Bitcoin SV Price Bounces at $101 Support Level

Bitcoin SV Price Analysis – July 26

In case the bulls break up $148 level, the key resistance level to watch out for is $185 and a further increase may take the price to $217. A bearish breakout at the support level of $101 may push the price to the support level of $73 and $41.

Key Levels:

Resistance levels: $148, $185, $217

Support levels: $101, $73, $41

BSV/USD Long-term Trend: Bullish

Bitcoin SV is bullish on the daily chart. The crypto has been on the bearish movement for more than two weeks. The bears pushed the coin to test the support level of $101 on June 22, it carried out retracement to $148 price level. The just mentioned level holds and the price returned towards the previous low level. The support level of $101 was tested second time on July 20. At the moment, it seems the bulls are ready to trigger the bullish trend with the formation of daily strong bullish candle.

The price is trading above the 9 periods EMA and 21 periods EMA on the daily chart. The price action is producing bullish engulfing candle at the moment. On the daily chart, in case the bulls break up $148 level, the key resistance level to watch out for is $185 and a further increase may take the price to $217. A bearish breakout at the support level of $101 may push the price to the support level of $73 and $41. The Relative Strength Index (14) is at 50 levels with the signal line pointing up to indicate buy signal.

BSV/USD Medium-term Trend: Bullish

Bitcoin SV is bullish on the 4 hour chart. The sellers prevailed on the crypto last week and it found support at $101 level. The bears lose pressure at the support level of $101. The price bounces and increasing towards the resistance level of $148.

The price is trading above the 9 periods EMA and 21 periods EMA which indicate that bulls’ pressure is increasing. The relative strength period 14 is above 70 levels displaying strong bullish directional signal. You can purchase crypto coins here: Buy coins