Bitcoin SV Price Analysis – June 21
Further increase in the bears’ pressure will decrease the price to break down the support level of $134 which may expose the price to $108 and $103 price level. In case the support level of $134 holds, the price may increase towards the resistance level at $152, $185 and $206.
Key Levels:
Resistance levels: $152, $185, $206
Support levels: $134, $108, $103
BSV/USD Long-term Trend: Bearish
On the daily chart, Bitcoin SV is bearish. Last week, the coin was on the ranging movement in the daily chart. The former support level at $152 holds and the bearish momentum is not enough to push the price below it. The former resistance level at $185 remains strong to the bulls. On June 20, the bears increase their momentum and push down the price below the support level of $149 and it is approaching the $134 support level.
The two EMAs are bending down to follow the direction of the price. The crypto continue its trading below the 9 periods EMA and the 21 periods EMA which indicate bearish momentum. Further increase in the bears’ pressure will decrease the price to break down the support level of $134 which may expose the price to $108 and $103 price level. In case the support level of $134 holds, the price may increase towards the resistance level at $152, $185 and $206.
BSV/USD Medium-term Trend: Bearish
Bitcoin SV is on the bearish movement on the medium-term outlook. The bears eventually dominates the Bitcoin SV market. The momentum of the bears increases and the price decline to break down the support level at $152. The price is decreasing towards the support level of $134.
The price is trading below the 9 periods EMA and 21 periods EMA which indicate that bears are in control of the market. The relative strength index period 14 is below 40 levels displaying a bearish signal.
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