On the other hand, if the price turns down from the downtrend line, the bears will try to sink the BSV/USD pair to $146.20.

Currently, the flattish moving averages and the RSI close to the midpoint suggest a balance between supply and demand.

The next trending move could start after the bulls push the price above $180.63 or the bears break the support at $146.20. Until then, volatile range-bound action is likely to continue.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.