ADAUSD – Price analysis on 3/21: BTC, ETH, XRP, BNB, SOL, ADA, DOGE, TON, LINK, LEO.

Bitcoin’s recovery seems to be facing resistance from sellers, suggesting that the bears are still active in the market. According to Material Indicators, “Spoofy the Whale” has been suppressing Bitcoin’s price below $87,500. Despite this, some analysts remain optimistic, with BitMEX co-founder Arthur Hayes speculating that Bitcoin may have hit a bottom at $77,000, particularly due to the Federal Reserve’s decision to slow quantitative tightening from April onwards.

There is hope for Bitcoin’s future, with BlackRock’s head of digital assets, Robbie Mitchnick, suggesting that a recession could serve as a bullish catalyst for the cryptocurrency. Mitchnick mentioned that the firm’s long-term Bitcoin accumulator clients see the current economic challenges as a buying opportunity rather than a cause for concern.

The possibility of Bitcoin forming a higher low in the near term and breaking above the $87,500 barrier remains, sparking curiosity about its impact on altcoin buying. To gain more insights, let’s delve into the price analyses of the top 10 cryptocurrencies.

Bitcoin recently surpassed the 20-day exponential moving average ($85,332) on March 19 but failed to sustain this momentum due to resistance from bears. If the price breaches the uptrend line, the BTC/USDT pair could drop to $80,000 and possibly to $76,606, with a strong buying potential between $76,606 and $73,777. Conversely, breaking above $87,500 may propel the pair to higher levels, potentially hitting $95,000 and even surpassing the critical $100,000 mark.

Moving on to Ether, its recovery met resistance at the 20-day exponential moving average ($2,076), indicative of bearish activity at higher levels. A break below $1,927 could lead the ETH/USDT pair to $1,800, with potential support at $1,750 to $1,800. Conversely, surpassing the breakdown level of $2,111 could pave the way for a rally towards the 50-day SMA ($2,420) and potentially $2,850.

In the case of XRP, the cryptocurrency saw some bullish momentum but faced challenges sustaining it, with the price hovering below the 20-day EMA ($2.36). A break below this level could drive the XRP/USDT pair towards $2.22 and then to critical support at $2. Conversely, rebounding off the 20-day EMA could lead to a move towards the resistance line.

BNB’s pullback found support at the 20-day EMA ($608), suggesting buying interest at lower levels. An upward movement above $644 could signal a potential rally to $686, with resistance likely at this level. Conversely, a break below the 20-day EMA might lead to a decline to $550.

Solana retreated from the 20-day EMA ($135), suggesting bearish sentiment driving minor relief rallies. The SOL/USDT pair might slip to $120 and potentially to $110, where buyers are anticipated to step in. Rebounding from this support level could push the pair towards the 50-day SMA ($163), while a break below $110 could resume the downtrend to $98 and eventually $80.

The crypto market remains dynamic, with Cardano facing resistance at moving averages, while Dogecoin struggles to break above its 20-day EMA ($0.18). These trends set the stage for continued volatility and uncertainty in the cryptocurrency market.