web3: BSV rose 13% this week, with the price approaching the $15 resistance level

BSV performed strongly this week, with its price briefly rising to around $14.66, marking a cumulative increase of about 13% within the week. After months of pressure, the price has broken through the previous downward trend line, showing improved short-term performance. The market's focus has shifted to the resistance zone above $15.

Price breaks downward trend line

From the current movement, BSV has climbed above its short-term moving averages, with buying activity picking up compared to earlier periods. The report notes that this round of growth is first reflected in changes to chart structure, namely the price breaking through the downward trend line that had been continuously suppressing rebounds, strengthening the short-term momentum.

Currently, the 20-day exponential moving average is around $13.71, and the 50-day exponential moving average is around $13.48. These two levels are regarded as the main support areas below the current price, providing a buffer for short-term fluctuations.

$15.30 to $15.40 becomes a key range

The most immediate resistance is concentrated in the $15.30 to $15.40 area. This zone has previously served as resistance multiple times and is the first point of observation for whether the current upward movement can continue.

• Current price is around $14.66
• 20-day moving average is around $13.71
• 50-day moving average is around $13.48

If the price can hold above $15.40, the market's focus could shift upwards to the $17.50 to $18 area. Conversely, if resistance is encountered in this zone, the price may revisit the support area of $13.70 to $13.50.

Short-term momentum remains

The report also notes that BSV's daily Relative Strength Index (RSI) is about 67, indicating strong buying momentum, but it is also approaching the overbought range, suggesting that subsequent volatility may increase.

If the price completes a retest after breaking out and holds near $15.40, the short-term structure will improve further; if it falls back below the previously broken trend line, it would signal that this breakout may be difficult to sustain.