• On the upside, if the bulls break  above the EMAs, the crypto's price will arise and retest the $240 overhead resistance.
• The BSV market is in a bullush momentum and a buy signal

BSV /USD Medium-term Trend: Bearish

• Resistance Levels: $250, $275, $300
• Support Levels: $225, $200, $175

Yesterday, July 17, the price of BSV was in a bullish trend as the crypto made an upward move toward the EOS. The Bitcoin SV had been on downward correction from the $240 overhead resistance level. On June 26, the bulls were resisted at the $240 price level and the price fell below the EMAs.

The coin was trading below the EMAs but above the $180 price level. On July 10, the crypto’s price was resisted at the $200 price level. Then the crypto’s price fell the previous lower level of price. A trend line has been drawn to determine the duration of the bearish trend. A bearish trend is ongoing if the trend line is unbroken.

A bearish trend is said to be terminated if price breaks the trend line and another candlestick closes on the opposite of it. The BSV coin is at the oversold region of the daily stochastic but below the 40% range. This indicates that price is in the bearish momentum and sell signal.

BSV/USD Short-term Trend: Ranging

On the 1-hour chart, the price of BSV is in a sideways trend zone. The 12-day EMA and the 26-day EMA are sloping horizontally. The crypto’s price is characterized by small body candlesticks which describe the indecision between the buyers and sellers at the current market price. The daily stochastic is in the oversold region but below the 20% range. This indicates that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.