bullish

Bitcoin SV

Litecoin

Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bitcoin-sv-recovery-run-eyes-50-a-17-surge/" rel="noopener noreferrer nofollow">Bitcoin SV Recovery Run Eyes $50, a 17% Surge!&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> back under the $60,000 mark, the close and long-distance cousins of Bitcoin, e.g., Litecoin and Bitcoin SV, are facing high fluctuations.&nbsp;
The BSV price shows a bullish comeback after a massive three-day drop of 12.45%. Following the 2.89% jump yesterday, the Bitcoin SV price is back to $42.86 with an intraday jump of 0.58%. Will this recovery lead to crossings above $50?
<h2 class="wp-block-heading" id="h-bull-cycle-in-bsv-weekly-trend-possible">Bull Cycle in BSV Weekly Trend Possible</h2>
In the weekly chart, the Bitcoin SV price remains under intense bearish influence with the long-coming resistance trendline in action. Currently, the weekly BSV price trend displays an early bullish recovery from the $18.33 support level.&nbsp;
<figure class="wp-block-image"><img decoding="async" width="1600" height="764" src="https://image.coinpedia.org/wp-content/uploads/2024/08/29143407/image-542.png" alt="BCV 1W price analysis 29th aug 2024" class="wp-image-344159" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/29143407/image-542.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143407/image-542-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143407/image-542-1024x489.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143407/image-542-768x367.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143407/image-542-1536x733.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143407/image-542-150x72.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure>
After an early reversal from the $34 level, the Bitcoin SV price has increased by 23.81% over the last eight weeks with a diagonally positive move.&nbsp;
However, in the 4-hour chart, the bullish trend in BSV price is more significant with a V-shaped recovery. The altcoin surpassed the $47 mark at the 61.80% Fibonacci level, signaling a surge in demand. However, the three-day drop results in a pullback under the $38.20 level and tests the $40 psychological mark.&nbsp;
<figure class="wp-block-image"><img decoding="async" width="1600" height="763" src="https://image.coinpedia.org/wp-content/uploads/2024/08/29143409/image-543.png" alt="BSV 4H price analysis" class="wp-image-344160" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/29143409/image-543.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143409/image-543-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143409/image-543-1024x488.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143409/image-543-768x366.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143409/image-543-1536x732.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/29143409/image-543-150x72.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure>
With the Bitcoin price stabilizing under $60K, the Bitcoin SV price makes a comeback of 3.66% and is heading towards the 50% Fibonacci level in the four-hour chart at $44.83.&nbsp;
Technical Indicators:
MACD: The MACD indicator shows a bullish crossover opportunity in the weekly and the four-hour price trend.&nbsp;
RSI: The weekly RSI line reveals a bullish divergence, increasing the possibility of a bull run to challenge the overhead trend line. Similarly, in the four-hour chart, the RSI line spikes up from the oversold zone and is heading to surpass the halfway line.&nbsp;
<h2 class="wp-block-heading" id="h-will-bsv-price-continue-to-surge">Will BSV Price Continue To Surge?</h2>
Currently, the weekly 4-hour price trend teases a bullish comeback with a morning star pattern to reclaim the surface above the 61.80% level at $47.25. Thus increasing the chances of a bullish reclamation of over 50% of the psychological mark. On the flip side, the support levels are present at $40, $39.40, and $34.55.

Bitcoin SV Recovery Run Eyes $50, a 17% Surge!

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