Price analysis 3/10: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI

Bitcoin (BTC) Bulls tried to push the price above $ 85,000, but the Bears kept good. A minor positive is that larger investors seem to accumulate at lower levels.

The Santiment Research Cabinet said in an article on X that portfolios with 10 BTC or more had bought around 5,000 bitcoin since March 3. The researchers added that if the purchase by the big players continues, the second half of March could be much better than the recent Bitcoin performance.

However, not everyone is optimistic about Bitcoin in the short term. Bitmex’s co-founder and Maelstrom investment director of investment, Arthur Hayes said in an X article that Bitcoin could retest $ 78,000 and even below $ 75,000.

He added that the action of bitcoin prices could become violent if it fell into the area from $ 70,000 to $ 75,000 because a lot of open interest Bitcoin is stuck in this range.

Meanwhile, the feeling of short -term investors remains lower. According to Coinshares data, the products negotiated in exchange for cryptocurrency (ETP) experienced $ 876 million in outings last week, bringing total outings of four weeks to $ 4.75 billion. Bitcoin ETPS recorded the share of lion outings at $ 756 million.

Can Bitcoin start recovery from current levels, drawing higher altcoins? Let’s analyze the graphics to discover it.

Price analysis of the S&P 500 index

The S&P 500 index (SPX) is removed from the 20 -day exponential mobile average (5,900) on March 3 and broke below the support of 5,773 on March 6, completing a double peak model.

The index rebounded on the level of 5,670 on March 7, but the Bears successfully defended the level of failure of 5,773. The index dropped and broke below the support of 5,670 on March 10, opening the doors for a fall at 5,400.

Buyers will have to push and maintain the price greater than 5,773 to suggest solid demand at lower levels. The index could then reach the 20 -day EMA, which should again act as a strong resistance.

Price analysis of the US dollar index

The US dollar index (DXY) fell sharply on March 3 and continued to decrease, moving below 105.42 on March 5.

The fall below 105.42 suggests that the rupture above 108 can be a bull trap. Buyers try to defend the level of 103.73, but the rescue rally should face the 20 -day EMA sale (106.03).

If the price drops from the current level or the 20 -day EMA, it will suggest a negative feeling. This increases the risk of a rupture of less than 103.37. If this happens, the index can dive at 101.

Buyers have a difficult task in front of them. They will have to push and maintain the price above the 20-day EMA to erase the path for a rally at 108.

Bitcoin price analysis

The price of the BTC broke down below the support line of the symmetrical triangle model on March 9, indicating that the sellers have controlled buyers.

The Bulls are trying to defend the support area from $ 81,500 to $ 78,258, but the recovery attempt was faced with the sale at the level of the breakdown on March 10. This suggests that the Bears are trying to reverse the resistance support line. If the price underscores below $ 78,258, the BTC / USDT pair could collapse at $ 73,777.

Buyers are likely to have other plans. They will try to defend the support zone and push the price above the 20-day EMA ($ 88,605). If they manage to do so, the pair could rally to the resistance line.

Ether price analysis

ETHER (ETH) fell and closed below the vital support of $ 2,111 on March 9, signaling the start of the next step in the downward trend.

Buyers tried to push the price above $ 2,111 on March 10, but the long wick on the candlestick suggests a solid sale by the Bears. There is a minor support at $ 1,993, but if the level cracks, the ETH / USDT pair could flow to $ 1,750 and finally at $ 1,550.

In relation: Ethereum Prix Bottom? $ 1.8 billion in ETH exchanges, bigger release since 2022

Bulls will have to push and maintain the price above the 20-day EMA ($ 2,329) to point out that the rupture less than $ 2,111 can be a bear trap. The pair could then come together in SMA of 50 days ($ 2,711).

XRP price analysis

XRP (XRP) continues to slide to the crucial support at $ 2, suggesting that bears are trying to take control.

A break and a closure below $ 2 will complete a head and shoulder pattern. There is a minor support at $ 1.77, but the level is likely to be broken. If this happens, the XRP / USDT pair could dive around $ 1.28.

In relation: Will the XRP price plant again?

Unlike this hypothesis, a solid rebound in $ 2 will indicate that the bulls vigorously defend this level. The 20 -day EMA ($ 2.40) is likely to act as a rigid obstacle, but if the Bulls prevail, the pair could reach $ 2.80.

BNB price analysis

The defect of BNB (BNB) to exceed the 20 -day EMA ($ 601) attracted another sales cycle on March 9, which resulted in the price of less than $ 546.

The mobile averages of the decrease and the index of relative resistance (RSI) in the negative zone suggest that the path of the slightest resistance is down. If the price maintains less than $ 546, the BNB / USDT pair could drop to $ 500. Buyers should aggressively defend the area between $ 500 and $ 460.

The 20 -day EMA is the first significant resistance to monitor up. If this level is removed, the pair could reach the 50 -day SMA ($ 633). A fence above the 50-day SMA indicates a change in short-term trend.

Solana price analysis

Solana (soil) broke below the upward trend line on March 9 and reached the solid support area between $ 120 and $ 110.

Bulls should fiercely defend the support area, but the rescue rally could be faced with the 20 -day EMA sale ($ 150). If the price drops sharply compared to the 20 -day EMA, the level of $ 110 may decompose. If this happens, the floor / USDT pair could decrease at $ 100 and later to $ 80.

Instead, if the price rises from the current level and is exceeded above the 20-day EMA, it will suggest solid purchases near the support area. The pair could then climb to the 50 -day SMA ($ 188).

Dogecoin price analysis

Dogecoin (DOGE) fell below $ 0.18 support on March 9, indicating the recovery of the downward trend.

The mobile averages of the decline and the RSI on the territory of occurrence suggest that the Bears have the upper hand. The 20 -day EMA ($ 0.21) is critical resistance to surveillance. If the price drops sharply compared to the 20 -day EMA, the Doge / USDT pair could flow to $ 0.14.

Alternatively, a rupture and a closure above the 20-day EMA will be the first sign that the reduced sales pressure. The pair could climb to the 50 -day SMA ($ 0.26), which can also act as rigid resistance.

Cardano price analysis

Cardano (ADA) fell below the mobile averages on March 8, indicating an aggressive sale by the Bears.

The two mobile averages began to refuse, and the RSI slipped into a negative territory, indicating that the bears have a light edge. The support on the drawbacks is $ 0.58, then $ 0.50.

Any rescue gathering is likely to deal with the sale of moving averages. Buyers will have to push and maintain the price above mobile averages to report a return. The ADA / USDT pair could then increase to $ 1.02.

PI price analysis

PI (PI) fell to the Fibonacci retrace of 61.8% of $ 1.20 on March 9, indicating that the bears maintained the pressure.

Buyers are trying to start a recovery, but the long wick on the candlestick on March 10 shows a sale at higher levels. This increases the risk of a rupture of less than $ 1.20. If this happens, the PI / USDT pair could dive at the level of a trace of 78.6% of $ 0.72.

Time is exhausted for Bulls. To avoid more drawbacks, they will quickly push the price above the resistance to general costs of $ 2. If they do this, it will suggest that the correction could be over.

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.

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