Bitcoin SV Price May Penetrate $185 Price Level to Target $179

Bitcoin SV Price May Penetrate $185 Price Level to Target $179

Bitcoin SV Price Analysis – August 27

The coin is facing the support level at $185, in case the bears maintain or increase their momentum, the price may decrease to $179, further increase in the bears’ pressure may push down the price to $134 price level.

BSV/USD Market
Key Levels:

Resistance levels: $198, $217, $237
Support levels: $185, $179, $134

BSV/USD Long-term Trend: Bearish

The sellers maintain their stand in the BSV market. In other words, Bitcoin SV is bearish in the long-term outlook. The price retraced to test the broken level of dynamic resistance on August 24. Immediately after the scenario, the bears took over the market with the formation of a strong bearish candle that penetrates the former demand level of $198. This makes the price to decline towards the demand level at $185.

BSV daily chart, August 27

Today, the bears open the market with bearish momentum.
The price has crossed the 9 periods EMA and 21 periods EMA downside and continue to trades below the two EMAs. The coin is facing the support level at $185, in case the bears maintain or increase their momentum, the price may decrease to $179, further increase in the bears’ pressure may push down the price to $134 price level. Failure to break down the $185 price level by the sellers, may lead to price reversal and it will be confronted by the resistance levels at $198, $217, and $237.

BSV/USD Medium-term Trend: Bearish

Three days ago, the coin was increasing towards the resistance level at $217. The bears interrupted the price increase with the formation of a bearish engulfing candle. Bearish momentum increases and the price crossed below the barrier at $198 demand level. The price is currently consolidating around $185 level.

BSV 4-hour chart, August 27

The Relative Strength Indicator is below 50 levels pointing downside to indicate a sell signal. The price may penetrate the $185 price level to target $179 price level.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!