This week has been a topsy-turvy one for Bitcoin SV [BSV], starting off with an illegal picture making its way to the coin’s network, falling out of the top-10 following the remarkable rise of Binance Coin [BNB], and its addition to the Exodus Wallet. The now eleventh-place cryptocurrency has had its highs and lows, as the market seems to recover from the mid-week slump.
Bitcoin SV is still trading in red, with the coin’s price pegged at $61.8, a 2.83 percent decline against the US dollar and poses a market cap of $1.088 billion, just over $30 million behind Binance Coin.
In terms of exchange dominance, Bit-Z took the top spot with $13.58 million or 18.15 percent of BSV trading volume in the BCHSV/BTC trading pair. Following up is IDCM and Binance with 7.4 percent and 7.05 percent in the BCHSV/USDT trading pair.
Prior to the recent mid-week bullish increase, the coin had been on a downtrend stretching from $69.41 to $61.07, and immediately post the uptrend, the coin shot down from $69.46 to $63.19. The coin shot up on February 6 from $58.99 to $69.41.
The coin’s immediate support level stands at $69.55, which the coin touched mid-week and is now trading below, while the coin’s immediate resistance stands at $58.14.
The Parabolic SAR points to a bearish swing for the coin as the dotted lines are aligned above the coin’s trend line.
The MACD line shows that the coin broke into a bullish zone at 1500 UTC on 6 February, and now correcting forces are pushing it back into the bearish zone.
The Relative Strength Index shows that after the bullish high raised the RSI to 80.92, it has been on a steady decline with the press time RSI at 44.69.