BSV Price Analysis – July 27
Bitcoin SV is seen following the upward trend and today, it mounted up by 9.59% to go beyond $225 from $190.
Resistance levels: $240, $250, $260
Support levels: $172, $162, $152
BSV/USD is currently changing hands around $209.07 at the time of writing. The daily trade begins with a huge uptrend in the market, and the same seems to be intact today. We are anticipating that the current price movement is an indication of the upcoming price rally in the market. The reason behind the same is also that Bitcoin (BTC) price is moving in an upward direction now.
Nevertheless, the next step for BSV may be to crack the $250 level. Besides the psychological level, the bulls are now facing resistance at $240, $250, and $260. As the RSI (14) moves to enter into the overbought region, if the bulls can manage to climb above all these levels, the path towards $270 and $280 is basically guaranteed as there are no significant resistance levels on the way. Meanwhile, the support levels to watch are $172, $162, and $152 respectively.
Against Bitcoin, the pair has appeared to be bearish for BSV as the market experiences a drop from 0.020 BTC area, approaching 0.018 BTC support. In fact, the RSI (14) has simultaneously fallen near the 47-level, a strong bearish confirmation.
More so, if the price is rejected at the 0.0183 BTC, the bulls might push the market back to the 0.021BTC at the upper channel. If a breakout occurs, we can expect an immediate resistance at 0.022 BTC and 0.024 BTC from above. Below the channel, the key supports lie at 0.016 BTC and 0.0.14 BTC.