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BSV/USD faces rejection at $50

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Bitcoin SV price prediction failed to break above the upper boundary of the channel as the coin aims to touch the bottom of the $45 support.

Bitcoin SV forecast stats data:

  • Bitcoin SV price now – $48.8
  • Bitcoin SV Market Cap – $935.5 Million
  • Bitcoin SV Circulating Supply – 19.1 Million
  • Bitcoin SV total supply – 19.1 million
  • Bitcoin SV Coinmarketcap Ranking – Number 52

BSV/USD . market

Main levels:

Resistance Levels: $55, $56, $57

Support Levels: $45, $44, $43

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BSV/USD is trading at $48.8, down from its recent high of $50.0. The currency is moving to cross below the 9-day and 21-day moving averages in the market. However, the Bitcoin SV سعر price It is mainly influenced by speculative sentiment and technical factors, while fundamental developments remain in the shadows.

Bitcoin SV Price Prediction: Bitcoin SV (BSV) May Face Downside

The Bitcoin SV سعر price It continues to hover around the 9-day and 21-day moving averages, as the bulls are still holding onto their ground. Therefore, further downward movement within the market could push the coin below the moving averages with the next local support level at $47. This level is likely to limit the correction and act as a starting point for another ascending wave.

However, the sell-off is likely to gain momentum with the next focus on the $45, $44 and $43 support levels. Meanwhile, on the upside, initial resistance could be established above the 21-day moving average to touch the nearest resistance level at $50. An additional upward move could touch the $55, $56 and $57 resistance levels even though the daily RSI (14) is dropping towards the 40 level, which indicates bearish signals.

Against Bitcoin, the price of Bitcoin SV is still range bound, with the coin dropping towards the 9-day and 21-day moving averages. The bulls cannot keep the market above the moving averages but the RSI technical indicator (14) may cross below the 50 level. However, any further downward movement could identify the support level at 2400 SAT and below.

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BSVBTC – Daily Chart

Moreover, if the bulls consolidate and strengthen the market, the coin is likely to break out towards the upper boundary of the channel which could find potential resistance at 2750 SAT and above. Meanwhile, at the time of writing, Bitcoin SV price is currently changing to 5357 SAT as a spike in intra-market volatility may occur soon.

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Blockchain

The Casper Association has launched a $25 million grant to support developers on its blockchain

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scalable blockchain Casper Network announce Launching on November 23, the new Casper Accelerate Grant Program is created to support developers and innovators building applications to support infrastructure, end-user applications, and research innovation on the blockchain.

Casper Network is a Proof-of-Stake (PoS)-focused blockchain designed to help companies build private or permissioned applications, aimed at accelerating business and adoption of blockchain technology. The network also boasts a “triple scalability” solution, which revolves around “security, decentralization, and high throughput.” It also features upgradeable smart contracts, relatively lower gas fees compared to other layer one blockchains, and developer-friendly features to facilitate the evolution of the protocol as companies expand its use.

To complement the launch of its grants program, Casper said it is creating a new digital portal to support developers and innovators on the network with practical tools and code to help build their products. The developer portal is scheduled to go live in the first quarter of 2023.

Related: zkSync developer Matter Labs raises $200M, commits to open source platform

Despite being in a bear market, the projects are still working on fundraising and investing in improving the web3 ecosystem and adopting blockchain technology. On November 23, Cointelegraph mentioned that Onomy, a blockchain-based ecosystem from Cosmos, has raised millions of investors to develop its new protocol; Inclusion project Decentralized Finance (DeFi) and foreign exchange market.

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On October 18, Celestia Foundation It also announced that it has raised $55 million in funding to build a modular blockchain architecture with the goal of solving the challenges inherent in blockchain deployment and scaling. The company shared that it intends to build an infrastructure that will make it easy for anyone with the technical knowledge to deploy their own blockchain at minimal cost.