Bitcoin SV Price: Can Bears Break Down Support Level at $113?  

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Bitcoin SV Price Analysis – January 03

Currently, the key resistance level to watch out for lies at $148 and $171. A further upward movement may take the price to $194. A bearish breakout is expected at the support level of $113 which will expose the coin to the support level of $73 and $41

Key Levels:

Resistance levels: $148, $171, $194

Support levels: $113, $73, $41

BSV/USD Long-term Trend: Ranging

Bitcoin SV is consolidating below the resistance level of $148, started a bearish trend on 10 November; this is clearly noticed when the long daily bearish candle penetrated support levels such as $171, $148. More bearish candles continue to emerge and the price declined below the two EMAs. The cryptocurrency broke below the $148 level but currently ranging within $148 and $113 levels.

Bitcoin SV daily chart, January 03

The daily chart has shown that sellers’ and buyers’ momentum is weak. The price action has formed several dojis on a straight line within the two EMAs on the daily chart. Currently, the key resistance level to watch out for lies at $148 and $171. A further upward movement may take the price to $194. A bearish breakout is expected at the support level of $113 which will expose the coin to the support level of $73 and $41. The Relative Strength Index (14) is not displaying specific price direction.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV’s performance has been very low on the 4 hour chart, this may be due to a persistence low pressure from the sellers and buyers of Bitcoin SV. In other words, the price actions remain in a consolidation zone for many days ago. The market’s volatility is low and this may continue unless there is a breakout to the north or South.

Bitcoin SV4-hour chart, January 03

The price is trading over and around the 9 periods EMA and 21 periods EMA which indicate that consolidation is in progress. The relative strength period 14 is displaying non directional signal at 50 levels. You can purchase crypto coins here: Buy coins

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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.