Bitcoin SV

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.

Bitcoin SV has been in a downward correction since September. In the last two months, the coin has not been trending. Rather, buyers have continued to retest the $180 overhead resistance to break it.

Yesterday, buyers attempted to push BSV above the $180 overhead resistance. The upward move is facing resistance. If buyers turn down from the resistance zone, the sideways move will resume.