As crypto markets brace for major movements, Bitcoin SV price has undertaken a major +2-% BSV price pump, leaving some side-lined traders asking ‘is it too late to buy Bitcoin SV?’. Find out in BSV Price Analysis.
This comes as markets sit on the precipice of a huge fundamental winds, stemming from tomorrow’s highly anticipated Bitcoin Spot ETF decision by the SEC, and the upcoming excitement for the Bitcoin halving event in late April 2024.
Coinbase finally saying goodbye to BSV pic.twitter.com/o1FxAqgy6J
— Alex Gladstein (@gladstein) November 6, 2023
Yet, question marks remain over ongoing BSV price action due to an imminent removal of support for BSV on the Coinbase app – which could limit onboarding of new entrants and knock the confidence of holders.
BSV Price Analysis: As Bitcoin SV Price Shoots-Up Will BSV Bounce or Flounder?
As price action fights for support, Bitcoin SV is currently trading at a market price of $89.21 (Representing a 24-hour change of -3.84%).
This comes after a major -37% retracement over the past week saw BSV price drop down in a retest of 20DMA support.
The 20DMA has been critical in providing under footing to much of recent upside Bitcoin SV price action, and now stands at around $77.54.
Meanwhile the 200DMA remains below the current trading channel, around a market price of $44 – providing a baseline of lower support.
Recent price action saw a major +20% pump yesterday, as price rallied from the 20DMA, now in localized consolidation – a possible emergent panhandle pattern could suggest a bullish outlook on the short time frame.
However, despite the retracement dip, the RSI has struggled to cool-off to any substantive degree – with the key indicator still showcasing bearish divergence at an overbought 63.18.
As for the MACD, bearish outlook also dominates the picture, with minor divergence at -0.41.
Overall, Bitcoin SV looks relatively strong here, with all eyes waiting to see a successful consolidation following the recovery pump – if this holds a bullish panhandle points the way.
To the upside, BSV price is left with an upside target at $102.42 (a possible +12.38%).
While downside risk could see BSV price drop down to 20DMA support at $77.54 (a potential -14.92%).
This leaves Bitcoin SV price with a risk: reward ratio of 0.83 – a sub-par entry worth awaiting a later entry – possibly suggesting it is indeed too late to buy BSV.
But while Bitcoin SV price offers an unappealing entry according to the BSV price analysis, an alternative play is gaining traction in meme coin markets.
Meme Kombat Explodes Over $6.47M Raised In Skyrocketing Presale – Don’t Miss Out on Bitcoin SV Alternative
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
We are unbelievably close to reaching $6.5 million raised in the $MK presale where we will be giving away 25,000 USDT
Last push. Let’s go! pic.twitter.com/93vMu2jaRY
— Meme Kombat (@Meme_Kombat) January 9, 2024
Season 1 of the project promises 11 unique meme characters, ensuring plenty of action. Season 2 is already planned for December 2023. The project’s decentralized nature, along with the excitement of AI-driven battles, guarantees outcomes that are transparent yet unpredictable.
BSV Price Analysis Blues? Meme Kombat Pits Meme Communities in High Octane Staking Battles
The project goes beyond excitement; it’s founded on trust. Meme Kombat’s dedication to transparency shows in their upcoming smart contract security audit.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His role as COO of North Technologies, and two decades in process design add credibility to Meme Kombat. Whiteman’s public profile and the Amsterdam address give extra trust in an era of project anonymity.
Embrace the future of meme-based gaming and betting with Meme Kombat.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The post Is It Too Late to Buy Bitcoin SV? BSV Price Shoots Up 20% as Meme Kombat Approaches Launch appeared first on Cryptonews.