BSV and BCH Price Analysis: BSVUSD Performed Well After a Major Sell-off; BCHUSD Prices Have Surged More Than 60%

The BSV Blockchain network is open for participation and usage by anyone. It uses a native token (satoshi) to pay fees to write to the ledger.

BSV Blockchain is open for anyone to participate in and use. It has a native token (satoshi) used to pay fees for writing to the ledger, and the network custodian (or steward) is the BSV Association.

 

The network implements the Bitcoin protocol in its original design. It provides various capabilities that enterprises can use to gain enhanced and novel abilities that were not possible before the invention of the protocol.

 

 

Ichimoku analysis (4- hour chart)

 

Tenken-Sen- $49.35

 

Kijun-Sen- $47.21

 

Horizontal trend line- $48

 

Downtrend channel resistance- $46

 

BSVUSD has performed well after a major sell-off.

 

Any daily close above $60 confirms further bullishness.

 

The pair declined sharply after forming a minor top around March 3rd, 2024. Any major trend reversal can happen only if it closes above $126.

 

BCHUSD prices have surged more than 60%  in the past three weeks. It hit a high of $54.05 at the time of writing and is currently trading around $52.98. The pair holds above the short-term (21 and 55-day EMA) and the long-term moving average (200-day EMA).

 

The near-term resistance is around $60, any indicative breach above will take the pair to $782/$80/$90. On the lower side, immediate support is $45, and any violation below targets $40/$30.

 

Indicators ( 4- hour chart)

 

Directional movement index - Bullish

 

It is good to buy on dips around $47 with SL around $40 for TP of $72.

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