Bitcoin SV Price Is Range-Bound Within $259 and $217 Levels
Login

Bitcoin SV Price Is Range-Bound Within $259 and $217 Levels

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
Bitcoin SV Price Analysis – February 22

A breakout is expected in the BSV market. The breakout at the resistance level of $259 will propel the price towards $311 -$364. In the same vein, the breakout at $217 will reduce the price to $179 and $153.

BSV/USD Market
Key Levels:

Resistance levels: $259, $311, $364

Support levels: $217, $179, $153

BSV/USD Long-term Trend: Ranging

BSV/USD market is ranging. Last two weeks the crypto was heading towards a $311 resistance level before it was interrupted by the bearish force. It fell back to the support level of $217 where the bears lose their momentum and could not break down the support level of $217. The bulls’ momentum is weak and could not break up the resistance level at $259. The coin is range-bound within the resistance level of $259 and the support level of $217.

BSVUSD Daily chart, February 22

Ranging movement may continue as the market opens today with the bearish candle with low momentum. Bitcoin SV market is trading in between the 9 periods EMA and 21 periods EMA which indicates that ranging movement is ongoing in the BSV market. A breakout is expected in the BSV market. The breakout at the resistance level of $259 will propel the price towards $311 -$364. In the same vein, the breakout at $217 will reduce the price to $179 and $153.

BSV/USD Medium-term Trend: Ranging

On the medium-term outlook, Bitcoin SV is in the ranging mode. The crypto formed a symmetrical triangle last week and the price breakout bearishly but with low momentum. That is why there was no significant movement within the market. Low momentum from the bears and the bulls leads to ranging movement. BSV market awaiting a breakout.

BSV 4-hour chart, February 22

The two EMAs are interlocked to each other and the price is trading over and around the EMAs which confirms that consolidation is in progress. The relative strength index is displaying a bearish signal at the 50 levels which indicates that there could be a bearish breakout.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News