BSV Price Analysis – September 27
The Bitcoin SV is showing overall growth at the moment as the price target has increased for bulls over the past few days.
Resistance levels: $195, $205, $215
Support levels: $145, $135, $125
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 50-level, if the BSV coin continued to move with a similar momentum then, it wouldn’t be difficult to reach a higher level very soon.
What could be the Next Direction for BSV?
The daily chart reveals that BSV/USD is currently testing the channel’s upper boundary at $170. If the market can break away this time, the price of BSV is likely to hit $195, $205, and $215 resistance levels. 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 $145, $135, and $125 supports.
BSV/BTC Market: Forming a New Trend
When compares with Bitcoin, the coin started the upward movement on September 22 and the bulls have steadily marched towards the resistance level of 0.0160 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 0.0172 BTC and above. At the same time, traders can expect more volatility in the next few days and a possible downtrend is likely to meet major support at the 0.0142 BTC and below. Presently, RSI (14) is moving above 50-level in the long-term for BSV, indicating a bullish movement.