Bitcoin SV (BSV) is currently trading at around $257 after a huge 19% drop since last week.
BSV has fallen significantly over the last 24 hours, losing around 9% in value.
From September to October 2019, BSV pumped close to 80% before dropping around 45% towards the end of the year.
However, the price of BSV spiked to a new all-time high this month after pumping over 300% since the start of 2020.
Last week, at the peak of its most recent rally, BSV was worth $425 per coin.
Will Bitcoin SV recover from its recent slump or continue to fall? Let’s take a look at the chart.
Despite the recent drop, Bitcoin SV’s price chart is still extremely bullish. Not only are all the EMAs pointing upwards, but BSV is currently well above target volume levels.
Currently, the altcoin is holding support above $250, a key volume level according to the profile.
Last week, I mentioned if the altcoin were to drop, the next support level would be around $225. Although price hasn’t currently reached this target level, it’s definitely heading in that direction.
Below that, strong support can be found at $194 and $135. Finally, the most support is currently found between $90 and $110.
At the time of writing, BSV is sitting well above all its EMAs. The next big resistance levels are virtually non-existent, so we could see Bitcoin SV pumping towards $400 soon.
Since the start of January, volume has grown massively, pumping around 500% to over $2.5 billion, where it currently sits.
The current Bitcoin SV price trend
— Coin Rivet (@CoinRivet) January 16, 2020
As discussed in the article above, BSV is one of the top performers vs BTC over the past year.
The recent pump in BSV price has been going on since early 2019. A great deal of altcoins mooned due to the BTC pump that took the world’s largest cryptocurrency back to the $14,000 range.
Added to that, news from the ongoing Wright vs Kleiman case has caused a great deal of FOMO among investors, which has no doubt provided some thrust to the recent spike.
Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents:
US Dollar – BSVtoUSD
British Pound Sterling – BSVtoGBP
Japanese Yen – BSVtoJPY
Euro – BSVtoEUR
Australian Dollar – BSVtoAUD
Russian Rouble – BSVtoRUB
Bitcoin – BSVtoBTC
About Bitcoin SV
Bitcoin SV came into existence following the Bitcoin Cash chain split on November 15 2018. It is currently the fourth-largest cryptocurrency by market cap, with each coin now worth over $300 despite trading below $100 at the turn of the year.
More Bitcoin SV news and information
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As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.