BSV Price Analysis – July 18
The Bitcoin SV has managed to show overall growth as the coin trades within the downtrend movement.
Resistance levels: $194, $204, $214
Support levels: $152, $142, $132
Looking at the daily chart, BSV/USD is trading with daily 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 stochastic RSI moves below 55-level, if BSV coin moves with a similar momentum then, it would be difficult to reach a higher level.
However, the daily chart reveals that BSV/USD is testing the 21-day MA at $173. If the market breaks away this time and move below the moving averages, the price of BSV is likely to hit $152, $142, and $132 supports. However, if the bulls push the price above the moving averages and cross the upper boundary of the channel, a bull-run may take the coin to $194, $204, and $214 resistance levels.
Comparing with BTC, the BSV 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 dominate the market while trading within the moving averages as the stochastic RSI moves below the 65-level, suggesting a bearish movement.
However, if the bears succeed in bringing down the price, traders would expect the market to fall to the support level of 0.017 BTC and below. Meanwhile, a rebound could push the price above the 9-day MA and move towards the resistance levels of 0.021 BTC and above respectively.