Global Cryptocurrency Market Update: A Review of Key Prices for Top Tokens
Quick Facts
The cryptocurrency market has been experiencing a tumultuous week, with many assets experiencing significant price fluctuations. In this article, we will dive into the latest price analysis of the top 10 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), Pi Network (PI), UNUS SED LEO (LEO), and Hedera (HBAR).
Price Analysis
Bitcoin Price Analysis
Bitcoin broke below the $78,258 level on March 10 and fell to $76,606 on March 11, but the bears could not sustain the lower levels. This suggests solid buying by the bulls, and a relief rally is underway. The price is facing resistance at the 20-day exponential moving average (EMA) ($87,262) and the 50-day SMA ($94,654). If the price turns down sharply from these levels, it will signal that the relief rally has exhausted, and the bears may take control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the correction may be over, and the bulls have taken control.
Ethereum Price Analysis
Ethereum fell below the $1,993 support on March 9 and extended the decline, reaching $1,754 on March 11. The bulls are trying to defend the level, but the bears are likely to sell at higher levels. The 20-day EMA ($2,235) is a crucial level to watch out for. If the price turns down sharply from this level, it will signal that the bears are in control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the bulls have taken control, and a break above $2,111 could trigger a rally to $2,800.
XRP Price Analysis
XRP fell below the $2 support on March 11, but the bulls are trying to stop the decline. The 20-day EMA ($2.35) is providing support, and if the price rises above this level, it will suggest that the bears are losing their grip. On the other hand, if the price turns down sharply from the 20-day EMA, it will signal that the bears are in control, and the pair could drop to $1.77.
BNB Price Analysis
BNB turned up from $507 on March 11, indicating that the bulls are aggressively defending the $500 to $460 support zone. The relief rally is expected to face selling at the 20-day EMA ($592) and the 50-day SMA ($628). If the price turns down sharply from these levels, it will signal that the bears are in control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the bulls have taken control, and a break above the 50-day SMA could trigger a rally to $745.
Solana Price Analysis
Solana turned up from $112 on March 11, signaling that the bulls are trying to stop the decline. The 20-day EMA ($145) is a crucial level to watch out for. If the price turns down sharply from this level, it will signal that the bears are in control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the bulls have taken control, and a break above $155 could trigger a rally to $185.
Cardano Price Analysis
Cardano rebounded off the uptrend line on March 11, indicating that the bulls are trying to stop the decline. The 20-day EMA ($1.30) is a crucial level to watch out for. If the price turns down sharply from this level, it will signal that the bears are in control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the bulls have taken control, and a break above $1.50 could trigger a rally to $2.02.
Dogecoin Price Analysis
Dogecoin continued its slide and reached the $0.14 support on March 11. The bulls are trying to defend the level, but the bears are likely to sell at higher levels. The 20-day EMA ($0.20) is a crucial level to watch out for. If the price turns down sharply from this level, it will signal that the bears are in control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the bulls have taken control, and a break above $0.25 could trigger a rally to $0.30.
Pi Price Analysis
Pi is taking support at the $1.20 level, indicating that the bulls are aggressively defending the level. The relief rally is expected to face resistance at the 20-day EMA ($1.50) and the 50-day SMA ($1.80). If the price turns down sharply from these levels, it will signal that the bears are in control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the bulls have taken control, and a break above the 50-day SMA could trigger a rally to $2.00.
UNUS SED LEO Price Analysis
UNUS SED LEO is consolidating just below the $10 level for several days, indicating that the bulls are holding on to their positions as they anticipate another leg higher. The LEO/USD pair has formed an ascending triangle pattern, which will complete on a break and close above $10. If that happens, the pair could resume the uptrend toward the target objective of $12.04. This positive view will be invalidated in the near term if the price turns down and breaks below the uptrend line, which could trigger a drop to $8.84.
Hedera Price Analysis
Hedera bounced off the $0.17 support on March 11, indicating that the bulls are aggressively defending the level. The relief rally is expected to face selling at the 20-day EMA ($0.22) and the downtrend line. If the price turns down sharply from these levels, it will signal that the bears are in control. On the other hand, if the price rises above the 20-day EMA, it will suggest that the bulls have taken control, and a break above the downtrend line could trigger a rally to $0.30.
Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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