Bitcoin SV Price: Bears are Dominating Over Bulls, $113 Level May Be Reached  

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Bitcoin SV Price Analysis – November 29

Further increase in the bears’ pressure will decrease the price to break down the support level of $148 which may expose the price to $113 and $73 price levels. In case the support level of $148 holds, the price may increase towards the resistance level at $171, $194 and $206.

Key Levels:

Resistance levels: $171, $194, $206

Support levels: $148, $113, $73

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 resistance level at $194 holds and the bullish momentum is not enough to push the price above it. The support level at $171 remains strong to the bears. On November 16, the bears increase their momentum and push down the price below the support level of $171 and it is trying to break down the $148 support level.

BSVUSD daily chart, November 29

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 $148 which may expose the price to $113 and $73 price levels. In case the support level of $148 holds, the price may increase towards the resistance level at $171, $194 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 $171. The price is decreasing towards the support level of $148.

BSVUSD 4-hour char, November 29

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 50 levels displaying a bearish signal.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.