Bitcoin SV Price: Sellers Opposes Price Increase at $152 Level

Bitcoin SV Price Analysis – July 05

In case buyers increase their pressure the resistance level of $152 may be penetrated and the price may increase further to $185 and $217 levels. An increase in the bears’ pressure will decrease the price to break down the support level of $134 which may decrease the price to $101 and $73 price level.

Key Levels:

Resistance levels: $152, $185, $217

Support levels: $134, $101, $73

BSV/USD Long-term Trend: ranging

Bitcoin SV is ranging on the daily chart. Last two weeks, the movement of Bitcoin SV has been within the resistance level of $185 and support level of $152. On June 21, the bears gather more pressure to break down the support level of $152 and the price tested $101 price level. The price is rejected at the support level of $101, increased towards the $185 level. The bears’ pressure opposed the increase and drop the price within $152 and $134 levels consolidating.

The two EMAs are coming together and the crypto is trading between the 9 periods EMA and the 21 periods EMA which indicate that the bears’ and the bulls’ momentum are low. Incase buyers increase their pressure the resistance level of $152 may be penetrated and the price may increase further to $185 and $217 levels. An increase in the bears’ pressure will decrease the price to break down the support level of $134 which may decrease the price to $101 and $73 price level.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV is on the ranging movement on the medium-term outlook. The coin changed direction from bearish to bullish on June 23 after tested the support level at $101. The coin increases towards the resistance level at $152. The buyers’ momentum fail and could not break up the resistance level of $152. Likewise the sellers’ pressure is low and could not break down the support level of $134. The price commence ranging movement within the levels.

The price is hovering over the 9 periods EMA and 21 periods EMA which indicate that consolidation is in progress in the Bitcoin SV market.

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