BSV Price Analysis – March 16
BSV/USD has been trading between the bull and the bear, while the price of the cryptocurrency fluctuates sideways.
Resistance levels: $186, $196, $206
Support levels: $45, $35, $25
Bitcoin SV (BSV) is trading at $110.17. The coin is seen moving within the channel and below the 9-day and 21-day moving averages, indicating an indecisive movement in the market. For the time being, the market price is moving towards the lower limit of the channel and the trading volume is issuing a sell signal but the RSI (14) indicator is moving above the oversold.
Moreover, BSV price is expected to reach a $150 resistance level. Any attempt by the buyers to cancel the BSV/USD decline and the development of the downtrend will result in an upward trend. The purpose of this movement is for the buyers to push the price to the crucial resistance levels at $186, $196 and $206. On the downside, the price could reach the critical supports at $45, $35 and $25 levels.
When compared with BTC, the Bitcoin SV market has been moving for a while in a very different way. At the moment, both the bulls and the bears are trying to decide who will control the market while trying to break the above the moving averages or lower part of the descending channel while the RSI (14) is moving below the 38-level.
However, if the bears succeed in bringing down the price, one would expect the market to fall to support level at 0.018 BTC and 0.016 BTC. Meanwhile, a rebound could push the price above the moving averages and towards the resistance levels of 0.027 BTC and 0.029 BTC respectively. If not, the market may continue to respect the trend line.
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