In this SSV Network technical analysis, we will examine the current price action, trading volume, key levels and indicators for SSV-BTC. SSV Network is a decentralized platform that enables the creation and management of decentralized applications (dApps) with ease. Its novel consensus algorithm, called Proof of Useful Work (PoUW), ensures that only useful work is rewarded, resulting in a more secure and sustainable network. Additionally, SSV’s modular architecture allows for seamless integration with other blockchain networks, making it an ideal solution for interoperability within the cryptocurrency space.
SSV Network Price Overview:
As of May 20, 2024, SSV Network is trading at approximately 0.00065 BTC. Let’s dive into the detailed price action for SSV-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00064 |
| High (H) | 0.00066 |
| Low (L) | 0.00063 |
| Close (C) | 0.00065 |
| Volume (C) | 7,044.78 |
- Open (O): The opening price for today’s trading session was approximately 0.00064 BTC.
- High (H): SSV Network reached a daily high of around 0.00066 BTC.
- Low (L): The daily low for SSV-BTC was approximately 0.00063 BTC.
- Close (C): At the time of analysis, SSV Network is trading near its daily close of 0.00065 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 1.13% |
| 3D Change (%) | 7.51% |
| 7D Change (%) | 13.99% |
| 30D Change (%) | 1.30% |
| 90D Change (%) | 1.13% |
| YTD Change (%) | 3.00% |
Over the past three days, SSVBTC has increased by approximately 7.51%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 13.99%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SSVBTC maintaining an upward trend of approximately 1.30%, despite intermittent fluctuations. Examining the last 90 days, SSVBTC has witnessed substantial increase of approximately 1.13%, reflecting strong long-term confidence. Year-to-date, SSVBTC has steadily increased by around 3.00%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
SSV Network Live Chart:
You can access a live price chart for SSV-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.79327.
- Momentum score is -0.11312.
SSV BTC Technical Analysis
SSV Network Trading Volume:
The trading volume for SSV Network (SSV) over the past 24 hours has been insignificant, with approximately 7,044.78 BTC traded against SSV. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): SSV is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): SSV Network is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for SSV-BTC is currently in the neutral zone, around 48.99878. This suggests that SSV Network is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
SSV Network (SSV-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Clearly see SSV Network’s (SSVBTC) bullish trend at 6.46e-04 BTC through detailed technical analysis, highlighting strong support and promising indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.