- Bitcoin prices continue to struggle between $ 36,400 and $ 46,200, with no bias in direction.
- Ethereum prices have taken steps to avoid a bearish outlook, but have not yet succeeded.
- Ripple prices remain bullish and anticipate a $ 1 retest.
Bitcoin prices have risen significantly prior to the Federal Open Market Committee (FOMC) meeting on March 16. Ethereum follows the leadership of large cryptos, but Ripple and other altcoins may be used to recover.
Bitcoin prices try to rise rapidly
Bitcoin prices have repeatedly tagged demand zones between $ 36,398 and $ 38,895, showing no sign of breaking out of this range of integration. If ongoing development in the traditional market deteriorates, BTC’s winding up of this price behavior will probably resolve lower.
If the daily candlestick falls below $ 36,398, the aforementioned demand zone will be disabled, paving the way for bears to knock down BTC to the weekly support level of $ 34,752. This is the last line of defense.
The breakdown of this scaffold shows that Bitcoin’s price could plummet to $ 30,000, gathering liquidity below the equivalent lows formed in mid-2021.
BTC / USD daily chart
Things look bearish against the price of Bitcoin, but daily candlesticks above $ 52,000 create higher highs and invalidate bearish papers.
Ethereum prices try to prevent a bearish fate
Ethereum prices have three low highs and high lows, and when connected using the trend line, you will see a symmetric triangle. This technical formation predicts a 26% crash will be $ 1,962. This is obtained by adding the distance between the heights of the first swing to the breakout point of $ 2,631.
ETH already violated the pattern on March 6th, but had a hard time falling due to its weekly support level of $ 2,541. A decisive move below this level could be the key to seeing ETH fall to a psychological level below $ 2,000.
ETH / USD daily chart
The bearish outlook seems to be the most logical result, and the resurgence of buying pressure will have a hard time pushing up ETH. Resistance levels ranging from $ 2,762 to $ 3,523 provide a formidable barrier to violations. Only daily candlesticks over $ 3,600 invalidate the bearish papers on Ethereum prices.
Ripple price continues
Ripple prices have formed a bullish flag pattern with a bullish outlook, in contrast to Ethereum. In addition, there are multiple support levels from $ 0.705 to $ 0.546, suggesting that the risk of a downside of the remittance token is low.
Bullflag predicts a 31% increase from measuring the length of the pole and adding it to the $ 0.767 breakout point. This technique reveals a $ 1 target. However, moving to this level is not easy and Ripple prices could pit stop at $ 0.855 and $ 0.917.
XRP / USD daily chart
Despite the bullish outlook for Ripple prices, it is highly correlated with Bitcoin. Therefore, a BTC crash could also lower the price of XRP. Therefore, a daily closing price below the support level of $ 0.689 invalidates the demand zone and bullish flag hypothesis, knocks XRP to the next support area and expands from $ 0.546 to $ 0.633.
Here, the buyer has another chance to make a comeback, but if it doesn’t exceed $ 0.546, the lows will be low and the bullish paper will be further invalidated.
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