Cryptocurrency Price Insights: Ethereum, Bitcoin & Market Trends on March 18
On March 18, Ethereum and Bitcoin exhibited bearish trends, with ETH down 1.5% and BTC down 3%. Whales have been active in trading, influencing market dynamics. The overall crypto market shows stagnation with a total value below the 200-day moving average, indicating a seller’s dominance. Standard Chartered revised Ethereum’s value forecast for 2025, reflecting changing market perceptions.
On March 18, Ethereum (ETH) experienced a 1.5% decline, trading just above $1,900. This downturn is attributed to heightened bearish trends among whale supply distribution and ETF flows, indicating potential selling pressure. Meanwhile, Bitcoin’s (BTC) price fell by 3% as an investigator revealed that a whale utilized 40x leverage to short the asset, accumulating significant profits despite liquidation efforts.
In other developments, MicroStrategy announced intentions to add $500 million in BTC while XRP and ADA showed vulnerability, particularly following the filing for a SUI ETF. BTC’s current trading range is consolidating between $82,281 and a peak of $84,705, reflecting fluctuating market conditions.
The cryptocurrency market has remained stagnant, increasing just over 2.5% in the past week, with a total market capitalization of $2.72 trillion, a figure below the 200-day moving average which favors sellers. Additionally, Standard Chartered revised its prediction concerning Ethereum’s value for 2025, reducing its target from $10,000 to $4,000 due to changing market dynamics.
Solana (SOL) is facing resistance at the 50-day mark, with recent futures debut on the CME Group generating $5 million in volume. Despite positive market catalysts, SOL is encountering bearish pressure due to recent token unlocks by Alameda Research, affecting market sentiment.
Bitcoin remains under threat of a reversal towards $75,000 amidst ongoing trade tensions linked to former President Trump and the impact on inflation in the U.S. The price has been constrained between $76,000 and $84,472, with various market factors contributing to its price fluctuations. This analysis highlights essential indicators for investors to monitor in the forthcoming weeks.
In summary, the cryptocurrency market is currently experiencing significant volatility, with Ethereum and Bitcoin facing downward pressures due to whale activities and market sentiment. Analysts have adjusted their projections for Ethereum, indicating a cautious outlook. Investment strategies must consider potential risks, particularly against the backdrop of global economic uncertainties and regulatory developments.
Original Source: www.fxstreet.com
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