Bitcoin SV price prediction suggests that BSV crypto has formed a strong base near $30.00. It shows that buyers are active at lower levels and a significant rise is possible in the coming months.
BSV price seems to be stuck in a narrow range between $28.00 to $35.00. It has consolidated for quite a long time so buyers and sellers might try to break either side of the range. Bitcoin SV price is trading below the 50-day and 200-day EMA showcasing a downtrend. However, the EMAs are sloping in a sideways direction indicating that the consolidation might continue.
BSV crypto price faced rejection from $40.00 which triggered the negative sentiment and invited further decline. Therefore, $40.00 will now act as an immediate hurdle for the bulls. If buyers break the higher range of consolidation and reach $40.00 then profit booking might be visible. So investors need to be careful in the coming months.
Bitcoin SV price is trading at $31.96 with an intraday rise of 0.95%. The 24-hour volume to market cap is 3.91%. The pair of BSV/BTC is trading at 0.001217 with an intraday rise of 1.84%.
Will Bitcoin SV Price Break the Upward Range?
Bitcoin SV price prediction stays bullish till it sustains above the $25.00 level. Buyers are trying to keep the price above 30.00 to keep the confidence of the long-term investors.
BSV crypto will pick up the momentum when buyers are able to break the $40.00 hurdle. Till then, prices are expected to trade in the consolidation range.
On the lower side, $25.00 is a strong support zone. If BSV crypto faces rejection from the 50-day EMA and drops below the $25.00. Then a 10% to 20% sharp downfall is possible.
BSV Price Turning Bullish on a Multiple Time Frame
BSV price is turning bullish on a multiple time frame. However, until the breakout happens prices will lack positive momentum. Meanwhile, if the crypto leaders BTC and ETH price recovers then it might improve the market sentiment.
Also, BSV crypto price may be positively impacted. The MACD curve is rising upward and the histogram bar is green. It shows mild bullishness and the presence of buyers is visible. The RSI at 55 denotes the strength and the confidence of the bulls.
Conclusion
Bitcoin SV price prediction is bullish and suggests a rise in the long run. It formed a base near $30 and buyers are trying to break the higher range to expand upward. The analysis suggests that If the BSV price breaks $35 then the probability of reaching $40.00 by October end is high.
Technical levels
- Resistance levels: $35.49 and $49.88
- Support levels: $28.00 and $25.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/09/28/bitcoin-sv-price-prediction-bsv-price-may-reach-40-in-october/