• From the Fibonacci tool, the downward correction was at the support of the 0.382 Fib. retracement level.
• If the bulls succeed in defending this level, there is a likelihood of a bullish trend resumption.

BSV /USD Medium-term Trend: Bullish

• Resistance Levels: $225, $250, $275
• Support Levels: $175, $150, $1125

Yesterday, June 10, the price of BSV was in a bearish trend. On June 4, the price of Bitcoin SV reached a high of $225 but the bulls were resisted. The BSV market now commenced a downward correction to the support of the 12-day EMA. The crypto’s price is trading above the EMAs. On the downside, if the bears break below the EMAs, the market will fall and reach a low at $150 price level. On the upside, if the price is sustained above the EMAs, the crypto’s price will rise to retest the $225 overhead resistance level.

From the Fibonacci tool, the downward correction was at the support of 0.382 Fib. retracement level. The 0.236 and 0.382 Fib. retracement levels are continuation zone for a trending market. If the bulls succeed in defending this level, there is a likelihood of a bullish trend resumption. The BSV coin is at the overbought region of the daily stochastic but below the 80% range. This indicates that price is in a bearish momentum and a sell signal.

BSV/USD Short-term Trend: Bearish

On the 1-hour chart, the price of BSV is in a bearish trend zone. The 12-day EMA and the 26-day EMA are sloping horizontally. The crypto’s price is trading at $183 price level, and if the bearish pressure continues, the market may reach the low at $175 price level.

This is almost equivalent to the 0.382 Fib. retracement level if the price is holding. 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.

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