Subscribe
CryptoWeb.xyz
No Result
View All Result
  • Home
  • News
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Home
  • News
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
No Result
View All Result
CryptoWeb.xyz
No Result
View All Result

Price Analysis Mar 25: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO

The White House and Senate leaders finally agreed to a massive stimulus of $2 trillion to support the economy and Americans who are suffering due to the COVID-19 pandemic. While the equity markets are celebrating with a rally, Binance CEO Changpeng Zhao has projected a bullish figure of $100,000 for each Bitcoin. Zhao believes that with most Bitcoin in the hand of long term holders, even if a small portion of the new stimulus flows into Bitcoin, a market capitalization of $2 trillion is achievable.

Trader Tone Vays sounded increasingly bullish on Bitcoin. He said that if Bitcoin breaks above $6,800, the possibility of it dropping to new lows below $3,800 reduces to 15%. “Going above $6,800 would maybe give me 85% confidence we’re not going to go below this,” Vays said.

Daily cryptocurrency market performance

Related articles

Rumor has it that Dogecoin could shift to proof-of-stake — What does that mean for miners?

5 altcoins that produced double-digit gains as Bitcoin price rallied in January

 Daily cryptocurrency market performance. Source: Coin360

While several nations are announcing stimulus measures to counter the slowdown due to the coronavirus pandemic, China’s central bank is working towards issuing its central bank digital currency (CBDC). A report by Global Times suggested that China has completed the development of the basic functions of the CBDC and is now drafting laws related to its use. Digital Renaissance Foundation managing director Cao Yan believes that a digital yuan will give the Chinese central bank a great tool to enact a zero or negative interest rate policy.

While several crypto enthusiasts are bullish on the future of cryptocurrencies, CEO and chief global strategist of Euro Pacific Capital Inc. Peter Schiff remains overwhelmingly critical of Bitcoin. Schiff recently tweeted: “Only fools are choosing Bitcoin.” 

BTC/USD

Bitcoin (BTC) broke and closed (UTC time) above the 20-day EMA on March 24, which triggered our buy suggested in the previous analysis. However, the bulls are struggling to sustain the price above the 20-day EMA, which is a bearish sign. 

BTC USD daily chart

BTC USD daily chart. Source: Tradingview

Currently, the bears are defending the $7,000 level while the bulls are attempting to keep the BTC/USD pair above the breakout level of $6,435. The 20-day EMA is flattening out and the RSI is just below the midpoint, which suggests a balance between buyers and sellers.

If the bulls can push the price above $7,000, a move to the 200-day SMA at $8,343 is possible. 

Conversely, if the price dips below $6,435 once again, a drop to $5,660.65 is possible. If this support also gives way, the next level to watch out for is $5,000. Therefore, the traders can keep a stop loss of $5,600 on the long positions.

ETH/USD

Ether (ETH) is trading close to the midpoint of the $117.090-$155.612 range. On the upside, the 20-day EMA is at $152.1, which is close to the resistance of the range. Hence, we expect the bears to defend this level aggressively.

ETH USD daily chart

ETH USD daily chart. Source: Tradingview

If the ETH/USD pair turns down from $155.612, a few more days of range-bound action is likely. However, if the bulls can break above $155.612, the pair is likely to start a new uptrend. Therefore, we retain the buy proposed in the previous analysis.

Our view will be invalidated if the pair turns down from the current levels or from the overhead resistance and plummets below $117.090. Below this level, a drop to $100 is likely.

XRP/USD

XRP is facing selling close to the resistance line of the descending channel. Above this level, we anticipate the bears to again mount a stiff resistance at $0.17468. The 20-day EMA is also just above this level at $0.175.

XRP USD daily chart

XRP USD daily chart. Source: Tradingview

If the XRP/USD pair turns down from the current levels or from the overhead resistance at the 20-day EMA, a drop to $0.144 is possible.

