Bitcoin SV Price Continues an Upward Movement Towards $259 Level

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Azeez Mustapha

Updated: 13 October 2022

Bitcoin SV Price Analysis – August 07

BSV/USD is targeting the resistance level of $259 in which it may be penetrated in case the bulls increase their momentum. Another significant resistance level ahead can be found at $311 and $364.

BSV/USD Market

Key Levels:

Resistance levels: $259, $311, $364

Support levels: $217, $179, $153

BSV/USD Long-term Trend: Bullish

The market of BSV/USD opened at $234.10 and closed at $236.60 yesterday; that means there was an increase or gain of 1.07%. In other words, the bulls maintain their position in the Bitcoin SV market. The price is moving gradually towards the resistance level of $259 with the formation of daily bullish candles. A further increase in the trading percentage is possible.

Today’s Bitcoin SV market opens with another daily bullish candle above the 9 periods EMA and 21 periods EMA indicates that it may experience an increased volume and more bullish pressure. BSV/USD is targeting the resistance level of $259 in which it may be penetrated in case the bulls increase their momentum. Another significant resistance level ahead can be found at $311 and $364. When the resistance level of $259 holds, the price may change the direction towards the following support levels; $217, $179, and $153. The Relative Strength Index period 14 indicator is making a more bullish movement which connotes an increase in price.

BSV/USD Medium-term Trend: bullish

On the medium-term outlook, Bitcoin SV is on the bullish trend. The crypto slowly increasing within an ascending channel formed in the 4-hour chart. The coin is fluctuating above 9 periods EMA and 21 periods but at low volatility. This may continue until there is a radical fundamental occurrence in the crypto market.