Bitcoin SV Price May Break Down Support Level at $153

Bitcoin SV Price Analysis – September 14

An increase in the sellers’ pressure may break down the demand level at $153; the targeted price level may be the support at $134 and $130. Ranging movement may commence in case the support level of $153 holds. However, the price may found resistance levels at $185, $198, and $217 level.

BSV/USD Market

Key Levels:

Resistance levels: $185, $198, $217
Support levels: $153, $134, $130

BSV/USD Long-term Trend: Bearish

The sellers maintain their position in the BSV market. BSV price hits the support level at $153 on September 03 with a strong and massive bearish candle but unable to break down the level. The price retraced to retest the resistance level at $185; this was carried out on September 08. The price bounces off the resistance level and returns the price under the control of the sellers. The price may break down the support level at $185.

The crypto has crossed the two dynamic support levels downside and it is trading below 9 periods EMA and 21 periods EMA with the two separated from each other to indicate an increase in the bears’ momentum. An increase in the sellers’ pressure may break down the demand level at $153; the targeted price level may be the support at $134 and $130. Ranging movement may commence in case the support level of $153 holds. However, the price may found resistance levels at $185, $198, and $217 level.

BSV/USD Medium-term Trend: Bearish

The last week’s bearish target was reached; BSVUSD decline to test the support level at $153. The mentioned level repels the price. The bulls seize the opportunity to increase the price and retest the resistance level at $185. The bulls’ momentum is not strong enough to break up the $185 price level.

BSV is currently declining towards the support level at $153 and the price is trading below the 9 periods EMA and the 21 periods EMA. The relative strength index is below 40 levels with the signal line bending down to indicate a sell signal.