Bitcoin SV Price Analysis – March 28
Further increase in the buyers’ momentum may breakup the resistance level at $105 level and increase the price to $123 and $150 price level. Inability to break up the $105 price level may lead to ranging market or a decrease in price towards the support levels of $90, $73 and $50.
Key Levels:
Resistance levels: $105, $123, $150
Support levels: $90, $73, $50
BSV/USD Long-term Trend: Bullish
On the daily chart, Bitcoin SV is bullish. The bears were controlling the Bitcoin SV market last two weeks. The sellers’ pressure failed at the support level of $73 and a bullish reversal candle pattern emerged called bullish engulfing. This triggered the upward movement of the coin. It increases and break up $90 level currently targeting the resistance level of $105.
Bitcoin SV retain its trading above the 9 periods EMA and 21 periods EMA on the daily chart while the fast moving EMA remains above the slow moving EMA as a bullish movement indication. Further increase in the buyers’ momentum may breakup the resistance level at $105 level and increase the price to $123 and $150 price level. Inability to break up the $105 price level may lead to ranging market or a decrease in price towards the support levels of $90, $73 and $50. However, the Relative Strength Index (period 14) is above 70 levels with the signal line pointing up to indicate buy signal.
BSV/USD Medium-term Trend: Bullish
Bitcoin SV is bullish on the 4 hour chart. The Crypto tested the support level of $73 on March 15. The bulls defended the mentioned level and the price reversed. The bulls take over the Bitcoin SV market and it increases towards the $105 resistance level. Throughout last week, the coin was under the control of the buyers. There is tendency for the price to continue increasing above the $105 level.
The two EMAs are separating from each other and the price is trading above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is above 74 levels displaying buy signal.
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