Price analysis 3/14: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE

2 years ago

Bitcoin (BTC) has mostly been directionless since the commencement of the twelvemonth arsenic the bulls person been buying connected dips portion bears are selling the rallies. This suggests that the terms is consolidating successful a ample scope with some the bulls and the bears waiting for the adjacent trigger to found their supremacy.

The short-term volatility whitethorn prime up aft the United States Federal Reserve announces its argumentation determination connected March 16 but unless the Fed springs a surprise, the likelihood of a caller trending determination could beryllium low. Bitcoin could walk immoderate much clip successful a bottoming enactment earlier breaking retired of it.

A affirmative motion successful the range-bound enactment this twelvemonth has been evidence of accumulation by some the tiny investors and prime whales. This has coincided with a sustained driblet successful Bitcoin balances connected exchanges. The combined Bitcoin balances connected the 21 exchanges it covers person dropped to 2.32 cardinal Bitcoin, the lowest since August 2018, according to CryptoQuant.

Could Bitcoin interruption supra the contiguous absorption level and propulsion the altcoins higher? Let’s analyse the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin has bounced from the contiguous enactment astatine $37,000 indicating that bulls are attempting to support this level. The buyers volition present effort to propulsion the terms supra the moving averages. If they succeed, it volition suggest beardown request astatine little levels.

The bulls volition past effort to widen the up-move by clearing the overhead hurdle astatine $42,594. If they negociate to bash that, it volition beryllium the archetypal denotation that the bears whitethorn beryllium losing their grip. The BTC/USDT brace could past emergence to the overhead portion betwixt $45,400 and the absorption enactment of the ascending channel.

Conversely, if the terms turns down from the moving averages, it volition suggest that bears are unwilling to fto spell of their advantage. The sellers volition past effort to solidify their presumption by pulling the terms beneath the enactment enactment of the channel. Such a determination could awesome the resumption of the downtrend.

ETH/USDT

The bulls are attempting to support the enactment enactment of the symmetrical triangle. A beardown bounce disconnected the existent level could propulsion Ether (ETH) to the moving averages wherever the bears are again apt to equine a beardown defense.

If the terms turns down from the moving averages, it volition suggest that the sentiment remains antagonistic and traders are selling connected alleviation rallies. That volition summation the anticipation of a interruption beneath the triangle. The ETH/USDT brace could past resume its downtrend and diminution to $2,159.

Contrary to this assumption, if bulls propel the terms supra the moving averages, it volition suggest that the selling unit whitethorn beryllium reducing. The brace could past emergence to the intelligence level astatine $3,000 and aboriginal situation the absorption enactment of the triangle.

BNB/USDT

Binance Coin (BNB) is attempting to rebound disconnected the enactment portion betwixt $360 to $350. This suggests that buyers proceed to accumulate connected dips adjacent the enactment zone.

The buyers volition person to propulsion and prolong the terms supra the moving averages to bespeak that the bears whitethorn beryllium losing their grip. If the terms sustains supra the 50-day elemental moving mean ($389), the bulls volition effort to propulsion the BNB/USDT brace to $425.

This affirmative presumption volition invalidate if the terms erstwhile again turns down from the moving averages and breaks beneath $350. Such a determination volition suggest that the sentiment remains antagonistic and traders proceed to merchantability connected rallies. That could propulsion the terms to the captious enactment astatine $320.

XRP/USDT

XRP price soared supra the downtrend enactment connected March 11 but the rally met with stiff absorption astatine $0.85. This suggests that the bears person not yet fixed up and they proceed to merchantability connected rallies.

The terms has pulled backmost to the 20-day exponential moving mean ($0.75) which is apt to enactment arsenic a beardown support. If the terms rebounds disconnected the existent level, the buyers volition marque 1 much effort to propulsion and prolong the XRP/USDT brace supra $0.85. If they succeed, the brace could rally to $0.91 and past emergence to the intelligence absorption astatine $1.

This affirmative presumption volition invalidate if the terms breaks beneath the moving averages. Such a determination volition suggest that the interruption supra the downtrend enactment whitethorn person been a bull trap. A interruption and adjacent beneath $0.69 could unfastened the doors for a imaginable driblet to $0.62.

LUNA/USDT

Terra’s LUNA token slipped beneath $94 connected March 11 but the bears could not propulsion the terms to the 20-day EMA ($82). This is simply a affirmative motion arsenic it shows that traders are buying connected each insignificant dip.

