BSV/USD Long-term Trend – Ranging
- Distribution territories: $100, $120, $140
- Accumulation territories: $65, $55, $45
BSV/USD market valuation has been featuring differential market zones within which it has been ranging barely over a week. On 1ST of this year, 2019, the crypto witnessed a notable spike that saw the market push northwards to test around $95 mark and retest it on January 3.
The present price range movements have been featuring around $95 and $85 price territories. The 14-day SMA has just freshly intercepted the 50-day SMA from top to place underneath it The Stochastic Oscillators have dipped into the oversold zone to consolidate within it. That suggests that bears are still in control of the market to an extent.
The crypto’s bearish moves look like getting exhausted mostly while the market touches around the lower range mark, and this has been leading to the creation of a buying zone for bulls. A further strong southward push against the $85 lower range may result in having other price ranging movements between it and $75 price territory that could be for a while.
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