BSV Price Analysis – April 9
The Bitcoin SV is showing overall growth as the price targets the key resistance at the $280 level.
BSV/USD Market
Key Levels:
Resistance levels: $290, $300, $310
Support levels: $225, $215, $205
BSV/USD is currently trading with upward momentum as the price hovers above the 9-day and 21-day moving averages. They look at the daily chart expect a bigger hit in the market soon as the price remains at the upside. However, it seems that the coin is about to fulfill its desire as the technical indicator RSI (14) moves above 60-level. Therefore, if BSV continues to move with a similar momentum, it wouldn’t be difficult to reach a higher level in the next positive moves.
What to Expect from Bitcoin SV
The daily chart reveals that BSV/USD is testing the upper boundary of the channel at $261. If the market can break away this time, the price of BSV may likely hit the resistance level of $290, $300, and $310. However, if the upper boundary continues to act as a defensive line for the bears, a massive sell-off may likely flood the market to the support levels of $225, $215, and $205 respectively.
BSV/BTC Market: Consolidates Toward the Upside
Against Bitcoin, the coin begins the upward movement on March 13 and the bulls have steadily marched towards the resistance level of 4500 SAT. 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 BSV price is likely to go up as high as 5000 SAT and above if the bulls keep the price above the upper boundary of the channel. At the same time, traders may expect more volatility in the next few days and a possible downtrend may likely meet major support at the 3800 SAT and below. Presently, the technical indicator RSI (14) is moving above 60-level in the long-term for BSV, indicating a bullish movement.
