Press "Enter" to skip to content

Price Analysis of BSV: The coin still in the bear run

Cryptocurrency


The cryptocurrency that emerged as Bitcoin Cash’s hard fork- Bitcoin SV (BSV) ranks 9 among the major cryptocurrencies in the market. The price of BSV at the press time was $131.0082 with a market cap of $2.378 billion and a 24-hour trading volume of $455 million. A major chunk of the coins were traded from CoinEx, BigONE, and CBX via BSV / USDT pair.

2 Hour Chart

Source: BSV / USDT TradingView

The short term chart exhibited an uptrend extending from $94.0607 to $121.4889 and a downtrend extending from $154.5576 to $139.9587. The immediate resistance was at $140.1799 and the subsequent resistance was at $145.0462 while the support was held at $124.6963.

The Bollinger Bands were undergoing a squeeze reducing the volatility of the coins.

Chaikin Money Flow: The CMF line was under the zero line suggesting that the outflow was more than the inflow of the capital placing the coin in the bearish market.

The MACD line was slightly under the signal line indicating that the coin was under a bearish trend at the time of writing.

1 Day Chart

Source: BSV / USDT TradingView

The daily chart showed a downtrend extending from $255.9387 to $153.3856 and an uptrend extending from $56.3573 to $77.0751. The resistance was at $147.8609 while the support was held at $120.9277.

Parabolic SAR: The dotted line over the candlesticks was going down indicating that the coin was under a bearish market.

The Awesome Oscillator showed that the red bars were gaining momentum to place the coin in the bearish market.

Relative Strength Index: The RSI line was above the 50-line indicating that the buyers were more active in pushing the coin to the bullish market.

Conclusion

The Parabolic SAR and Awesome Oscillator in the long term analysis and the CMF and MACD in the short term analysis confirmed that the coin was under a bearish influence.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.