2019-4-4 00:00 |
The collective coin market surge pushed cryptocurrencies to new heights. Bitcoin SV [BSV] was one of them, as the BSV market grew by a whopping 20 percent, since Bitcoin [BTC] pumped.
Bitcoin SV was trading at $85.26, and added $300 million to its market cap, at press time.
BitForex took the top spot in terms of global BSV trade volume, accounting for 20.06 percent of the total volume in the trading pair BSV/USDT. Other top exchanges on the list were Bit-Z, Binance, and IDAX.
1-hour
Source: Trading View
The short-term price chart indicated a sea of green as two uptrends stole the show. The first saw the coin pump from $65.79 to $75.46, while the next was from $75.91 to $90.71.
Bitcoin SV found immediate support at $83.74, which is almost $20 higher than its support level 24-hours prior. The immediate resistance level of the coin stood at $91.51.
The Bollinger Bands pointed to a massive increase in volatility as the price saw a bullish tsunami, while the Moving Average line was overwhelmingly bullish.
The Chaikin Money Flow tool indicated money inflow to be positive, but on a downward trajectory.
The Awesome Oscillator showed a massive increase in short-term momentum. However, the imminent market correction will lure the bears.
1-day
Source: Trading View
Bitcoin SV, in the long-run, saw a massive uptrend, eclipsing the past three months of bearish movement. The noticeable uptrend saw the coin spike from $66.45 to $91.61.
The coin’s immediate support level of $64.43 was around $30 below the current spike, owing to the past two days’ candlesticks. Additionally, the coin’s immediate resistance level stood at $91.85.
The Parabolic SAR had shifted its trend from the bears to the bulls, following the recent spike.
The MACD pointed to a bullish trend as well, following the MACD line’s surging overtake of the Signal Line.
The Relative Strength Index showed investors flocking to the twelfth largest coin in the market as the RSI increased from 49.21 to 81.16, well into the “overbought” zone.
Conclusion
Following the footsteps of Bitcoin and Bitcoin Cash, Bitcoin SV mounted a massive bullish wave of its own. In the short term, volatility was high and short-term momentum was positive. However, money inflow looked to dip below zero and bearish tendencies looked to mount. Long term indicators showed positive signs all around as the past two-days’ candlesticks undid months of bearish onslaught.
The post Bitcoin SV [BSV] Price Analysis: BSV joins big brothers Bitcoin [BTC] and Bitcoin Cash [BCH] among highest gainers appeared first on AMBCrypto.
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