BTC was relatively quiet over the weekend. This even indicates that traders are playing safely and are not placing big bets until the upcoming meeting of the Federal Open Market Committee. Material Indicators have warned that Bitcoin could fall; However, they advised investors to be prepared to buy into the downturn because they believe a downturn could change your life. Sports Outlook 2022 report; In North America, three use cases for irreplaceable tokens are highlighted. This can create the future of the sport. The consulting firm believes that NFT and digital assets are among the top ten trends in the sports industry.
How likely is it that crypto markets will start moving shortly? Top cryptocurrencies that you should keep an eye on this week.
BTC/USDT
BTC set up a Doji candle pattern on March 12 and Sunday; This indicates uncertainty in bulls and bears. The price stands between $39,810 for the 20-day exponential moving average and $37,000 for horizontal support. The 20-day EMA is flat, and the relative strength index is below the midpoint. This even indicates the balance between supply and demand.
If the price rises above the 50-day moving average above $39,978, bulls will try to raise the BTC above $42,600. If they succeed, the pair can reach $45,400; And later to the channel resistance line.
Conversely, if the BTC price drops and falls below $37,000, the bears will feel the opportunity. The sellers will then pull and hold the pair down the channel support line. Such a move could clear the way for a possible drop to $30,000. The pair forms a descending triangle pattern, ending after a break and closing below $37,000 with solid support. The team could then fall to $34,322. Then start the trip up to $29,250 BTC for the sample goal.
Alternatively, if bulls are raised and kept above 50-SMA; The pair may rise to a downward trend line. Breaking and closing above this level will cancel the fall pattern. This can attract purchases and increase the team to $45,400.
BTC/USD VS RUNE/USD
RUNE broke the moving average on March 1 and successfully maintained the level on March 8 during a repeat test. This indicates that the mood has changed since the stock went from selling to falling. The bulls will now try to raise the price to the 200-day SMA for a total of $7.90. Bears, there may still be a significant challenge. If the price does not give up much space from the 200-day SMA, the bulls will make another attempt to overcome this hurdle. If they succeed, the RUNE/USDT could increase to $9.
Alternatively, if the price falls below the current level, the 20-day EMA is a significant level to look out for. A solid return to this level suggests that the growth mood remains intact. A breakdown can even lead to a reduction of up to $4.
The 4-hour chart trades at 20-EMA while the RSI is in positive territory. This even indicates the superiority of the bulls. The pair could now rise to $7; The bears will even try to stop the climb. Alternatively, if the price falls below the current level, the pair could be lowered to 20-EMA. If the price drops below this level, the bulls will resume the uptrend. The bears will have to reduce and keep the price below 20-EMA to indicate a change in the short-term trend.
Overall, BTC is not in a good position. Digital currency is also affected by the global crisis. The most popular digital crypto may have some difficulties getting stronger. BTC depends on war because investors have to make important decisions.
SAND/USDT
The SAND has been trading at $2.55 to $4.86 over the past few weeks. The Bears lowered the price to $3.15 on March 4; however, they could not break through the $2.55 support. This indicates accumulation near the support range. The RSI shows signs of positive divergence, indicating that the downward momentum may be weakening.
If the price rises from the current level, the bulls will move above the 200-day SMA pair SAND/USDT. If that happens, the pair could rise to $3.51. Breaking and closing above this resistance could open the door for a possible rally, first to $4.50 and then to $4.86. This growth view will be reversed in the short run if the price falls and falls below $2.55. This may indicate a resumption of the downtrend.
The 50-SMA acts as stiff resistance on the 4-hour chart. If the bears are below $2.70, the pair could fall to $2.55. Breaking and closing below this level may indicate an advantage over the bears. The bulls will have to raise the price above the 50-SMA and $3 zone to overturn this view. If that happens, the pair could reach $3.42. Even bears can still establish strong defenses.
DOT/USDT
DOT has been on a downward trend for the last few months. However, bulls try to establish a bottom in the zone from $16 to $14—price above the 20-day EMA, $17 above. However, the bulls failed to cross the $18-day 50-day SMA threshold. However, the positive sign is that the bulls did not give up much space from the 50-day SMA. This suggests that traders maintain their position in anticipation of a break above the resistance. If that happens, the DOT/USDT pair could reach overhead resistance at $23, where bears could still pose a tough challenge.
The flat 20-day EMA and RSI near the midpoint suggest limited range action in the short term. If the price drops below the 50-day SMA, the bears will try to bring the pair down to $16. If they succeed, the couple can re-experience the critical support for $14. The 4-hour chart shows that the team ranges from $16 to $19.
If the price rises above 200-SMA, it is likely that the bulls will continue to buy on the downside. Then buyers will try to push the price above $19 above the overhead resistance. If they can, the pair could rise to $20 and later to $23. Conversely, breaks and closures below the 50-SMA could increase the chance of solid support above $16.
ZEC/USDT
Zcash broke and closed above $135 resistance on March 8. This completed the double bottom pattern. This was followed by a break above the 200-day SMA on March 10, indicating that the Bulls are back in the game. The Bears are pushing the price below the 200-day SMA and challenging the $135 breakout level. This is a significant level to protect the bulls, as a break below it may indicate that a recent breach may have been a bear trap. The ZEC/USDT pair could then fall to the 50-day SMA for a total of $114.
If the price falls to the current $135, the mood remains positive, and traders are buying on the decline. The bulls will then try to raise the pair above $160 and resume moving. The target for a break from the double bottom pattern is $189.
The bears lowered the price below 20-EMA on the 4-hour chart, but they could not maintain a lower level. This indicates that the bulls continue to buy with each small sink. The bulls will now try to raise the price above $160; Also resume an upward trend. A rising 20-EMA and RSI positive territory indicate ascending minimum resistance path.
Contrary to this assumption, sales may increase momentum if the price declines from overhead resistance and falls below $143. The pair could then drop critical support to $135.
COMMENTS