- Bull Cycle in BSV Weekly Trend
- Technical Indicators
- Will BSV Price Continue To Surge?
With Bitcoin's price dropping below the $60,000 mark, its cousins like Litecoin and Bitcoin SV are facing high volatility. The BSV price shows a bullish comeback after a massive three-day drop of 12.45%.
Bull Cycle in BSV Weekly Trend
In the weekly chart, the Bitcoin SV price remains under intense bearish influence with the long-coming resistance trendline in action. Currently, the weekly BSV price trend displays an early bullish recovery from the $18.33 support level. After an early reversal from the $34 level, the Bitcoin SV price has increased by 23.81% over the last eight weeks with a diagonally positive move. In the 4-hour chart, the bullish trend is more significant with a V-shaped recovery.
Technical Indicators
MACD: The MACD indicator shows a bullish crossover opportunity in the weekly and the 4-hour price trend. RSI: The weekly RSI line reveals a bullish divergence, increasing the possibility of a bull run. Similarly, in the 4-hour chart, the RSI line spikes up from the oversold zone and is heading to surpass the halfway line.
Will BSV Price Continue To Surge?
Currently, the 4-hour price trend teases a bullish comeback with a morning star pattern, indicating a potential recovery above the 61.80% level at $47.25. On the flip side, the support levels are present at $40, $39.40, and $34.55.
The Bitcoin SV price shows signs of recovery with a potential surge to $50. Technical indicators confirm the possibility of further growth, while important support levels are at $40, $39.40, and $34.55.
