

Moving Averages Price Indicator
Simple Moving Average (10) 49.33 Sell
Exponential Moving Average (10) 49.17 Sell
Simple Moving Average (20) 49.87 Sell
Exponential Moving Average (20) 49.74 Sell
Simple Moving Average (50) 52.99 Sell
Exponential Moving Average (50) 52.81 Sell

The immediate resistance level for BSV prices is at the psychological mark of $52.86. If everything goes well the coin might try to break above $56.28 mark. Conversely, the broken trend line might bring the price back to $47.08 support level. The relative Strength Index (RSI) indicates that the BSV coin is in consolidation zone, as RSI is at 50. The MACD line is standing above of the signal line after a positive crossover. Bitcoin SV investors need to wait for any directional change over the daily chart. While BSV’s Williams %R indicator is at -72.259 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

The Bitcoin SV market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of BSV might try to break above its resistance level of $52.86. For now the coin is showing negative trend.