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BITCOIN SV Price Analysis: Candles settling down at SMA-20, could expect a retracement

BITCOIN SV Price
  • BSV has an average time between for block formation of 10M 26S.
  • The token has shown the pattern of bullish engulfing in the last 24 hours.
  • The RSI oscillator for BSV shows the NEUTRAL action.
Tradingview

The last known price of the token, BSV, is 151.88 and is up by 4.04% over the last 24 hours. It has the current trading volume(s) of 498,961,245, with a gain of 39.52% over the last 24 hours. BSV has addresses of 21,964,969 with the active address(es) not mentioned. 

The chart above shows the movement of BSV where 200 DMA has been below it, and even DMA-50 is below it. We see the token with respect to SMA’s, which are 20, 50, and 200, and it is SMA-20 which is ahead of one(SMA-200) SMA and also bove the other(SMA-50). We see an upward pattern where the bulls’ win is visible. The trend line marked shows this upward shifting. The candles forming now are about to touch the level of monthly high at $161. However, the token is well behind the high.

Its top 10 and 20 holders have more than 15% holdings, and the top 50 and 100 have more than 20%, which shows the supply side of the coin.

An RSI oscillator is also present in the chart, which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 52.061 and marks the neutral action. MA-5, MA-10, and MA-20 show the sell action. MA-100 and MA-200 show the same buy action. However, the BSV at present is all set to sell.

The bull/bear power has the value of 0.0167 and shows the buy action. The high/low marks the neutral action with the value of 0.0000.

The BSV-BTC pair is trailing at the level of 0.00342, and the gain of 1.82% was seen, whereas the BSV-ETH pair is trailing at the level of 0.05006, and the gain of 1.84% was seen in the last 24 hours. The volume/market cap of the token is 0.1701, and its market dominance is 0.16%.

Conclusion: The days range for the coin is 144.10-155.68 and presently is at 151.57. 

Support from the broader market is needed to move the token from pivot point to resistance level 1, and then resistance level 1 can come into play. 

The 24 hours high and low of the coin is 159.41 and 144.71, respectively. We observed that the coin is going higher, and in the coming time, it will be moving higher. As the retracement is taking place, crypto holders are showing interest in it.

Technical Instruments:

Pivot: 151.33

R-1: 151.78

R-2: 152.06

S-1: 150.88

S-2: 150.60

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour