BSV Price Analysis – March 20
The Bitcoin SV has managed to show overall growth as the price target has increased for bulls over the past few days.
Resistance levels: $230, $240, $250
Support levels: $92, $82, $72
Looking at the daily chart, BSV/USD is trading with upward momentum at the moment and traders are happy with it. They look at the chart and expect a bigger hit in the market soon. It seems that the coin is about to fulfill its desire. More so, as the RSI (14) moves above 42-level, if BSV coin continued to move with a similar momentum then, it wouldn’t be difficult to reach a higher level.
However, the daily chart reveals that BSV/USD is testing the channel’s upper boundary at $163. If the market can break away this time, the price of BSV is likely to hit $230, $240, and $250 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 flood the market to $92, $82 and $72 supports.
Against Bitcoin, the coin started the upward movement on March 13 and the bulls have steadily marched towards the resistance level of 0.027 BTC. In addition, the trend may continue to rise if buyers can continue to maintain the pressure as there is even more room to hold a long position for BSV traders.
Therefore, the price of Bitcoin SV is likely to go up as high as 0.030 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 0.021 BTC and below. Presently, RSI (14) is moving above 50-level in the long-term for BSV, indicating a bullish movement.
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