Bitcoin Cash SV [BSV] Technical analysis: Cryptocurrency is all set for a slow and constant performance

The recent Bitcoin Cash hardfork [BCH] It was one of the biggest news that has attracted the attention of many cryptocurrency investors lately. Both Bitcoin CashABC and Bitcoin Cash SV managed to remain firm in the top 10 of the last two weeks. Although Bitcoin Cash ABC struggled to keep up with a strong price range, it managed to remain in fifth position based on market capitalization.

However, Bitcoin Cash SV showed a huge performance last week, even during the downward trends in the market. At the time of writing, BSV is trading at $ 95.62 with a market capitalization of $ 1.67 billion. The cryptocurrency has shown a massive increase of 83.6% in the last 7 days. However, the 24-hour statistics show a negligible increase of 1.56%. The highest trading volume of 28.5% is seen on Upbit, followed by Binance, Bithumb and many others.

1 hour:

BSVUSDT 1 hour chart | Source: TradingView

In the 1 hour chart of Bitcoin Cash SV, there is an uptrend that extends from 38.6 USDT – 94.2 USDT with a resistance point set at 132.06 USDT.

The Bollinger bands they are currently forming a narrow path which describes that the volatility of the market is much lower.

Chaikin cash flow [CMF] it is moving below the zero line indicating that the inflow of money is shrinking in the BSV market.

In case of Klinger Oscillator, both the signal line and the reading line move together without signal of purchase or sale in this time frame.

4 hours:

BSVUSDT 4 hour chart | Source: TradingView

The 4-hour chart of Bitcoin Cash SV shows an uptrend from USD70 to USD 94.29 and the downtrend goes from USD 133.6 to USD 104.

The MACD currently has a bearish crossover with a negative histogram formation.

The Relative strength index [RSI] at the moment it seems stable with the index line completely set inside the RSI area.

Conclusion:

According to the previous technical analysis, Bitcoin Cash SV has a high probability of having a less volatile market. As the Bollinger bands are forming a tight path, we can also expect a trend breakout.

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Laira is a full-time writer at AMBCrypto. She is a degree in Computer Science and has about 1 year of writing experience. His enthusiasm and his keen interest in the development of his knowledge on blockchain and cryptocurrency have led her to become part of AMBCrypto. At the moment it has no value in cryptocurrency or in its projects.