Bitcoin SV Price: Buyers are  Warming Up to Push BSV to $311 Level

Bitcoin SV Price: Buyers are  Warming Up to Push BSV to $311 Level

Bitcoin SV Price Analysis – April 26

In case the bulls defend the support level of $233, there will be an increase in price towards the resistance level of $266 which may extend to $311 and $39 price levels. Further increase in the bears’ momentum may push down the coin to $233 level, which may decrease the price to $217 and $198 support levels.

BSV/USD Market

Key Levels:

Resistance levels: $266, $311, $439

Support levels:  $233, $217, $198

BSV/USD Long-term Trend: Bearish

Bitcoin SV is Bearish on the daily chart. BSV increased to the resistance level of $439 on April 16. The crypto market was dominated by the buyers. The buyers’ pressure could not break up the resistance level of $439. A bearish cross candle pattern was formed at the same level; this triggered the bearish trend. More bearish candle was produced to indicate an increase in the bears’ pressure. The demand level of $233 is reached.

BSV daily chart, April 26

Bitcoin SV has penetrate the dynamic support and resistance levels downside and the price is currently trading below the 9 periods EMA and 21 periods EMA which indicate that bears are in control of Bitcoin SV market. In case the bulls defend the support level of $233, there will be an increase in price towards the resistance level of $266 which may extend to $311 and $39 price levels. Further increase in the bears’ momentum may push down the coin to $233 level, which may decrease the price to $217 and $198 support levels. However, the relative strength index period 14 is at 50 level bending up to indicate buy signal.

BSV/USD Medium-term Trend: Bullish

Bitcoin SV is bullish on the medium-term outlook. The BSV was under the control of the sellers last week. The bearish momentum push down the price to the support level of $233. The Crypto consolidates at the level for short period of time due to low bearish pressure. It seems the bears are preparing to take over the Bitcoin SV market.

BSV 4 hour chart, April 26

The price is increasing and gradually crossing two EMAs upside. The price is trading above the 9 periods EMAs and 21 periods EMA which connotes a bullish movement. The relative strength index is displaying a bullish signal at the 50 levels which indicates an increase in price.

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Author : Azeez Mustapha

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