BSV Price Analysis – June 23
The Bitcoin SV has managed to show overall growth as the coin set to trade above the moving averages.
Resistance levels: $195, $205, $215
Support levels: $160, $150, $140
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 45-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 21-day MA at $178. If the market can break away this time and move above the moving averages, the price of BSV is likely to hit $195, $205, and $215 resistances. However, if the 21-day MA continues to bolster as an active defensive line for the bears, a massive sell-off may flood the market to $160, $150, and $140 supports.
Against Bitcoin, the coin started the upward movement today and the bulls are marching towards the resistance level of 0.0187 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 0.0200 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 0.0168 BTC and below. Presently, the RSI (14) is facing a resistance at the 40-level in the long-term for BSV, indicating a bullish movement.