BSV/USDT daily chart

BSV/USDT daily chart

Gate Trade Bitcoin SV (BSV) Saturday, May 9, 2020 416 0

Currently, the 6th-ranked cryptocurrency on CoinMarketCap is range-bound between $227-$187.16. Both moving averages are gradually sloping up and the RSI is in the positive territory, which suggests that the bulls have a slight edge.

 

A break above $227 will signal strength. This can present a buying opportunity for the traders. Above this level, a rally to $268.842 and then to $319.424 is likely. 

 

On the other hand, if the bears sink the BSV/USD pair below $187.16, a drop to $170 is possible. This is a strong support, hence if the pair bounces off this level, it can also offer a buying opportunity.