Written by Rakesh Upadhyay,Contributor
Reviewed by Allen Scott,Staff EditorPrice predictions 3/11: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR
14 minutes agoBitcoin is facing resistance just above $70,000, but the bulls have kept up the pressure, increasing the possibility of a rally to $74,508.
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Bitcoin is facing selling above $70,000, but a shallow pullback increases the likelihood of a rally to $74,508.
Select major altcoins are showing strength and may break above their overhead resistance levels.
Bitcoin (BTC) is facing resistance above the $70,000 level, but the bulls continue to exert pressure. The $417.95 million in inflows into the spot BTC exchange-traded funds this week suggests that lower levels are attracting buyers. The latest addition has boosted the total net inflows in March to $986.4 million.
However, not everyone believes the time is right to buy now. BitMEX co-founder Arthur Hayes said in a YouTube podcast that BTC could witness a massive sell-off, along with equities, if the “unfortunate war between US and Iran” carries on for longer.
He added that he would start buying BTC after the “central banks start printing money.”
Analysts remain divided about BTC’s next directional move. CryptoQuant contributor BorisD said in a QuickTake blog post that BTC’s open interest continues to rise, building leverage. That could result in “stronger price swings, sudden directional moves, and another round of forced liquidations.”
Could BTC and select major altcoins break above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC turned down from the 50-day simple moving average ($72,875) on Tuesday, indicating the bears are vigorously defending the level.
The bulls are attempting to retain the Bitcoin price above the 20-day exponential moving average ($68,815). If they can pull it off, the BTC/USDT pair may retest the $74,508 resistance. This is a crucial level for the bears to defend, as a close above it will complete a bullish ascending triangle pattern. The pair may then soar to $84,000.
This positive view will be negated in the near term if the price turns down and breaks below the support line. That suggests the bears are back in the game. The pair may slump to $62,500 and then to $60,000.
Ether price prediction
Bulls attempted to push Ether (ETH) above the $2,111 resistance on Tuesday, but the bears held their ground.
The bulls are again attempting to push the Ether price above the $2,111 resistance and the 50-day SMA ($2,208). If they manage to do that, the ETH/USDT pair may rally to $2,600 and subsequently to $3,045.
On the contrary, if the price turns down from the overhead resistance and breaks below the $1,916 level, it suggests that the pair will likely continue to consolidate between $1,750 and $2,200 for a few more days.
BNB price prediction
BNB (BNB) has been oscillating between the $570 and $670 level for several days, indicating indecision about the next directional move.
The flattish 20-day EMA ($635) and the RSI near the midpoint suggest a balance between supply and demand. Buyers will have to secure a close above the 50-day SMA ($689) to gain the upper hand. The BNB/USDT pair may then surge to $730 and later to $790, where the bears are expected to pose a substantial challenge.
Contrary to this assumption, if the BNB price turns down and breaks below $607, it suggests that the range-bound action may continue for longer. Sellers will be back in the driver’s seat on a close below $570.
XRP price prediction
XRP (XRP) pierced the 20-day EMA ($1.39) on Tuesday, but the long wick on the candlestick shows selling at higher levels.
The 20-day EMA is flattening out, and the RSI is just below the midpoint, indicating that the selling pressure is reducing. Buyers will attempt to push the XRP price above the moving averages, opening the gates for a rally to the downtrend line of the descending channel pattern.
Related: XRP price chart mirrors 1,500% rally setup from 2017, but there is a catch
Sellers are likely to have other plans. They will attempt to defend the moving averages and pull the XRP/USDT pair below the $1.27 level. If they do that, the support line will be at risk of breaking down.
Solana price prediction
Solana (SOL) has been trading inside the $76 to $95 range, indicating a balance between supply and demand.
The flat 20-day EMA ($85) and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears.
Buyers will have to push and maintain the Solana price above the $95 level to seize control. The SOL/USDT pair may then ascend to $117, where the bears are expected to make a stand.
On the downside, a close below the $76 level suggests that the bears have overpowered the bulls. The pair may then retest the Feb. 6 low of $67 and then drop to $57.
Dogecoin price prediction
Dogecoin (DOGE) rose to the 50-day SMA ($0.10) on Tuesday, but the bulls could not clear the resistance.
That suggests the bears are active at higher levels. The sellers are attempting to pull the Dogecoin price below the $0.09 support. If they manage to do that, the DOGE/USDT pair may plummet to the $0.08 level and then to the $0.06 level.
Alternatively, a strong rebound off the $0.09 support suggests that the bulls are fiercely defending the level. A close above the 50-day SMA clears the path for a rally to the breakdown level of $0.12, where the bears are expected to step in.
Cardano price prediction
Cardano (ADA) continues to trade inside the descending channel pattern, indicating that the sellers remain in control.
The Cardano price has been trading below the moving averages, but a positive sign is that the bulls have not ceded much ground to the bears. That increases the likelihood of a rally to the downtrend line, which is a crucial resistance to watch out for. A close above the downtrend line will mark a short-term trend change.
Instead, if the price turns down sharply from the moving averages or the downtrend line, it suggests that the ADA/USDT pair may remain inside the channel for some more time.
Bitcoin Cash price prediction
Buyers have successfully defended the $443 level in Bitcoin Cash (BCH) but have failed to start a strong rebound.
The downsloping 20-day EMA ($472) and the RSI in the negative territory indicate that bears remain in command. If the Bitcoin Cash price turns down sharply from the 20-day EMA, the possibility of a break below the $443 level increases. The BCH/USDT pair will then complete a bearish head-and-shoulders pattern, opening the doors for a fall to $375.
Conversely, if the price closes above the 20-day EMA, it suggests that the bulls are attempting a comeback. The pair may then climb to the 50-day SMA ($520), which is expected to act as stiff resistance.
Hyperliquid price prediction
Hyperliquid (HYPE) bounced off the 50-day SMA ($30.01) on Sunday, indicating that the bulls are buying the dips.
The 20-day EMA ($31.50) has started to turn up, and the RSI is in the positive territory, indicating that the path of least resistance is to the upside. Buyers will attempt to drive the Hyperliquid price above the $36.77 to $38.42 resistance zone. If they succeed, the HYPE/USDT pair may surge to $43 and then to $50.
Sellers will have to pull the price below the moving averages to weaken the bullish momentum. The pair may then tumble to $25.50.
Monero price prediction
Buyers are attempting to push Monero (XMR) above the 50-day SMA ($372) but are facing stiff resistance from the bears.
The flat 20-day EMA ($346) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If buyers propel the Monero price above the 50-day SMA, the XMR/USDT pair may pick up momentum and surge to the 61.8% Fibonacci retracement level of $414 and later to $452.
On the other hand, if the price turns down sharply from the current level and breaks below $333, it signals that the bears remain sellers on rallies. The pair may then slump to the $309 level.
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