BSV Price Analysis – March 9
BSV/USD has lost 2.52% over the last 24 hours and its struggle in the market has entered its 3rd day.
BSV/USD Market
Key Levels:
Resistance levels: $290, $300, $310
Support levels: $128, $118, $108
The BSV price has been pretty impressive in recent days. It showed a lot of price improvement and even in terms of market capitalization. Actually, the future of the coin seems brighter than ever. A couple of days ago, the coin deals with the downward movement and there are many coins on the market that open with losses. BSV/USD was also one of them. However, it recorded a recovery early this morning, but once again fell.
However, the daily price still trends below the 9-day and 21-day moving averages and the bulls will have to move above the mentioned moving average to reach the resistance levels at $290, $300 and $310. Meanwhile, the support levels to watch are $128, $118 and $108 respectively. The long-term outlook still remains bearish for the BSV/USD pair as the MACD is at the negative side which provides more selling opportunities for the market.
BSV/BTC Market
Against BTC, the BSV market has moved for a while in a very different way. At the moment, both the bulls and the bears are trying to decide who will control the market while trying to break the upper or lower part of the descending channel and falling below the moving averages while the stochastic RSI is moving below the 40-level.
However, if the bears succeed in breaking down the price, one would expect the market to fall to support level at 0.020 BTC and 0.018 BTC. Meanwhile, a rebound could push the price to the resistance levels of 0.030 BTC and 0.032 BTC respectively. If the scenario is not done, the market will continue to respect the trend line.
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