Bitcoin SV Price: Would Bears’ Pressure Increase to Reduce Price Beyond $80 Level?   

Updated:

Bitcoin SV Price Analysis – March 21

A bearish breakout may push the price to the support level of $80 which will expose the coin to the support level of $50 and $30. At the moment, the key resistance level to watch out for lies at $105 and $123. A further increase may take the price to $150.

Key Levels:

Resistance levels: $105, $123, $150

Support levels: $80, $50, $30

BSV/USD Long-term Trend: Ranging

Bitcoin SV is on the ranging movement on the daily chart. The bears lose momentum at the support level of $80 and the price could not go beyond the mentioned support level. The bulls’ pressure is equally weak and the resistance level of $85 stands as a barrier to the price. The coin maintain its ranging movement within $105 and $85 price level.

Daily 29

On the daily chart the price is trading above the 9 periods EMA and 21 periods EMA at low momentum. The price action is producing several dojis around $85 level. A bearish breakout may push the price to the support level of $80 which will expose the coin to the support level of $50 and $30. At the moment, the key resistance level to watch out for lies at $105 and $123. A further increase may take the price to $150. The Relative Strength Index (14) is at 55 levels with the signal line pointing to the north.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV is ranging on the 4 hour chart. The crypto is range-bound within the resistance level of $85 and support level of $80. Though, at the moment, the bulls seem to be gaining more pressure. The price is increasing towards the resistance level of $85. If the price break up the just mentioned level, bullish trend may commence.

4 Hours 13

The price is trading above the 9 periods EMA and 21 periods EMA which indicate that bulls’ pressure is increasing. The relative strength period 14 is displaying a bullish signal at 70 levels.

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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.