The broader crypto market has been undergoing a strong pullback this week. Bitcoin is yet to recover from the crash to $42K that happened on September 20. On the other hand, ethereum has dropped to lows of $2800. Despite this dip, some altcoins such as Bitcoin SV are still making gains.
BSV is trading at $142.90 at the time of writing after a 4.4% gain in 24 hours.
Bitcoin SV Price Analysis
Bitcoin SV’s volatility has spiked in the past few days. Like the rest of the market, the coin price dipped on September 20, but it has shown strong signs of recovery with the current uptrend.
If the upward trajectory holds, BSV could push to the next resistance of $145. If buyers still support the coin, BSV could go to new highs of above $150. Market support could also kick in at this level, and new monthly highs could be achieved.
However, despite BSV’s uptrend in the past 24 hours, the overall market support is still weak, and if the coin succumbs to this pressure, lows of $140 and $138 will be tested. Lack of buyer activity could also lead to the coin consolidating at the lows of $138 unless an overall bullish or bearish sentiment kicks in.
The Bitcoin SV network was developed from a fork of Bitcoin Cash. BSV is backed by a strong community known as the Bitcoin Association. This association has been instrumental in making developments for the network that help to push the coin’s value. One of the major developments that this association proposed was the BSV Conference in Miami last month, which boosted the coin’s awareness.
Where to Buy BSV
If you want to buy BSV during the current bullish rally, you can create an account on the following platforms:
eToro is a cryptocurrency exchange platform that is known for copy trading. Through copy trading, a new trader can copy the trading strategies used by expert traders. eToro also comes with user-friendly features that make trading on the platform easier.
You can also buy BSV on Binance, which is the largest cryptocurrency exchange platform. It gives users access to a broad range of cryptocurrencies and trading pairs. Binance’s trading fees are also low and competitive. Features on the exchange are also suitable for both new and expert traders.
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