Bitcoin SV Technical Analysis: BSV/USD eying up $200 after a massive 22% price boost

BSV/USD peaked at $197.16 in the last 24 hours only three dollars shy of $200.
BSV has blasted through several resistance levels and has created a daily uptrend.

Lorenzo Stroe Independent Analyst

Bitcoin SV is making a comeback after a ridiculous 22% breakout almost hitting $200 for the first time since June 11. Of course, BSV is currently inside a daily uptrend and above the 12-EMA and the 26-EMA.

BSV/USD daily chart

The next step for BSV will be to crack $200. Besides the psychological level, bulls are only facing resistance at $210, $218.71, and $228.54. If they can manage to climb above all the three levels, the path towards $260 and $300 is basically guaranteed as there are no significant resistance levels in the way.

BSV/USD 4-hour chart

Unfortunately, the breakout happened really quickly, and we still need to assess whether the move was caused by a big whale or if it’s organic.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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