Bitcoin SV Price Analysis – July 12
The Bitcoin SV price has been in a range as the price of the cryptocurrency fluctuates at the upper boundary of the channel.
Resistance levels: $175, $185, $195
Support levels: $110, $100, $90
After touching the resistance level of $145 today, BSV/USD is seen trading at $137. The coin is also moving below the upper boundary of the channel and within the 9-day and 21-day moving averages, indicating an indecisive movement in the market. For the time being, the market price is moving in the same direction and the trading volume is issuing a sell signal but the Relative Strength Index (14) is moving below the 45-level.
Bitcoin SV Price Analysis: Where is BSV Price Going Next?
BSV price is expected to revisit a $145 resistance level. Any attempt by the buyers to cancel the sideways movement could result in an upward trend. The purpose of this movement is for the buyers to push the price to the crucial resistance levels at $175, $185, and $195. On the downside, the price could reach the critical supports at $110, $100, and $90 levels if the coin drops below the 9-day and 21-day moving averages.
BSV/BTC Market: Consolidating to the Downside
When compares with Bitcoin, the Bitcoin SV is trading above the 9-day and 21-day moving averages but with some bullish candles trying to break above the upper boundary of the channel. The technical indicator Relative Strength Index (14) is trying to cross above $50-level which could bring more bullish signals into the market. A further rise may likely hit the resistance level at 0.0034 BTC and above.
However, any form of a rebound from the current level at 0.0038 BTC could push the price of the coin to the resistance level of 4500 SAT and above. But the sellers could drag the price below the 9-day and 21-day moving averages which may hit the support at 3700 SAT and below. For now, the trading volume is still low and may start rising once the technical indicator crosses above 50-level.