Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI

Bitcoin (BTC) has largely remained above $ 80,000 since March 11, which indicates that the bulls do not expect a deeper correction to buy. However, not to propel the price of more than $ 86,000 shows that the Bears have not abandoned and continue to sell rallies.

The weekly Coinshares report shows that the products negotiated in exchange for cryptocurrency (ETP) experienced $ 1.7 billion in outings last week. This brings the total outings of five weeks to $ 6.4 billion. In addition, the sequence of outings has reached 17 days, marking the longest negative sequence since the start of Coinshares records in 2015.

It is not all dark and woe for long -term investors. Cryptoque contributor Shayanbtc said that investors who bought bitcoin between three and six months show an accumulation model. Historically, similar behavior has “played a crucial role in the formation of market stockings and the outbreak of new high trends”.

Will buyers succeed in catapulting bitcoin over the levels of resistance to general costs? How are Altcoins placed? Let’s analyze the graphics to discover it.

Price analysis of the S&P 500 index

The S&P 500 index (SPX) is in corrective phase. The fall at 5,504 on March 13 sent the relative resistance index (RSI) to the territory of occurrence, signaling a possible short -term rescue rally.

The Bears will try to stop recovery in the resistance zone from 5,670 to 5,773. If they succeed, this will indicate that the feeling remains negative and that traders sell rallies. This increases the risk of falling to 5,400. Bulls should defend the level of 5,400 of all their forces because a fall below can flow the index to 5,100.

Uplining, rupture and closing over the 20-day exponential mobile average (5,780) will signal the force. The index can then climb to the 50 -day simple mobile average (5,938).

Price analysis of the US dollar index

The low rebound in the 103.37 support in the US dollar index (DXY) suggests that the bears have maintained the pressure.

The sellers try to pour the index below 103.37. If they can withdraw it, the decline could extend to 102 and subsequently at 101.

Conversely, if the price is revealed from the current level and exceeds 104, this will point out that buyers are trying to make a return. The index could reach the EMA of 20 days (105), which is likely to attract sellers. If buyers do not give up much land to be bears, the prospects for a break above the 20-day EMA increase. The index could then reach SMA of 50 days (107).

Bitcoin price analysis

Bitcoin has tried to form a lower short term, strengthening strength to cross the 200 -day SMA ($ 84,112).

The positive divergence on the RSI suggests that the lowering momentum is weakening. If buyers stimulate the price above the 20-day EMA ($ 85,808), the BTC / USDT pair could reach SMA of 50 days ($ 92,621).

Unlike this hypothesis, if the price drops sharply from SMA of 200 days, this will indicate that bears are trying to transform the level into resistance. The pair can slide at $ 80,000 and next to $ 76,606.

Ether price analysis

Ether (ETH) was negotiated between $ 1,963 and $ 1,821, reporting an aggressive lack of purchase at the current levels.

If the price decreases below the support area from $ 1,821 to $ 1,754, it will indicate the recovery of the downward trend. The ETH / USDT pair can then manage with the following significant support at $ 1,550.

This negative opinion will be invalidated in the short term if the price arises and moved above the EMA 20 days ($ 2,107). The pair could go up to SMA of 50 days ($ 2,514), where bears are likely to sell aggressively. However, if the Bulls pierce the 50 -day SMA resistance, the pair can be reset to $ 2,857.

XRP price analysis

XRP (XRP) is removed from SMA of 50 days ($ 2.51) on March 15, indicating that bears are active at higher levels.

The 20 -day EMA ($ 2.34) has flattened and the RSI is near the median point, indicating a balance between supply and demand. The XRP / USDT pair could be stuck between the SMA of 50 days and $ 2 for a while.

If the price appears from the current level and exceeds the SMA of 50 days, it will erase the path with a potential rally at $ 3. Instead, a break and a closure below $ 2 will complete a head and shoulder pattern. The pair can then increase to $ 1.28.

BNB price analysis

The BNB (BNB) appeared by the 20 -day EMA ($ 598) and exceeded the SMA of 50 days ($ 620), indicating that the correction can end.

The 20 -day EMA began to introduce itself, and the RSI has reached a positive territory, indicating a slight advantage for the bulls. If the price is supported above the 50-day SMA, the BNB / USDT pair could come together at $ 686 and possibly $ 745.

The 20 -day EMA is the critical support to be monitored when falling. A rupture and a closure below the 20 -day EMA will indicate that the bears have entered the control. The pair can then come down to a solid support at $ 500.

Solana price analysis

Solana (soil) is withdrawn from the 20 -day EMA ($ 139) on March 16, reporting that the Bears aggressively defend the level.

The floor / USDT pair could drop to $ 120 and then $ 110, where buyers should intervene. If the price bounces from the support area, the Bulls will again try to drive the ground / USDT pair above the 20-day EMA. If they manage to do so, the pair could climb $ 180.

This positive view will be invalidated in the short term if the price continues and breaks below the support area. This can start a movement down $ 100 and subsequently at $ 80.

In relation: Ethereum onchain data suggest that the $ 2,000 ETH price is out of reach for the moment

Dogecoin price analysis

DOGECOIN (DOGE) has gradually increased towards EMA by 20 days ($ 0.19), which is a significant short -term resistance to monitor.

If the price drops sharply from the 20 -day EMA, this suggests that the Bears sell on each minor rally. This increases the risk of a break below the $ 0.14 support. If this happens, the Doge / USDT pair could dive at $ 0.10.

On the contrary, a rupture and a closure above the 20-day EMA indicates that the reduced sales pressure. The pair could reach the 50 -day SMA ($ 0.23) and later at $ 0.29. A break and a closure above $ 0.29 suggests that buyers are back in the driver’s seat.

Cardano price analysis

Cardano (ADA) has been traded below the 20 -day EMA ($ 0.76) since March 8, but the Bears have failed to pour the pair in the upward trend line. This suggests that the sale of dryers at lower levels.

Buyers will have to generate the price above moving averages to start a sustained recovery. The ADA / USDT pair could climb to $ 1.02, where the Bears can again set up a solid defense.

Unlike this hypothesis, if the price drop in mobile averages, it suggests that bears remain in control. This increases the probability of a drop below the trend line. If this happens, the pair can drop to $ 0.50.

PI price analysis

PI (PI) gradually slipped to the support of $ 1.23, which is likely to attract purchases from Bulls.

If the price bounces $ 1.23 with force, the PI / USDT pair could try to return to $ 1.80. Sellers are expected to make a strong challenge at $ 1.80, but if the Bulls prevail, the pair could come together at $ 2 and by $ 2.35.

Unlike, if the price drops by $ 1.80, it will signal beach training. The pair can swing between $ 1.23 and $ 1.80 for a while. Sellers will strengthen their position on a break below $ 1.23. The pair can then collapse at the level of retracement of 78.6% of $ 0.72.

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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