Bitcoin SV Makes A Modest Gain On A Red Day

June 3, 2022

Bitcoin SV is leading the gains among top coins as the coin market entered a red day on June 3, 2022. The coin gained 3.03% in the past 24 hours, and trades at $54.53. It is the biggest gainer among the top 100 cryptocurrencies.

Another gainer among the top coins is WAVES, which made a gain of 0.72% at a market price of $9.46. On the 24-hour chart, only these 2 coins are in green among the top 100.

Bitcoin SV is ranked #51 according to its market capitalization of $1.04 billion. Its market cap at the time of reporting is up by 2.98%. The volume traded in the last 24 hours is $174 million. This is a 22.33% increase from its value in the past 24 hours as well.

Breaking Below 3 Years Support

On May 12, BSV dropped to a low of $44.99, after falling below its critical support. The $54.70 support that was broken has held since April 19, 2019.

The 10-day moving average shows that BSV is in an uptrend. However, on a longer 20-day MA time-frame, we can see that the cryptocurrency is moving towards a consolidation phase.

With its Relative Strength Index (RSI) of 57, BSV is not yet in the overbought region, so we should expect higher prices in the near term unless the pressure of the general coin market comes to bear on BSV investors.

Bitcoin SV claims to be

“The original protocol, with a focus on stability, scalability, security, instant transactions, and global adoption.“

Bitcoin And Other Top Coins

Bitcoin is down by 2.08%, trading at $29,543, according to Coinmarketcap data. Ethereum is down by 3.33%, at a market price of $1,750. Binance Coin is down by 2.61% and trades at $296.6, while Cardano ADA is down by 3.60% at a market price of $0.559.

Other coins in losses are XRP, which is trading at $0.3869, down by 2.62%, Solana (SOL), down by 4.64% at $38.36. Dogecoin (DOGE), $0.08018, down by 2.14%. Polkadot (DOT), trading at $9.36 has lost 3.72% in the past 24 hours.

With 98 of the top 100 coins in red, the global market cap of the coin market is down by 1.98% at $1.22 trillion.

Author: Kamma

Kamma is passionate about the prospects of blockchain and the freedom cryptocurrencies afford people across borders. He holds small amounts of bitcoin and tether.