BSV/USD Faces Rejection at $50

The Bitcoin SV price prediction failed to cross above the upper boundary of the channel as the coin aims to touch the low of $45 support.

Bitcoin SV Prediction Statistics Data:

• Bitcoin SV price now – $48.8
• Bitcoin SV market cap – $935.5 million
• Bitcoin SV circulating supply – 19.1 million
• Bitcoin SV total supply – 19.1 million
• Bitcoin SV Coinmarketcap ranking – #52

BSV/USD Market

Key Levels:

Resistance levels: $55, $56, $57

Support levels: $45, $44, $43

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BSV/USD is changing hands at $48.8, down from the recent high of $50.0. The coin is moving to cross below the 9-day and 21-day moving averages on the market. However, the Bitcoin SV price is mainly influenced by speculative sentiment and technical factors, while fundamental developments remain in the shadows.

Bitcoin SV Price Prediction: Bitcoin SV (BSV) May Face the Downside

The Bitcoin SV price keeps hovering around the 9-day and 21-day moving averages as bulls are yet to hold their ground. Therefore, further bearish movement within the market may push the coin below the moving averages with the next local support at $47. This level is likely to limit the correction and serve as a jumping-off ground for another bullish wave.

However, the sell-off is likely to gain traction with the next focus on $45, $44, and $43 support levels. Meanwhile, on the upside, the initial resistance could be created above the 21-day moving average to touch the nearest resistance level of $50. The further bullish movement could touch the $55, $56, and $57 resistance levels even though the daily Relative Strength Index (14) nosedives toward the 40-level, suggesting bearish signals.

Against Bitcoin, the Bitcoin SV price continues to be range-bound, as the coin nosedives toward the 9-day and 21-day moving averages. The bulls couldn’t keep the market above the moving averages but the technical indicator Relative Strength Index (14) may cross below the 50-level. However, any further bearish movement could locate the support level at 2400 SAT and below.

Moreover, if bulls strengthen and power the market, the coin may likely breakout toward the upper boundary of the channel which could find the potential resistance level at 2750 SAT and above. Meanwhile, at the time of writing, the Bitcoin SV price is currently changing hands to 5357 SAT as a spike in volatility may occur within the market soon.

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