BSV Price Analysis – March 17
The Bitcoin SV touches the daily high of $200 but now hovering at $195. The coin may trade between $200 and $220 in the next positive directions.
Resistance levels: $230, $240, $250
Support levels: $160, $150, $140
BSV/USD is currently hovering at $195 after touching the daily high of $200 in the early hours of today. BSV can be expected to cross above the 9-day and 21-day moving averages and surge up to $250 in the next few weeks. Meanwhile, the current performance indicates the start of progressive trends ahead as the 9-day MA moves above the 21-day MA.
Where is BSV Price Heading Next?
Looking at the daily chart, BSV/USD remains with the range as the price moves around the moving averages. Meanwhile, the bears may be in control of the market if the price drops below the $180 level. For now, there is a higher chance that the coin may follow a positive side and it may likely find resistance at $230, $240, and $250 if the coin crosses above the upper boundary of the channel.
However, if the pair crosses below the moving averages, it may likely reach the support levels at $160, $150, and $140. On the other hand, the market may remain indecisive as the technical indicator RSI (14) is seen in a sideways movement.
BSV/BTC Market: Keeps Following the Downtrend
Against Bitcoin, the Bitcoin SV has been following a downward trend. The monthly short opening has caused the price of Bitcoin SV to be moving not far away from the 9-day and 21-day moving averages. Traders may expect a bounce back to 4000 SAT resistance. A further price push may set a bull-run for the coin along with the resistance level of 4200 SAT and above.
Meanwhile, the market is currently indecisive but if the bears’ rally continues, traders can expect a break-down to the support level of 2800 SAT and below. As it appeared now, the trading volume is still very low and the 3488 SAT level is more likely to produce a rebound for the market. Regardless of the above, the price of Bitcoin SV looks indecisive as the RSI (14) indicator moves above 40-level.