Although the rising 20-day EMA indicates vantage to buyers, the antagonistic divergence connected the comparative spot scale (RSI) suggests that the bullish momentum whitethorn beryllium weakening.

The bulls are attempting to propulsion the terms backmost supra $94. If that happens, the buyers volition marque 1 much effort to wide the overhead hurdle astatine $105 and resume the uptrend. If they bash that, the LUNA/USDT brace could rally to $115.

Conversely, if the terms turns down from the overhead zone, the bears volition effort to descend the brace beneath the 20-day EMA.

SOL/USDT

Solana (SOL) broke and closed beneath the beardown enactment astatine $81 connected March 11 and followed it up with further selling connected March 13. However, the bears person not been capable to interruption the intraday debased astatine $75 made connected Feb. 24.

The affirmative divergence connected the RSI indicates that the selling unit whitethorn beryllium reducing. The bulls are attempting to propulsion the terms backmost supra the breakdown level astatine $81 today. If they prolong the terms supra $81, it volition suggest that the caller breakdown whitethorn person been a carnivore trap. The buyers volition past strive to propulsion the SOL/USDT brace supra the 20-day EMA ($87).

This affirmative presumption volition invalidate if the terms turns down from the existent level and breaks beneath $75. That volition suggest the bears person flipped the $81 level into resistance. The brace could past driblet to $66.

ADA/USDT

Cardano (ADA) is attempting a rebound disconnected the beardown enactment astatine $0.74 but the effort lacks conviction. A insignificant affirmative is that the RSI is showing the archetypal signs of affirmative divergence, indicating that the selling unit whitethorn beryllium reducing.

The bulls volition person to propulsion and prolong the ADA/USDT brace supra the 20-day EMA ($0.85) to awesome that the bears whitethorn beryllium losing their grip. That could unfastened the doors for a imaginable retest of the breakdown level astatine $1. This level is apt to pull beardown selling.

Contrary to this assumption, if the terms turns down from the existent level oregon the 20-day EMA, it volition bespeak that bears are pouncing connected each insignificant rally. That volition summation the anticipation of a interruption beneath $0.74. If that happens, the downtrend could widen to $0.68.

AVAX/USDT

Avalanche (AVAX) broke beneath the uptrend enactment connected March 13 indicating that the bears person overpowered the bulls. The attempts by the buyers to propulsion the terms supra the breakdown level contiguous met with beardown selling by the bears.

If bears descend and prolong the terms beneath $64, the AVAX/USDT brace could descent to the beardown enactment astatine $51. The downsloping 20-day EMA ($74) and the RSI successful the antagonistic territory bespeak vantage to sellers.

This bearish presumption volition invalidate successful the abbreviated word if the terms turns up from the existent level and breaks supra the moving averages. The bulls volition past effort to flooded the obstruction astatine the downtrend enactment of the descending channel.

This is an important level to support an oculus connected due to the fact that the bulls person faltered astatine the downtrend enactment connected 4 erstwhile occasions. If bulls propulsion and prolong the terms supra the channel, the brace could rally to $100.

DOT/USDT

Polkadot (DOT) erstwhile again turned down from the 50-day SMA ($18) connected March 13 but the bulls are not allowing the terms to prolong beneath the 20-day EMA ($17).

The terms has been stuck successful a choky scope betwixt $16 and $19 for the past fewer days indicating indecision among the bulls and the bears. Such tight-range trading is usually followed by a crisp trending move.

If buyers propulsion and prolong the terms supra $19, the DOT/USDT brace could rally to the adjacent overhead absorption astatine $23. A interruption and adjacent supra this level volition awesome that the downtrend whitethorn beryllium over.

Alternatively, if the terms turns down and breaks beneath $16, the brace could retest the captious enactment astatine $14.

DOGE/USDT

Dogecoin (DOGE) made a beardown effort to commencement a alleviation rally contiguous but the efforts of the bulls met with stiff absorption astatine the 20-day EMA ($0.12).

If the bulls neglect to wide the overhead hurdle, the bears volition fancy their chances and effort to descend the brace beneath the intelligence enactment astatine $0.10. If that happens, the selling could further prime up momentum and the DOGE/USDT brace whitethorn descent to $0.06.

Contrary to this assumption, if the terms rises from the existent level oregon rebounds disconnected $0.10, it volition suggest accumulation by the bulls. The buyers volition person to propulsion and prolong the terms supra the 50-day SMA ($0.13) to awesome a imaginable alteration successful trend.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph. Every concern and trading determination involves risk. You should behaviour your ain probe erstwhile making a decision.

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