Bitcoin SV Price Ranges Within $113 and $148 Levels

Updated:

Bitcoin SV Price Analysis – December 27

Inability to break down the support level of $133, the price may reverse towards the resistance level at $148, $171 and $194. An increase in the bears’ pressure may decrease the price to break down the support level of $113 which may expose the price to $73 and $41 price level.

Key Levels:

Resistance levels: $148, $171, $194

Support levels: $113, $73, $41

BSV/USD Long-term Trend: Bearish

On the daily chart, Bitcoin SV is bearish. The bulls and the bears are struggling with each other on the daily chart of Bitcoin SV. That is why there was no significant movement in the market last week. Nevertheless, the bears are still holding onto the market.    The support level of $113 holds and this prevents the bearish breakout at the level.

BSVUSD Daily chart, December 27

It seems the bears’ momentum is getting weak as the crypto breaks up the 9 periods EMA and the 21 periods EMA is above the price which indicate a weak bearish momentum. Inability to break down the support level of $133, the price may reverse towards the resistance level at $148, $171 and $194. An increase in the bears’ pressure may decrease the price to break down the support level of $113 which may expose the price to $73 and $41 price level.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV is on the ranging movement on the medium-term outlook. After the opposition of the bulls at $171 resistance level on December 07. The scenario led to the price declination and it tests the support level of $113. Both the bulls’ and the bears’ momentum became weak and the coin commences a consolidation movement within the resistance level of $148 and $113 support level.

Bitcoin SV 4-hour chart, December 27

The price is trading around the 9 periods EMA and 21 periods EMA which indicate that bears’ and bulls’ momentum is equal. The relative strength index period 14 is at 50 levels displaying no specific market direction.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.