Although market sentiment remains bearish, Bitcoin and altcoins are seeing buying at lower levels, which might indicate that the bottom is close.

Because of the geopolitical tensions between Russia and Ukraine, investors are looking for safe-haven investments. Contrary to forecasts, Bitcoin (BTC) has not risen in tandem with gold, and it remains highly associated with US stock markets.

Former Goldman Sachs CEO Lloyd Blankfein said that governments suspending accounts, limiting payments, and inflating the US currency should all be favourable for crypto, but market behaviour implies a lack of substantial inflows.

According to on-chain statistics, investors may be stockpiling Bitcoin for the long haul. According to data, Bitcoin has been removed off exchanges 21 times in the last 26 weeks.

Could Bitcoin reclaim the $40,000 mark and drive altcoins higher? To discover out, let’s look at the charts of the top ten cryptocurrencies.

BTC/USDT

For the last two weeks, Bitcoin has been seeking to establish a foundation. Bulls have been buying on falls to the support line and bears have been selling on rises to the resistance line, keeping the price trapped within an ascending channel.

The crisscrossing moving averages and the relative strength index (RSI) at 45 imply that bears have a little lead. If the immediate support at $37,000 fails to hold, the BTC/USDT pair might fall to the channel’s support line.

A big comeback from this level would indicate that bulls are accumulating at lower levels. The bulls will next try to drive the price above the moving averages. If they do so, the pair may climb to the channel’s resistance line.

Traders should keep an eye out for a break above or below the channel, as this might signal the commencement of a powerful trending move.

ETH/USDT On March 6, Ether (ETH) broke and closed below the symmetrical triangular pattern’s support line, signalling that the continuation pattern has resolved in favor of the bears.

The bulls took advantage of the price drop and are aiming to drive the price back into the triangle. If they are successful, it will imply that the present breakdown was a bear trap. A break and close above the moving averages might send the ETH/USDT pair to the psychological threshold of $3,000, and then to the symmetrical triangle’s resistance line.

If the price falls and breaks below $2,491, the chances of a drop to the support zone between $2,300 and $2,159 grow. This is a critical zone for the bulls to defend because if it fractures, the selling might pick up and the downtrend could continue. The pair may then fall to the next strong support level at $1,700.

On March 4, the BNB/USDT pair fell below the 20-day exponential moving average (EMA) ($387). On March 5 and 6, the bulls attempted but failed to push the price back over the mark.

If the price remains below the 20-day EMA, the BNB/USDT pair might fall under $350, which is a solid support level. This is a significant level to keep an eye on because if it breaks, the slide might continue to the strong support zone of $330 to $320.

If the price rises and breaks above the moving averages, the bulls will try to take the pair to $425, and then to $445. This level may draw heavy selling, but if bulls overcome it, the uptrend might reach $500.

XRP/USDT

Ripple (XRP) has rebounded off the 50-day simple moving average (SMA) ($0.72) once again, showing that bulls are still defending the level with vigor. Buyers will now aim to push the price above the downtrend line and keep it there.

If they are successful, the momentum will increase, and the XRP/USDT pair will climb to $0.85 and eventually to $0.91. The bears are anticipated to put up a strong fight between $0.91 and $1. A break and close above $1 could bring into play the large range between $1.41 and $0.50.

This optimistic view will be rendered invalid in the short term if the price breaks through the downtrend line and falls below $0.62. This might pave the way for a slide to the strong support level of $0.50.

LUNA/USDT

Terra’s LUNA token has declined from the overhead resistance level of $94 and may potentially fall below the 20-day moving average ($74). During uptrends, bulls purchase dips to the 20-day EMA, thus this becomes an essential milestone to monitor.

If the price bounces from the 20-day moving average, buyers will aim to push and maintain the LUNA/USDT pair above $94. Buyers have an edge since the 20-day EMA is steadily rising and the RSI is in the positive zone.

A break and closing over $94 might propel the pair to an all-time high of $103. To signify the return of the uptrend, the bulls must overcome this barrier.

Alternatively, if the price falls below the 20-day EMA, the pair may fall to the $70 breakthrough level. A break below this level might indicate that the advantage is turning in favor of the bears.

SOL/USDT

Solana (SOL) fell below the 20-day moving average (EMA) on March 4 and fell near to the strong support level of $81 on March 7. This is a crucial level to monitor.

If the price falls below and stays below $81, the SOL/USDT pair may form a falling triangle pattern. Such a move might indicate that the decline has resumed. The pair might then fall to $66 before extending its decline to the pattern goal of $40.

Bears have an edge due to the downsloping moving averages and the RSI in negative territory. In contrast to this belief, if the price increases and breaks above the downtrend line, it indicates that the bears’ hold on the market is slipping. The pair may then rise to $122.

ADA/USDT

Cardano (ADA) rallied off the immediate support level of $0.82 on March 5, but the bulls were unable to take the market above the 20-day moving average ($0.92).

The bears have the upper hand, as seen by the downsloping moving averages and the RSI in negative territory. If the price breaks and holds below $0.82, the ADA/USDT pair may fall to the strong support level of $0.74. If this support also fails, the drop might continue to the next support level at $0.68.

If the price climbs from its present level, the bulls will aim to push the pair over the 20-day EMA once again. If they are successful, the pair may revisit the breakdown level at $1. A break and closure above this level might be the first indication that the bulls are on the verge of a rally.

Avalanche (AVAX)

fell below the moving averages on March 4, and the bears resisted bullish efforts to bring the price back above the 20-day EMA ($78) on March 5.

On March 6, the selling continued, and the price approached the uptrend line. The bulls have purchased the drop and are attempting to drive the price above the moving averages once again. If they are successful, the AVAX/USDT pair may hit the falling channel’s downtrend line. To suggest a likely trend shift, the bulls must break over this barrier.

On the other hand, if the price falls from its present level and breaks below the uptrend line, selling might pick up speed, and the pair could fall into the strong support at $51.

DOT/USDT

On March 5, DOT/USDT Polkadot (DOT) rallied off firm support around $16, but the bulls were unable to take the price over the 20-day EMA ($17). This would imply that bears are selling on rallies to this level.

On March 6, the selling persisted, and the DOT/USDT pair fell below a solid support level of $16, where buyers jumped in. This implies that the pair is trapped between the 20-day EMA and $16.

If bears push the price below $16, the pair may fall below the intraday low set on February 24. A break and closing below this support level might pave the way for a further drop below $10.

Alternatively, if the price increases from its present level or recovers from the $16 to $14 range, bulls will attempt to push the pair above the 50-day SMA ($17). If they are successful, it may indicate that the bears are losing their grasp. The pair may then rise to $23.

DOGE/USDT

The bulls are trying to defend the solid support at $0.12, but the absence of a robust recovery off it suggests a lack of demand at lower levels. This increases the likelihood of a break below the support. If this occurs, Dogecoin (DOGE) might fall to $0.10.

Both moving averages are trending downward, and the RSI is negative, suggesting that the path of least resistance is to the downside. Buyers, on the other hand, are expected to defend the zone between $0.12 and $0.10 with vigor.

If the price bounces off this zone, the bulls will attempt to break through the moving averages once again. A break and closure above the 50-day simple moving average ($0.14) would be the first indication that the downtrend may be coming to an end.