BTC, ETH, BNB, XRP, LUNA Price Trends

BTC/USDT

On March 9, Bitcoin jumped above the moving averages, but swiftly retraced the gains on March 10. On March 11, the bulls are seeking to drive the price back above the moving averages. This suggests that bulls purchase on falls and bears sell on rallies.

Both moving averages are flattening down, and the relative strength index (RSI) is slightly below the midway, indicating a supply-demand equilibrium.

If buyers push and keep the price over $42,594, the balance may shift in their favor. The BTC/USDT pair might then climb to the overhead zone between $45,000 and the rising channel’s resistance line.

Alternatively, if the price falls below the moving averages once again, the bears will attempt to bring the pair below the immediate support level of $37,000. If this level gives way, the pair might test the channel’s support line. A break and closing below this level increases the likelihood of the downturn resuming.

ETH/USDT

On March 9, Ether’s (ETH) comeback was greeted with solid resistance at the 50-day simple moving average (SMA) ($2,751), showing that bears are unwilling to give up their edge quickly. On March 10, the price deviated from the moving averages, but a little positive is that the bulls are striving to defend the symmetrical triangle’s support line.

If the price bounces off the support line, the bulls will aim to push and maintain the price above the 50-day simple moving average (SMA). If they succeed, the ETH/USDT pair might advance to the psychological milestone of $3,000 before retesting the triangle’s resistance line.

This is a key level for the bears to defend since a break and closure above it will indicate a probable trend shift. The pattern goal for this setup is $4,311 on the upside.

In contrast to this notion, if the price continues to fall and breaks below the triangle’s support line, it might signify a continuation of the downtrend. The price of the pair may then fall to $2,159.

BNB/USDT

On March 9, BNB broke beyond the 50-day SMA ($389), but the bulls were unable to maintain the higher levels. On March 10, the bears took advantage of the scenario and drove the price back below the moving averages.

If the price remains below the moving averages, the bears will seek to bring the BNB/USDT pair down below $350, which is a solid support level. This is a crucial milestone to monitor since a break below it might pave the way for a drop below $320.

If the price returns from its present level, buyers will attempt to drive and maintain the pair above the moving averages once again. If they do, the pair might begin its ascension toward $445.

XRP/USDT

On March 9, Ripple (XRP) broke and closed above the downtrend line, but the bulls were unable to capitalize on this momentum. On March 10, the bears dragged the price back below the downtrend line.

The bulls prevented the price from falling below the 50-day simple moving average ($0.72), indicating robust demand at lower levels. This trading in a narrow range is unlikely to last long.

If the price breaks and holds above $0.78, the XRP/USDT pair may gain momentum and rise above the overhead resistance level of $0.91. A break above this level might pave the way for a rally to the psychologically important level of $1.

This optimistic viewpoint will be rendered null and void if the price falls below $0.69. This might tip the scales in the bears’ favor.

LUNA/USDT

On March 9, Terra’s LUNA coin reached a new all-time high, but the lengthy wick on the day’s candlestick indicates profit-taking at higher levels. On March 10, the bulls attempted to begin the rise once again, but the bears had other ideas.

The inability to keep the price over $103 may have prompted profit-taking by short-term traders. As a result, the LUNA/USDT pair has fallen below the crucial threshold of $94.

If the price remains below $94, the drop might continue below the 20-day moving average ($80). A break and closing below this level indicates that the bullish impetus has slowed. The pair may then fall to $70.

If, on the other hand, the price bounces off the present level or the 20-day EMA, it indicates that sentiment is still optimistic and traders are buying on dips. The bulls will next aim to drive the pair to a new all-time high and toward the $125 target.