Conversely, if the bulls can push the price above the 20-day EMA, the pair is likely to attract buyers. Therefore, we retain the buy recommendation given in the previous analysis.

BCH/USD

Bitcoin Cash (BCH) has reached the resistance line of the descending channel where it is facing selling pressure. The 20-day EMA is also close to the resistance line, hence, the bears are likely to defend this level aggressively.

BCH USD daily chart

BCH USD daily chart. Source: Tradingview

If the price turns down from the current levels and breaks below $197.43, the BCH/USD pair can drop to $166.

However, if the bull can push the price above the channel and the 20-day EMA, it will signal a likely change in trend. Above the channel, a move to the 200-day SMA at $274 and above it to $350 is possible. 

Therefore, the traders can buy on a breakout and close (UTC time) above the channel and the 20-day EMA and keep an initial stop loss of $196.

BSV/USD

Bitcoin SV (BSV) broke above the descending channel on March 23 and scaled above the 20-day EMA on the next day. This triggered our buy suggested in the previous analysis. However, the bulls are struggling to sustain the price above the 20-day EMA, which is a negative sign.

BSV USD daily chart

BSV USD daily chart. Source: Tradingview

If the BSV/USD pair breaks below the 200-day SMA at $160.68, a drop to $146.96 is possible. If this level also fails to hold, the pair will re-enter the channel, which will indicate that the current breakout of the channel was a bear trap. Therefore, the traders can keep an initial stop loss of $146 on the long positions. 

However, if the pair rebounds off the 200-day SMA and breaks above $186, a move to $250 and above it to $326.8 is likely.

LTC/USD

Litecoin (LTC) continues to trade inside the descending channel. The bears are currently defending the resistance line of the channel. If the altcoin turns down and drops below $35.8582, a drop to $30 is possible. 

LTC USD daily chart

LTC USD daily chart. Source: Tradingview

Conversely, if the LTC/USD pair bounces off the $38.8015-$35.8582 range, the bulls will attempt to carry it above the 20-day EMA.

If successful, we expect the pair to start an up move that can reach the 200-day SMA at $55 and above it $63.8769. Therefore, traders can buy on a breakout and close (UTC time) above the 20-day EMA and keep a stop loss of $34.

EOS/USD

EOS continues to trade inside the $2.1624-$2.4001 range. However, we anticipate the altcoin to break out of this tight range and start a directional move soon. If the bulls can push the price above the range and the 20-day EMA at $2.52, an uptrend is possible. Therefore, we retain the buy suggested in the previous analysis.

EOS USD daily chart

EOS USD daily chart. Source: Tradingview

Contrary to our assumption, if the bulls fail to scale the EOS/USD pair above the overhead resistance, a few more days of consolidation is likely.

The trend will turn in favor of the bears if the price breaks below the range. A drop below $2.0632 can sink the pair to $1.7213.

BNB/USD

Binance Coin (BNB) has been trading close to $12.1111 for the past few days. The failure of the bulls to push the price above the 20-day EMA shows a lack of urgency to buy at higher levels.

BNB USD daily chart

BNB USD daily chart. Source: Tradingview

The 20-day EMA is sloping down and the RSI remains in the negative territory, which suggests that bears have the upper hand.

If the BNB/USD pair turns down from the current levels and slips below $10.8427, it can drop to $8.4422. We do not find any reliable buy setups on the pair, hence, we remain neutral on it.

XTZ/USD

Tezos (XTZ) has been trading inside an ascending triangle pattern near the recent lows. This is a bullish reversal pattern, which will complete if the price closes (UTC time) above the overhead resistance at $1.955.

XTZ USD daily chart

XTZ USD daily chart. Source: Tradingview

A breakout of the ascending triangle setup has a target objective of $2.9004. However, if the momentum is strong, the up move can extend to $3.30. Therefore, we retain the buy suggested in our previous analysis.

Contrary to our assumption, if the XTZ/USD pair turns down from the current levels or from the overhead resistance and breaks below the trendline of the triangle, it will invalidate the pattern. 

