Price analysis 3/3: BTC, ETH, ADA, BNB, DOT, XRP, LTC, LINK, BCH, XLM

Bitcoin'south (BTC) resilience in the face of global market incertitude continues to attract new institutional investors. Dan Loeb, the CEO of New York-based asset management firm 3rd Point, said that he has been "doing a deep swoop into crypto." To strengthen the venture investments team, 3rd Point hired old pro-crypto Goldman Sachs analyst Heath Terry, according to Reuters.

Loeb's move into crypto seems to have prodded 'Shark Tank' star Kevin O'Leary to allocate a portion of his portfolio to Bitcoin. Additionally, O'Leary hinted that every operating company that he had invested in was considering investing in Bitcoin.

*Daily cryptocurrency market performance. Source:* *Coin360*

Billionaire Tim Draper expects Netflix to be the next Fortune 100 company to add Bitcoin to its residue canvas. Draper voiced his views while appearing on the Unstoppable Podcast. He as well speculated that Amazon could start "accepting Bitcoin pretty before long."

These developments show that the institutional adoption of Bitcoin is but in its infancy and it is likely to abound in the hereafter.

It is heartening to see that former Bitcoin naysayers are at present voicing their favorable opinions of the digital nugget. Billionaire Marker Cuban recently schooled golden problems Peter Schiff on Twitter, suggesting that gold would soon lose its status as a shop of value. Cuban also highlighted the advantages Bitcoin held over aureate.

With all these positives, information technology is no surprise that Bitcoin's price activity has resumed its bullish momentum. Let's analyze the charts of the top-10 cryptocurrencies to spot the strengths and weaknesse.

BTC/USD

Bitcoin surged and closed above the 20-twenty-four hour period exponential moving average ($48,123) on March 1. The bears tried to pull the price dorsum below the 20-day EMA on March 2 but failed, which suggests that traders are buying on dips.

The buyers pushed the toll higher up the $52,040.95 overhead resistance today but the bears are not fix to give upward but still. The long wick on the day'southward candlestick suggests the bears are selling on rallies.

If the cost turns down from the electric current levels and breaks below the xx-day EMA, the BTC/USD pair could drop to $41,959.63. The price could then remain range-bound betwixt these two levels for a few days.

This neutral view volition invalidate if the bulls can push and sustain the cost higher up $52,040.95. If that happens, the pair could retest the all-time high at $58,341.03.

On the other manus, a interruption below the 50-day simple moving boilerplate ($41,921) will be the showtime indication of a possible modify in trend.

ETH/USD

Ether's (ETH) has broken in a higher place both moving averages today and the bulls are currently attempting to resume the uptrend. Notwithstanding, the bears are unlikely to give up easily equally they may try to stall the up-move at the current levels.

If the cost turns down from the 20-day EMA, information technology will point that trader's sentiment is shifting from buying on dips to selling during rallies.

The bears may gain the upper hand if they can sink the price below the $1,289.098 back up. If that happens, the ETH/USD pair could correct to the 61.8% Fibonacci retracement level at $ane,026.776.

This negative view will invalidate if the bulls can push button and sustain the price above the 20-day EMA. If the bulls tin can propel the toll above $1,708.391, the pair may rally to $2,000.

ADA/USD

Cardano (ADA) is currently witnessing a minor correction in an uptrend. The altcoin has formed an inside 24-hour interval candlestick design, which indicates indecision amidst the bulls and the bears most the next move.

If the uncertainty resolves to the downside and the bears sink the price below $1.55, a fall to the 20-day EMA ($1.05) is possible. A rebound off this back up will suggest that the sentiment remains bullish equally the traders continue to purchase on dips

If the ADA/USD pair breaks below the 20-day EMA, information technology will indicate profit-booking by traders. That could pull the price down to $0.9817712 and if this support also cracks, the turn down could extend to $0.80.

Opposite to this supposition, if the price turns up from the current levels and the bulls button the pair to a higher place $one.30, a retest of $1.4852896 is possible. A breakout of this resistance could resume the uptrend with the adjacent target objective at $1.83.

BNB/USD

Binance Coin (BNB) broke and closed above the downtrend line on March one. The bears tried to sink the price back beneath the downtrend line on March 2 only failed, which shows that the short-term correction could exist over.

