Bitcoin SV Price: Buyers Are Exerting Pressure to Break Up $58 Level

Updated:

Bitcoin SV Price Analysis – June 06

An increase in the bulls’ pressure will break up the resistance level of $58 in which the resistance levels of $71 and $87 may be tested. In case the resistance level of $58 holds, the price may decrease towards the support levels at $40, $35 and $30.

Key Levels:

Resistance levels: $58, $71, $87

Support levels: $40 $35, $30

BSV/USD Long-term Trend: Bullish

On the daily chart, Bitcoin SV is bullish. The Crypto has been on a ranging movement within the resistance level of $58 and support level of $40 for more than two weeks ago. The support level of $40 has been tested three times. It is an indication that bulls will dominate the market soon. The coin is increasing gradually with the pressure to break up the resistance level of $58. There is probability that bulls will dominate the market.

The two EMAs are bending up to follow the direction of the price. The crypto is trading above the 9 periods EMA and the 21 periods EMA which indicate bullish momentum. An increase in the bulls’ pressure will break up the resistance level of $58 in which the resistance levels of $71 and $87 may be tested. In case the resistance level of $58 holds, the price may decrease towards the support levels at $40, $35 and $30.

BSV/USD Medium-term Trend: Bullish

Bitcoin SV is on the bullish movement on the medium-term outlook. The bears movement could not continue to dominate the Bitcoin SV market when the price reach the support level of $47. The momentum of the bulls increase and the price incline to test the resistance level of $58 in which it may be broken upside provided bulls exert more pressure.

The price is trading above the 9 periods EMA and 21 periods EMA which indicate that bulls’ momentum is high. The relative strength index period 14 is at 67 levels displaying a bullish signal.

You can purchase Lucky Block here: Buy LBlock

 

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.