Bitcoin SV Rallies with a Double-Digit Number of 21%, What Next?

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Bitcoin SV has followed a unique price action moving up and down in a much more comprehensive range, entrapping both buyers and sellers. This price movement has made it very difficult for buyers to mark a level as positive for buying and selling. As a result, the range has become much wider, and one wrong move can entrap you for a prolonged duration. 

Although October 07 will be marked in golden words as it was a day BSV moved up by more than 20%. The last time, the coin marked such high gains on a single day was back in May 2021. Both times, the BSV price moved up by more than 20% in a single day; it was followed by a steep fall in prices. So, Bitcoin SV investors should technically hold on for a knee-jerk reaction by majority holders of this cryptocurrency. 

Currently, BSV ranks 49 in terms of market capitalization and is worth $3.4 billion, with close to 90% liquidation of its maximum supply capped at 21 million coins. 

Bitcoin SV Price Analysis 

BSV is moving in a broader consolidative range that loses buyer interest between $170 to $190 and incites buying sentiment close to $110 to $120. In September alone, Bitcoin SV cryptocurrency has taken a dip of more than 42%, raising $115 from $199.

BSV cryptocurrency is close to facing stiff resistance from its 200 days moving average, which is falling down. It is currently active at around $191 levels, and it is expected to keep moving down until BSV manages to break out of its smaller fluctuation range. 

Previously in April 2021, we witnessed BSV mark an all-time high value of $490. $200 level has become a cry-out demand for BSV to return into the limelight and showcase its possibilities to the latest generation of crypto investors. Below $200, BSV is just another fork of Bitcoin waiting to receive some due recognition as per our Bitcoin SV price prediction. 

RSI for BSV has reached an all-time high bullish level of above 75 with a visible spike in transaction volumes too. From the negative RSI level to a positive number, BSV investors have completely turned around the sentiment on BSV, marking a positive outlook on this cryptocurrency.