Bitcoin SV Price Analysis – February 14
A further upward movement may take the price to $150. A bearish breakout is expected at the support level of $83 which will expose the coin to the support level of $66 and $50. The Relative Strength Index (14) is moving towards the south region, indicating a price decrease.
Key Levels:
Resistance levels: $105, $123, $150
Support levels: $83, $66, $50
BSV/USD Long-term Trend: Ranging
Bitcoin SV is consolidating below the resistance level of $105, started a bearish trend on 08 December; this is clearly noticed when the long daily bearish candle penetrated many former support levels such as $150, $123. More bearish candles continue to emerge and the price declined below the two EMAs. The cryptocurrency broke below the $105 level but currently ranging within $105 and $83 levels.
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 mentioned levels on the daily chart. Currently, the key resistance level to watch out for lies at $105 and $123. A further upward movement may take the price to $150. A bearish breakout is expected at the support level of $83 which will expose the coin to the support level of $66 and $50. The Relative Strength Index (14) is moving towards the south region, indicating a price decrease.
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.
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 35 levels. You can purchase crypto coins here: Buy coins
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