Bitcoin SV Price Prediction as $400 Million Trading Volume Pushes BSV Up 30% – Are Whales Buying?
Bitcoin SV has experienced a surge in price, with a remarkable 30% increase fueled by a trading volume of $400 million. This significant boost has led to speculation about the involvement of large investors, commonly known as whales, in the market.
Today's live Bitcoin SV price is $49.39, with a 24-hour trading volume of $2.4 million. Over the past 24 hours, Bitcoin SV has shown a slight gain of less than 0.25%.
With a current CoinMarketCap ranking of #43, it boasts a live market cap of $9.5 million.
As Bitcoin SV attracts attention with its substantial trading volume and notable price increase, the involvement of whales raises questions about their investment strategies and the potential impact on the cryptocurrency's future performance.
Bitcoin SV (BSV) has demonstrated a strong bullish pattern on the technical front, following a breakthrough above the key resistance level at $44.50.
This level had previously acted as a significant barrier, represented by the formation of a triple-top pattern.
However, the breach above $44.50 has invalidated this bearish pattern, indicating a potential shift in momentum.
The closing of the candles above the $44.50 level suggests the possibility of further upward movement, with the next resistance level to watch at $56.15.
Continuing the bullish trend, accompanied by a breakout above $56.15, could propel BSV towards $62.25 or potentially even higher, targeting $67.75.
On the higher side, the subsequent resistance level will likely be around $68.50.
Meanwhile, the support levels remain intact at $44.50 and $36.25, acting as crucial barriers to any potential downside moves.
This technical analysis indicates a positive outlook for Bitcoin SV, with the potential for further upward price
Read more on cryptonews.com