LEO/USD

UNUS SED LEO (LEO) has been consolidating near the resistance of the $0.9081-$1.04 range for the past three days. This is a positive sign and it increases the possibility of a breakout of the range.

LEO USD daily chart

LEO USD daily chart. Source: Tradingview

The 20-day EMA is sloping up and the RSI is in the positive territory, which suggests that bulls have the upper hand.

A break above $1.04 will complete a bullish inverse head and shoulders pattern. Hence, we retain the buy proposed in our previous analysis.

Our bullish view will be invalidated if the LEO/USD pair turns down from the current levels. If that happens, the pair will extend its stay inside the range.

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 risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Share122Tweet76Share31
Previous Post

Price Analysis Mar 23: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO

Next Post

Price Analysis Mar 27: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO

Related Posts

Rumor has it that Dogecoin could shift to proof-of-stake — What does that mean for miners?
Altcoin

Rumor has it that Dogecoin could shift to proof-of-stake — What does that mean for miners?

5 altcoins that produced double-digit gains as Bitcoin price rallied in January
Altcoin

5 altcoins that produced double-digit gains as Bitcoin price rallied in January

Why are crypto fans obsessed with micronations and seasteading?
Altcoin

Why are crypto fans obsessed with micronations and seasteading?

Bitcoin 7-month high ‘dominance’ has BTC price eyeing $25K — Will Ethereum spoil the rally?
Altcoin

Bitcoin 7-month high ‘dominance’ has BTC price eyeing $25K — Will Ethereum spoil the rally?

Millionaires flock to crypto: 82% sought investment advice in 2022
Altcoin

Millionaires flock to crypto: 82% sought investment advice in 2022

Price analysis 1/30: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT
Altcoin

Price analysis 1/30: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

ADS SIDE

More News

Bitcoin on-chain data and BTC’s recent price rally point to a healthier ecosystem

Bitcoin on-chain data and BTC’s recent price rally point to a healthier ecosystem

Blockchain provider SIMBA Chain awarded $30M by US Air Force STRATFI program

Blockchain provider SIMBA Chain awarded $30M by US Air Force STRATFI program

Crypto Experts are Saying These Altcoins Will be the Next Big Thing – Find Out Why

Crypto Experts are Saying These Altcoins Will be the Next Big Thing – Find Out Why

Rumor has it that Dogecoin could shift to proof-of-stake — What does that mean for miners?

Rumor has it that Dogecoin could shift to proof-of-stake — What does that mean for miners?

This Indicator of Bitcoin HOLDer Conviction Recently Hit a Record High – Here’s What That Means For BTC Price

This Indicator of Bitcoin HOLDer Conviction Recently Hit a Record High – Here’s What That Means For BTC Price

Grayscale Crypto Firm in Hot Water Again as New GBTC Lawsuit Filed by Osprey – Here’s What You Need to Know

Grayscale Crypto Firm in Hot Water Again as New GBTC Lawsuit Filed by Osprey – Here’s What You Need to Know

5 altcoins that produced double-digit gains as Bitcoin price rallied in January

5 altcoins that produced double-digit gains as Bitcoin price rallied in January

Cronos Labs to accept second cohort for $100M-backed Web3 accelerator program

Cronos Labs to accept second cohort for $100M-backed Web3 accelerator program

As Gala Price Explodes, These 3 New Altcoins Can 25x This Year

As Gala Price Explodes, These 3 New Altcoins Can 25x This Year

New Revelation: Australian Regulators Probed FTX Crypto Exchange Before Its Collapse – Here’s Why

New Revelation: Australian Regulators Probed FTX Crypto Exchange Before Its Collapse – Here’s Why

  • Advertise with us
  • Contact Us
  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Sitemap

© 2020 Copyright - All rights reserved.

No Result
View All Result
  • Home
  • News
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin

© 2020 Copyright - All rights reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT