The BSV token price is trading below the demand zone on a daily time frame.
The pair of BSV/USDT is trading at the price level of $43.470 with a gain of 0.60% in the past 24 hours.
So far, 2022 has been a difficult year for cryptocurrency, and bitcoin sv (BSV) has battled alongside the market. After reaching $125.23 on January 2nd, the overall direction of movement was downhill. Things worsened in May with the depegging of the UST stablecoin, the collapse of the related LUNA cryptocurrency, and the following market crash.
BSV on the daily chart
Source: TradingView
The token’s overall outlook is bearish, with price forming lower highs and lower lows. As can be seen, BSV is presently trading at $43.470, up 0.60% in the last 24 hours. It is now trading below its key Moving Averages of 50 and 200. (Red line is 50 EMA and the blue line is 200 EMA). Token is encountering strong resistance at the 50 EMA; it tried to cross the 50 EMA but was unable to hold above it. On a daily time frame, t
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