BSV Price Analysis: The BSV Coin Prepares For Its Next Big Move Resonating Inside A Definite Range  

By Brian Bollinger
Published December 8, 2021 Updated December 8, 2021
Best Buy In

Exchanges

Wallet

BSV coin

BSV Price Analysis: The BSV Coin Prepares For Its Next Big Move Resonating Inside A Definite Range  

By Brian Bollinger
Published December 8, 2021 Updated December 8, 2021

On December 6th, the long-awaited result of the identity of Satoshi Nakamoto has dropped in favor of Craig Wright. The BSV coin, following the primary vision of Satoshi Nakamoto(Craig Wright), showed a sudden price surge of 42% in its intraday session due to this news. Furthermore, the technical chart shows the coin is still in a range-bound movement, maybe preparing for even a bigger move than this.

Key technical points:

  • The BSV price reclaims the 50-day EMA
  • The intraday trading volume in the BSV coin is $1.03 Billion, indicating an 87%. again

TradingView Chart

Source- BSV/USD chart by Tradingview

Since the bloodbath of may, the BSV coin had never seen what’s beyond the $200 mark. For almost six months, that price has been wobbling between two definite levels of $290 and $110, creating a definite range for the coin. This range represents a resting period for the coin, which will eventually provide a strong directional move when the price breaks out from the border levels of this range.

The crucial EMA levels(20, 50, 100, and 200) indicate a bearish for this coin since its price is trading below the trend defining 100 AND 200 EMA. However, the Relative Strength Index(52) moving above the neutral zone maintains a bullish sentiment within the BSV coin.

BSV/USD 4-hour Time Frame Chart

TradingView Chart

Source- BSV/USD chart by Tradingview

The BSV coin shows some minor resistance/support levels in this lower time frame chart. After bouncing from the bottom support on December 6th, the coin price knocked out the nearest resistance level of $110, trying to move to the other side of the range.

The coin price is currently struggling to sustain above the next resistance level of $162. in case of a fallout, the $110 should act as a good support level and help the price sustain the bullish sentiment.                                                                 

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Brian Bollinger
185 Articles
From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com

Loading Next Story