Weekly Technical Analysis of cryptocurrencies March 30
Read the technical analysis of Bitcoin, Ethereum, BinanceCoin, Cardano, Polkadot, Ripple, Uniswap, Theta, LightCoin and Chainlink prices for today:
BITCOIN
The price of Bitcoin has moved above the uptrend channel and broken this resistance (breakout). If the bulls of the market stabilize the price above this dynamic resistance, the prospect of it rising again to the historical level of $ 61,825.84 will be strengthened.
The slope of the 20-day moving average (EMA 20 – blue line in the picture) has moved upwards and the relative strength index (RSI) has moved above its mid-level. These factors show the superiority of buyers. Breakout and close-up of the price above the historic high of $ 61,825.84 will pave the way for the $ 69,279 target and above $ 79,566.
However, sellers are unlikely to give up easily and will be trading at a key resistance of $ 61,825.84. If the price moves down from this resistance and stays above the 20-day moving average at $ 55,090, it can be said that the market sentiment remains positive, considering the entry of buyers in each fall.
Any price break below the 50-day moving average (SMA 50 – red line in the picture) at $ 52,376 will be the first sign of a bearish return.
- Resistances: 61,825.84 – 69,279 – 79,566
- Supports: 55,090 – 52,376
Ethereum
The price of Ethereum continues to fluctuate within its symmetrical triangle pattern. This pattern often serves as a continuation pattern of the price trend. Buyers pushed the price above these moving averages yesterday. This indicates a strong buying trend at lower price levels.
Market cows in the current situation will try to push the price above the downtrend line. Under such conditions, the price is likely to rise to the target of $ 2,040.77 and above it to $ 2,618.14.
On the other hand, if the price rotates after hitting the top side of the pattern, it will be likely to fluctuate for a few more days within the triangle pattern.
Indicators emit different signals from each other; While the horizontal slope of the moving averages indicates limited price fluctuations over the next few days, the relative strength index (RSI) above its mid-level indicates the Momentum price in favor of cows.
Read the technical analysis of Bitcoin, Ethereum, BinanceCoin, Cardano, Polkadot, Ripple, Uniswap, Theta, LightCoin and Chainlink prices for today:
Resistance: 2,040.77 – 2,618.14
Support: Moving averages
BinanceCoin
Buyers are pushing the Binance Coin price above the downtrend today. The slope of the 20-day moving average (EMA 20 – blue line in the image) is up and the Relative Strength Index (RSI) is in the positive area. This shows the buyers’ efforts to consolidate their market dominance.
At the $ 280 level, there is a slight resistance to the price, which has pushed buyers up today. Under these circumstances, the price is likely to rise to $ 309.50 and then bears enter the market at this level. If the price moves downwards from this resistance, there is a possibility that the price will enter the consolidation phase for a few days.
On the other hand, if buyers push the price above the resistance of $ 309.50, it will be possible to see the historical price ceiling at $ 348.69 again. A breakout above this resistance will suggest a continuation of the uptrend to the $ 430 target.
Resistances: 309.50 – 348.69 – 430
Supports: 280 – 256
Cardano
Cardano’s price is still consolidating its position in the range of $ 1.03 to $ 1.48. On the plus side, buyers have kept the price above the 20-day moving average (EMA 20 – blue line in the picture) over the past few days.
The slope of the 20-day moving average is gradually increasing and the Relative Strength Index (RSI) is in its positive area. These factors show the superiority of buyers. If buyers manage to push the price above the level of $ 1.30, the price is likely to rise to $ 1.48. The breakout price above this resistance will be able to start the next wave of the uptrend with the target of $ 2.
Read the technical analysis of Bitcoin, Ethereum, BinanceCoin, Cardano, Polkadot, Ripple, Uniswap, Theta, LightCoin and Chainlink prices for today:
This uptrend will be eliminated with the price turning and breaking below the support of $ 1.03. Such a move would open the way for the price to move down to $ 0.80.
- Resistances: 1.30 – 1.48 – 2
- Supports: 1.03 – 0.80
Polkadot
The price of Polkadot has jumped up from its $ 26.50 support, reaching a 20-day moving average (EMA 20 – blue line in the picture) at $ 34. This shows the dominance of buyers over sellers and the efforts of this group in order to drive the price above the downward trend line.
If the bulls of the market manage to push the price above the downtrend line, it is likely to see its historic high of $ 42.28 again. A break above the resistance level will open the way for a rise to $ 53.50.
On the other hand, if the price moves down the downtrend line, it is likely to be closed for a few more days in the range of $ 26.50 to $ 40. Failure and stabilization of the price below the lower limit of this range will be able to start a deeper correction.
