Supply zones: $150, $200, $250
Demand zones: $50, $40, $30

BSVUSD is in a bullish trend in its medium-term outlook. The descending channel remains the structure of the cryptocurrency in the medium-term. Rejection of price downward movement to the lower line of the channel after a drop to $75.23 in the demand area returned the bulls.

The 10-EMA is broken as the bullish momentum increased within the channel. BSVUSD was up at $78.41 in the supply area.

The bulls target in the medium-term may be 50-EMA which put the cryptocurrency price at $80.24 in the supply area as more candles open and closed above the 10-EMA.

The cryptocurrency is in the bullish trend in its short-term outlook. $75.23 in the demand area was the low of the day as the bears dropped the cryptocurrency before the bulls stage a return before the market closes.

The bullish 1-hour opening candle sustained the momentum with the bullish engulfing candle as BSVUSD rose to $78.41 in the supply area.

The bullish pressure may push price to the key supply area. This will be the fourth touch of price on this area and a breakout may occur in the short-term.

Traders may enjoy the ride to the supply area while the bull's momentum builds up for a possible breakout as confirmed by the signal of the stochastic oscillator that pints up at 65%.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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