Cryptocurrency Price Analysis: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON, LINK, AVAX on March 28
On March 28, Bitcoin struggles below $90,000 as market concerns grow over US tariffs and inflation, while predictions for 2025 vary widely. Analysts remain optimistic, with Jamie Coutts anticipating potential all-time highs. Other cryptocurrencies like Ether, XRP, BNB, and ADA also reflect bearish trends and critical support levels that warrant attention.
As of March 28, Bitcoin (BTC) is distancing itself from the pivotal $90,000 mark, indicating reduced buying interest at elevated prices. Market apprehension arises due to new US trade tariffs and unexpectedly high inflation figures reported in the Personal Consumption Expenditures (PCE) data. Predictions by market participants reveal a wide spectrum for Bitcoin’s price in 2025, ranging from a bearish target of $59,040 to an optimistic target of $138,617.
Despite current uncertainties, Jamie Coutts, the chief crypto analyst at Real Vision, expresses a bullish outlook for Bitcoin. In his remarks to Cointelegraph, Coutts noted that Bitcoin might surpass its all-time high, potentially exceeding $109,000 by the close of the second quarter. He also emphasized that concerns regarding US tariffs and the potential recession should not hinder Bitcoin’s anticipated rally.
A detailed analysis of Bitcoin’s price movement indicates a recent decline below the 20-day exponential moving average (EMA) of $85,765. The bears aim to push prices beneath the immediate support of $83,000, with potential further declines to $81,000 and $80,000. Buyers are likely to defend the crucial zone between $76,606 and $80,000 diligently. Conversely, a sustained price movement above the resistance line may suggest the end of the current correction.
Ether (ETH) has also faced downward pressure after breaking below the 20-day EMA of $2,032, driven by bearish sentiment. Sellers are targeting the support range of $1,800 to $1,754, with significant buying at this level to prevent an extension to $1,550. A successful rise above the breakdown level of $2,111 would weaken the bearish momentum, while the 50-day simple moving average (SMA) at $2,293 poses a challenge for upward movement.
XRP (XRP) has encountered resistance as it fell below critical moving averages, indicating persistent selling pressure from bears. A breach of the vital support level at $2 could trigger a significant decline to $1.27. Nevertheless, a rebound at the $2 support may temporarily maintain price stability within the triangle formation.
BNB (BNB) continues to oscillate between moving averages and the resistance level of $644. Indicators suggest a slight edge for buyers, with potential upward movement toward $686 if the price rebounds strongly. Conversely, a break below the moving averages may lead to a decline to $591.
Solana (SOL) fell below its 20-day EMA, reflecting weak bullish interest. Sellers are attempting to target the support zone between $120 and $110, which is crucial for buyers to defend against further downturns, potentially towards $80. The 50-day SMA at $153 remains a key resistance point.
In the case of Dogecoin (DOGE), the asset turned down from the 50-day SMA of $0.21, reflecting a continuing negative sentiment. The price could fluctuate between $0.14 and the 50-day SMA unless a significant upward break occurs above this SMA.
Cardano (ADA) has struggled to maintain levels above its 50-day SMA of $0.75, leading to heightened profit-taking among short-term players. A rebound from the uptrend line might allow the bulls another chance to push prices higher; failure to hold this level could see it drop to the $0.58 to $0.50 range.
Toncoin (TON) recently turned upwards, approaching the overhead resistance at $4.14, aided by bullish indicators. If the price continues to rise, a breakthrough above this level could lead to further gains toward $5. Regional support exists at $3.32; a breach here could result in a decline to $2.81.
Chainlink (LINK) faced downward pressure, dropping below the 20-day EMA. Bears may enforce their control unless buyers manage to reverse this trend and push prices above the 50-day SMA. Successful resistance break could escalate the price toward $17.70.
Avalanche (AVAX) also struggled to hold above its 50-day SMA, suggesting strong selling pressure at higher levels. The 20-day EMA of $20.51 serves as a vital support level; a decline below this may lead to a drop towards $18. Rebounding strongly above this threshold could open pathways to the $25.12 to $27.23 resistance zone.
This analysis presents insights into the current price movements of key cryptocurrencies but does not constitute investment advice. Readers are advised to perform their own due diligence before making any financial decisions.
In summary, the cryptocurrency market is showcasing a mix of bearish and bullish sentiments among major assets, with Bitcoin distancing from $90,000 amid trade concerns, while Ether, XRP, and other altcoins are experiencing critical support challenges. The analysts’ predictions vary widely, underscoring market uncertainties for 2025. Continued monitoring of support and resistance levels across these cryptocurrencies could guide traders’ strategies amidst fluctuating market conditions.
Original Source: cointelegraph.com
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