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29 March 2024
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Bitcoin

Bitcoin SV Price Analysis: BSV Price May Soon Break Out From The Consolidated Zone

BSV price is trailing in the consolidated zone and can see a breakout in the upcoming trading days
Bitcoin SV price is currently trailing at the value of $188.53 with a gain of 4.25% in the 24-hour time frame and 5.67% from last week
BSV/BTC pair is trading at the value of 0.004677BTC with an intraday loss of 3.45%

Source: Trading view
After hitting the price of $200.43, BSV projected a negative retracement. The current price of BSV is $188.9, with a gain of 4.25%. The coin is trading above 50 and 200 Exponential Moving Average. The 50 MA blue line is currently at the value of $183.73, making it temporary support for the price. The volume of coin has seen a gain of 78.89% and the market capitalization went up by 4.44%..

Bitcoin SV(BSV) Technical Analysis

Source: Trading view
The weekly chart of BSV shows” Bulls are Waking Up “in today’s trading. BSV is facing the resistance at the value of $200.73, and the support region is at the value of $174.83.BSV/BTC pair is currently facing resistance at the value of 50MA. This pair has also formed a bearish engulfing pattern in the past trading session, showcasing the investors are not having faith in this pair.BSV has formed a bullish pattern in the past, indicating the price may see an upwards trend in upcoming days.

MACD(Bullish): MACD has given a positive crossover signal in the past trading session. It indicates a bullish momentum for the coin with a lower strength. Bars of the histogram also indicates a positive momentum.

RSI(Bearish): It is currently trailing at the level of 52.3 indicating its presence in the overbought zone. A flat slope is formed in the RSI, which showcases that the price may see any movement in upcoming days.

Conclusion

BSV price can break out from the consolidated zone as it has formed a golden crossover couple days back.BSV/BTC pair is facing resistance from 50MA and showing no sign for a positive comeback. An investor should do their due diligence before investing in BSV.

Technical Level

Major Resistance:$200.73

Major Support:$174.28

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