The bulls volition at present try to push the cost to $281 where the bears are likely to mountain a potent resistance. If the price turns down from this level, the bears volition once more try to sink the toll to the xx-day EMA ($208). A bounce off this support or $189 could go along the BNB/USD pair range-bound for a few days.

A breakout and close above $281 could set the pair for a rally to $309.4995 and then a retest of the all-time high at $348.6969. Conversely, if the pair breaks below $189, the decline could extend to the l-twenty-four hours SMA at $119.

DOT/USD

Polkadot (DOT) has consistently closed in the greenish for the past five days, which shows that traders proceed to purchase at each higher level. The rising moving averages and the RSI near the overbought zone propose an advantage to the bulls.

The DOT/USD pair could now rise to the all-time high at $42.2848. If the bulls tin drive the toll above it, the pair could get-go the next leg of the uptrend that may reach the psychologically critical level at $l.

Reverse to this supposition, if the toll turns downwardly from the overhead resistance, the pair may over again correct to the 20-twenty-four hour period EMA ($32.27). A break and close below $30 could betoken a possible modify in trend.

XRP/USD

XRP bounced off the fifty-mean solar day SMA ($0.41) on March i and reached the 20-day EMA ($0.46) today. The bears are currently pushing back at the 20-day EMA. If the price turns down, the altcoin could remain stuck between the moving averages for a few days.

This view of a consolidation could invalidate if the bears sink the price below the fifty-twenty-four hours SMA. If that happens, the XRP/USD pair could drop to $0.359 where the buyers may step in and provide support.

On the contrary, if the bulls tin button the price above the 20-day EMA, the pair may reach $0.50. The bears may try to stall the rally at this resistance, but if the bulls can thrust the toll in a higher place it, the pair may start its journey to $0.65.

LTC/USD

Litecoin (LTC) has cleaved in a higher place the 20-day EMA ($186) today, which suggests that the bulls are attempting to make a comeback. If the bulls can sustain the breakout, the altcoin could rally to $205 and afterward to $240.

Even so, the flat 20-day EMA and the RSI just above the midpoint advise a range-bound action for a few days. If the price turns down from $205, the LTC/USD pair could again driblet to $160 and consolidate between these ii levels.

The pair could turn negative if the price reverses direction from the electric current levels and plummets below the uptrend line.

LINK/USD

Chainlink (LINK) bounced off the fifty-mean solar day SMA ($25.89) on March one and broke above the 20-twenty-four hours EMA ($28.37) on March 2. The bears tried to stall the relief rally on March two as seen from the long wick on the mean solar day'south candlestick.

However, the bulls did not surrender ground and have once again resumed the upwardly-move today. The LINK/USD pair will at present attempt to retest the all-fourth dimension high at $36.9307. A breakout of this resistance could outset the next leg of the uptrend that may reach $forty and and so $46.

The 20-24-hour interval EMA has started to turn upwardly and the RSI has jumped into the positive territory, indicating advantage to the bulls. This positive view will invalidate if the price turns down and breaks beneath the 50-twenty-four hours SMA.

BCH/USD

Bitcoin Cash (BCH) bankrupt above the 50-mean solar day SMA ($515) on March two and reached the 20-day EMA ($547). Even so, the bears dedicated the xx-day EMA every bit seen from the long wick on the day'due south candlestick.

The flat moving averages and the RSI but below 49 suggest a balance between supply and demand. If the bulls can drive and sustain the price in a higher place the twenty-day EMA, the BCH/USD pair could rally to $631.71 and then $745.

Contrary to this supposition, if the price again turns downwardly from the electric current levels, the bears volition endeavour to sink the pair below the uptrend line. If they succeed, the pair could extend the decline to the side by side support at $370.

XLM/USD

Stellar Lumens (XLM) has been trading close to the twenty-day EMA ($0.427) for the past few days. A tight consolidation near a resistance commonly results in a breakout because it shows that traders are non closing their positions in a hurry.

If the bulls can push button the price above the 20-twenty-four hours EMA, the XLM/USD pair could rise to the resistance line of the descending channel where the bears may again attempt to stall the relief rally. If they succeed, the pair could again drop to the 50-24-hour interval SMA ($0.375) and so to $0.35.

On the contrary, if the bulls push and sustain the cost above the descending channel, it will suggest that the correction has concluded. The pair could and so rise to $0.50 and and so to $0.600681.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves gamble. You should deport your own research when making a determination.

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