- Resistances: 40 – 42.28 – 53.50
- Supports: 26.50
Ripple
The price of Ripple on March 27 in daily time frame is a pattern of Inside Bar steak candle and on the next trading day it is Doji pattern. These fluctuations indicate an imbalance between supply and demand. Buyers are currently trying to establish their superiority in this confrontation.
If buyers manage to push the price above the level of $ 0.58, it is likely to grow rapidly to $ 0.65. There is slight resistance at the $ 0.60 level, but it will probably break easily. The upward slope of the moving averages and the placement of the relative strength index (RSI) above the level of 60, indicate the superiority of buyers.
The upward acceleration of the price after the break-out will increase to the resistance of $ 0.65. On the other hand, if the price moves down from the current levels and goes below the moving averages, it will be possible to continue the fall to $ 0.42.
- Resistances: 0.58 – 0.60 – 0.65
- Supports: 0.42
Read the technical analysis of Bitcoin, Ethereum, BinanceCoin, Cardano, Polkadot, Ripple, Uniswap, Theta, LightCoin and Chainlink prices for today:
Uniswap
The bulls of the market on March 27 and 28 faced a 20-day moving average resistance (EMA 20 – blue line in the picture) at $ 29.31, but the positive point is that this group allowed the ion swap price to fall below the simple moving average of 50 Fasting (SMA 50 – red line in the picture) is not set at $ 26.91. Buyers are trying to push the price above the 20-day moving average yesterday and today.
If buyers manage to stabilize the price above this moving average, it can be said that the recent breakout of the price above the level of $ 27.97 was a bear trap. The price is currently able to grow gradually to the upside resistance at $ 35.20.
A break above the $ 35.20 to $ 36.80 resistance level could start the next bullish wave. On the other hand, any price break below $ 25.52 could deepen the correction. Until then, limited price fluctuations are likely to continue.
- Resistances: 29.31 – 35.20 – 36.80
- Supports: 26.91 – 25.52
Read the technical analysis of Bitcoin, Ethereum, BinanceCoin, Cardano, Polkadot, Ripple, Uniswap, Theta, LightCoin and Chainlink prices for today:
Theta
Theta price has entered a consolidation phase in the upward trend and between $ 10.35 and $ 14.96. When the price correction slows to the level of Fibonacci 38.2%, it can be said that traders not only do not rush to leave the market, but also enter the market with losses.
The uptrend of moving averages and the placement of the Relative Strength Index (RSI) in the buy saturation zone indicate the continuation of the uptrend. If buyers manage to push the price above the level of $ 14.96, it is likely to grow to the $ 19 target.
On the other hand, if the price moves down from the resistance of $ 14.96, there will be a possibility of price fluctuations within a range. Sellers also need to push the price below the 20-day moving average at $ 9.81 to prove their superiority.
- Resistances: 14.96 – 19
- Supports: 9.81
Read the technical analysis of Bitcoin, Ethereum, BinanceCoin, Cardano, Polkadot, Ripple, Uniswap, Theta, LightCoin and Chainlink prices for today:
LightCoin
The Light Coin price moved below the symmetrical triangle pattern on March 24, but sellers failed to increase sales pressure. The bulls of the market on March 26 pushed the price back into the pattern, which may have trapped a group of sellers in the market.
Following price support on the bottom of the pattern on March 27 and 28, buyers today moved the price above the 20-day moving average (EMA 20 – blue line in the picture) at $ 190.68. The price in the current situation will be able to move to the top of the parable pattern. At this level, strong vendor defense is possible.
If the price moves down this line, it is likely to fluctuate within a few days within the triangle pattern.
However, if buyers push the price above the triangle, it is likely to rise to $ 246.96 and above that to the $ 309 target. This uptrend will be eliminated by turning the price down and moving below the $ 168 level.
- Resistances: 246.96 – 309
- Supports: 190.68 – 168
Chainlink
The price of China Link remains in the range of $ 24 to $ 32. The price jump from the support of this range has hit the resistance of the simple 50-day moving average (SMA 50 – red line in the picture) at $ 29, which is likely to protect sellers from this level.
The horizontal slope of the moving averages and the placement of the Relative Strength Index (RSI) above its mid-range do not indicate a clear advantage of either of the two cross-fronts in the market. Indicators suggest limited price fluctuations for a few more days.
If the price moves down from the 50-day moving average, market bears will once again try to bring it down below $ 24. If successful, the price is likely to fall to $ 20.11 and below $ 18.
On the other hand, if buyers manage to push the price above the moving averages, it is likely to grow up to $ 32. Failure of the price above this level will increase the probability of continuing the upward trend.
- Resistances: 29-32
- Supports: 24 – 20.11 – 18
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