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

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.

BSVUSD Daily chart, July 05

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.

BSVUSD 4hours chart, July 05

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.

You can purchase crypto coins here.  Buy Tokens

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

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