Bitcoin SV

The best-performing cryptocurrencies are bouncing back after reaching critical support in July. This is possible because cryptocurrencies are breaking above moving average lines.

Cryptocurrencies have continued to rise, with some entering the bull market. Others have fully recovered from the earlier decline.

The altcoins in cryptocurrency analysis by Coinidol.com today are: EGLD, MKR, Bitcoin SV, APE and BCH.

Bitcoin SV (BSV)  rallied to a $200 high and pulled back. The altcoin has been range-bound between $170 and $200 after the February 23 breakdown.

Bitcoin SV has fallen into the previous range bound zone of between $151 and $180. The coin fell to $171 low and made an upward correction.

Bitcoin SV is retracing after yesterday’s price spike. The price has retraced above the $200 support level. There will be a further upside momentum if the current support level holds.

Bitcoin SV has been trading in a bear market for most of 2020. After a prolonged bearish market in the previous year, January 2020 started in upside momentum.

Bitcoin SV has been range-bound since September. The coin has been fluctuating between $151 and $185. Buyers have not been able to break the resistance at $180.

Yesterday, buyers made concerted efforts to break the three months old sideways trend of the coin. BSV has not been able to trade above the $180 overhead resistance since September.