Bitcoin SV Price Analysis – March 14
Further increase in the bears’ pressure will decrease the price to break down the support level of $66 which may expose the price to $50 and $40 price level. In case the support level of $66 holds, the price may increase towards the resistance level at $82, $105 and $123.
Key Levels:
Resistance levels: $82, $105, $123
Support levels: $66, $50, $40
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 $82 holds and the bearish momentum is not enough to push the price below it. The dynamic resistance level was strong to the bulls. On March 10, the bears increase their momentum and push down the price below the support level of $82 and it is approaching the $66 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 $66 which may expose the price to $50 and $40 price level. In case the support level of $66 holds, the price may increase towards the resistance level at $82, $105 and $123.
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 $82. The price is decreasing towards the support level of $66.
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 28 levels displaying a bearish signal.
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