BSV Price Analysis – February 14
BSV/USD is seen following the upward trend as the price mounted up by 0.85%.
Resistance levels: $320, $340, $360
Support levels: $210, $190, $170
BSV/USD is currently changing hands around $267.30 at the time of writing. Today’s trading begins with a huge uptrend in the market as the coin moves to touch the daily high of $299.39. However, traders are anticipating that the current price movement is an indication of the upcoming price rally in the market. The reason behind this is also that the Bitcoin (BTC) price is moving in an upward direction now.
Where is BSV Price Going Next?
According to the daily chart, the next step for BSV may be to cross above the upper boundary of the channel. Once this is done, bulls may now face resistance at $320, $340, and $360 respectively. However, as the technical indicator RSI (14) moves above into the overbought region, BSV/USD can manage to sustain the bullish movement towards the $280 and $300 resistance levels. Meanwhile, the support levels to watch are $210, $190, and $170 respectively.
BSV/BTC Market: Consolidating within the Channel
Against Bitcoin, the BSV pair is range-bound as the coin trades above the 9-day and 21-day moving averages. At the moment, the bears are to keep the coin within the negative side as the technical indicator RSI (14) moves below the 60-level.
However, if the bears succeed in keeping the price below the moving averages, the market may likely fall to a support level at 0.0043 BTC and below. Meanwhile, a rebound could push the price above the upper boundary of the channel, and staying there may cause the coin to hit the resistance levels of 0.0068 BTC and above.