BSV Price Analysis – October 29
Bitcoin SV has proved its worth many times. Over the last few days, the coin has managed to show overall growth as the price target more gains for the bulls.
Resistance levels: $160, $170, $180
Support levels: $105, $95, $85
The price of Bitcoin SV is trading with upward momentum in the market, and the traders are happy with it. They are gazing at the chart and eyeing for a bigger hit. It seems that the cryptocurrency is on the path of fulfilling their desire. If BSV coin continued to move with a similar momentum then, it would be difficult to breach a higher level. BSV price is currently trading at $139.54 and moving above the 9-day and 21-day moving average within the rising channel.
Currently, the price is testing the channel’s upper boundary at $141. If the market can break away this time, the price of BSV is likely to hit $160, $170, and $180 resistances. However, if the channel’s upper boundary continues to bolster as an active defensive line for the bears, a massive sell-off is likely to floor the market to $105, $95 and $85 supports.
Notwithstanding, the long-term outlook still remains bullish for the BSV/USD pair as the MACD is making a positive cross that should provide more buying opportunities for the market.
Against Bitcoin, the coin started the upward movement on October 15 and the bulls have steadily marched towards the resistance level of 0.015 BTC. Moreover, the trend will continue to go up if the buyers could sustain the pressure further. There’s still more room to contain a long position for BSV traders.
Therefore, the price of Bitcoin SV is likely to go up as high as 0.0165 BTC and above. At the same time, we can expect more volatility in the next few days and a possible downtrend is likely to meet major support at the 0.0130 BTC and below. Presently, MACD is facing a resistance at the zero-level in the long-term for BSV, indicating a bullish movement.
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