BSV Price Analysis – September 12
BSV/USD has been trading between the bull and the bear, while the price of the cryptocurrency fluctuates sideways.
Resistance levels: $195, $205, $215
Support levels: $140, $130, $120
BSV/USD is seen hovering at $169.19 as the coin moves above the 9-day moving average, indicating an indecisive movement in the market. For the time being, the market price is moving towards the 21-day moving average within the channel and the trading volume is issuing a buy signal while the technical indicator RSI (14) indicator is moving above the 40-level.
What to Expect from Bitcoin SV (BSV)
The BSV/USD is expected to trade above the 21-day moving average. Any attempt by the bulls to push the market towards the upper boundary of the channel may result in an upward trend. However, the purpose of this movement is for the buyers to reach the crucial resistance levels at $195, $205, and $215. On the downside, the price could also reach the critical supports at $140, $130, and $120 levels.
BSV/BTC Market: Price Remains at the Downside
Against BTC, the Bitcoin SV market has been dancing to the tune of the bears as the price remains at the downside since the last month. At the moment, the market is seen following a sideways movement as both the bulls and the bears are trying to decide who will be in-charge while trying to break the above the moving averages within the descending channel.
However, if the bears succeed in bringing the price down below moving averages, traders may expect the market to fall towards the support level of 0.0145 BTC and 0.0140 BTC. Meanwhile, a continuous bullish movement could push the price above the channel and move towards the resistance levels of 0.0175 BTC and 0.0180 BTC respectively. If not, the market may continue to respect the sideways movement as the technical indicator RSI (14) confirms.