Bitcoin SV reached $208 on September 1 before market-wide selling pushed the price down to $150 by September 4. Three days of decline wiped out nearly 28% of gains accumulated between mid-July and ear
Bitcoin SV reached $208 on September 1 before market-wide selling pushed the price down to $150 by September 4. Three days of decline wiped out nearly 28% of gains accumulated between mid-July and early August.
More than 110,000 wallets bought Bitcoin SV near $181, a level where bulls may attempt to defend. The token has fallen 5% over the past day and 14% over the past week, while Bitcoin dropped 14% and Ethereum slid 28% during the same stretch.
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Ali Martinez identified a bullish divergence. Trading volume surged from $920 million to $1.7 billion despite the falling price, evidence that buying pressure persisted. The 9th-ranked cryptocurrency, with a $165 million market cap, received a boost from its new listing on Hotbit Korea.
Bitcoin SV faces resistance around $174 on the hourly timeframe and may see a short-term bounce. The token holds $170 as current support.
A break above $175 would open the way to higher resistance zones. IntoTheBlock data points to a significant obstacle between $179 and $184, where 221,000 coins sit in wallets that bought near $181.68. Another barrier appears from $185 to $190, containing more than 750,000 coins accumulated by 110,000 wallets at an average price of $188. Both groups sit underwater, meaning mass capitulation remains unlikely.
To reach higher ground, buyers must clear the 50% Fibonacci retracement, the 100-period simple moving average, and the 20-day exponential moving average, all near $182.83 and $182.62.
If momentum persists, the next targets are the 200-day moving average at $198.07 and the 50-day moving average at $202.58. A break above those levels opens a path to $230.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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