- BSV Token price falls back to the $150 support level with a fall of 20%.
- All the daily EMAs are trending lower in a bearish alignment.
- The BSV/BTC is trading at 0.003286 BTC with an intraday gain of +0.28%.
BSV token price action indicates a rise in underlying bearishness. The token price is trading below all the crucial daily EMAs. The recently made bearish engulfing candlestick projects a bearish takeover.
Increased selling pressure is evident by the failure of price to rise above the 20-days EMA. As a result, the daily EMAs also trend lower in a bearish alignment.
The BSV Token price trades at $155.48, decreasing -2.19% in market capitalization, an indication of the bearish control of the trend.
Bitcoin SV’s intraday trading volume has fallen by 18% due to the decreasing buying pressure.
BSV Token In The 4-hour Chart
BSV token price is consolidating in a range after the recent short-term bullish rise. The breakout of this range may decide the future trend. On the other hand, the bearish breakout possibilities are higher due to the recent fall.
According to price action, support levels for the token are at $150 and $125. Additionally, bulls could encounter resistance at $175 and $225 if the price sustains above the $150 mark.
In a bearish formation, the EMAs on the 4-hour technical charts rise higher with a positive slope which may soon result in bullish crossovers.
The RSI indicator anticipates a flood in underlying bearishness biases as to the slope of RSI spikes lower.
The ADX indicator proposes a fall in trend momentum.
Conclusion – The BSV token price may soon see a bearish trend upon the breakout of the consolidation phase. However, the bearish trend will be confirmed upon the breakout of $150.
In Addition, there is always the possibility of a bullish breakout of the consolidation phase. Thus, investors must be careful and wait for the fruition of the pattern.
Support – $125 and $150
Resistance – $175 and $225