Golden Cross In BSV Crypto Chart; What Next?

Bitcoin SV (BSV) is a cryptocurrency that supports smart contracts, decentralized applications (dApps), and tokenization of assets on its blockchain. 

Moreover, BSV advocates think this can be used in industries well for such as data management, supply chain, and enterprise solutions. The project focuses on the following aspects: Stability, Scalability, Security, and Safe instant transactions.

Bitcoin SV wants to provide a stable protocol, which is important for businesses and developers to build on the blockchain without worrying about sudden changes.

The project tries to increase the block size limit to fit more transactions per block. 

This is meant to improve the network’s capacity to handle a higher transaction volume and lower fees, enabling micropayments and increased adoption. Bitcoin SV has already increased its block size limit to 128 MB, and later, to 2 GB.

Bitcoin SV developers are dedicated to maintaining a high level of security for the network to protect user funds and maintain the integrity of the blockchain.

What’s Happening With Bitcoin SV Lately?

Bitcoin SV price prediction highlights the upward movement of BSV crypto towards the $56 mark over the daily time frame chart. BSV crypto has finally broken out of the long term consolidation phase to recover and reach the $56 mark. However, currently, BSV is struggling to sustain near the $50 resistance level and is consolidating there.

Apart from BSV cryptocurrency’s impressive performance, there has been a bullish trend in the cryptocurrency market as a whole. 

BSV crypto is showing weakness and bearishness in the short term, as it has been in a downtrend for the past few months and has faced selling pressure from the market. The crypto price is currently taking support on the 50 moving average and is trying to reach the upper trendline.

What the BSV Chart Shows

Currently, Bitcoin SV stock (USD: BSV) is trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the price momentum. 

The current value of RSI is 47.24 points. The 14 EMA is above the median line at 52.24 points which indicates that the Bitcoin SV stock is neutral. The MACD line at 0.03260728444 and the signal line at 0.705253850 are above the zero line. A bearish crossover was observed in the MACD indicator.

Summary

Bitcoin SV price prediction highlights the upside trend of BSV crypto towards the $50 mark over the daily time frame chart. Apart from Bitcoin SV’s impressive performance, there has been a bullish trend in the cryptocurrency market as a whole. Bitcoin SV cryptocurrency gained around 13.21% year to date. Technical indicators suggest BSV crypto is bullish. 

Technical Levels

Support Levels: $44.23.

Resistance levels: $56.29.

Disclaimer

The analysis presented in this article is provided for informational and educational purposes only. Do not rely on this information as financial, investment or trading advice. Cryptocurrency investing and trading involve risks. Assess your situation and risk tolerance before making any investment decisions.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.