Bitcoin SV Price Continues Ranging Movement Within $185 and $152 Levels

Bitcoin SV Price Continues Ranging Movement Within $185 and $152 Levels

Bitcoin SV Price Analysis – June 14

An increase in the bulls’ pressure will increase the price to break up the resistance level of $185 which may expose the price to $217 and $233 price level. In case the resistance level of $185 holds, ranging movement may continue or the price may decrease towards the support level at $152, $134 and $108.

Key Levels:

Resistance levels: $185, $217, $233

Support levels: $152, $134, $108

BSV/USD Long-term Trend: Ranging

Bitcoin SV is ranging on the daily chart. The ranging movement continues in the daily chart as the support level at $152 holds and the bearish momentum is not enough to push the price below it. In the same way, the resistance level at $185 remains strong to the bulls. It makes it impossible for the bulls to break up the level. The ranging movement continues within the $185 and $152 price level.

BSVUSD daily chart, June 14

The two EMAs are parallel to each other while the price retain its trading below the 9 periods EMA and the 21 periods EMA which indicate that consolidation is in progress. An increase in the bulls’ pressure will increase the price to break up the resistance level of $185 which may expose the price to $217 and $233 price level. In case the resistance level of $185 holds, ranging movement may continue or the price may decrease towards the support level at $152, $134 and $108.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV is on the ranging movement on the medium-term outlook. The coin remains range-bound within the $185 and $152 price levels. The low momentum from the bulls prevents the breakup of the resistance level of $185 coupled with low pressure from the bears led to the continuation of ranging movement on 4 hour chart.

BSVUSD 4 hour chart, June 1 4

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 a bulliish signal at 60 levels. You can purchase crypto coins here: Buy coins

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.