Price analysis 3/13: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIB, AVAX, TON
Contrary to this assumption, if the price turns down and breaks below $70,000, the pair may drop to the channel’s support line. The selling could accelerate if the bears sink the price below the channel. The pair may fall to $59,000 and subsequently to the 50-day simple moving average ($53,099).
Ether price analysis
The bears pulled Ether
ETH
$3,915
below the psychological level of $4,000 on March 12, but the long tail on the day’s candlestick shows that every dip is being viewed as a buying opportunity.
ETH/USDT daily chart. Source: TradingView
The buyers are trying to drive the price above the immediate resistance of $4,100. If they can pull it off, the ETH/USDT pair could start the next leg of the uptrend. The pair could ascend to $4,372 and eventually to $4,868.
A minor risk to the continuation of the rally is that the RSI has been trading in the overbought zone for the past several days. That suggests the rally is overheated, and a minor correction or consolidation is possible. The critical support to watch on the downside is $3,600.
BNB price analysis
BNB
BNB
$602
picked up momentum after breaking above $460 and has been cruising higher since then. This suggests a strong demand at higher levels.
Cardano price analysis
Cardano
ADA$0.77
rebounded sharply off the $0.68 support on March 11, but the bulls could not maintain the momentum and overcome the roadblock at $0.80.
ADA/USDT daily chart. Source: TradingView
The long tail on the March 12 candlestick shows that the bulls are aggressively buying the dips to the 20-day EMA ($0.70). This increases the possibility of a break above $0.80. If that happens, the ADA/USDT pair could rise to $0.90.
This positive view will be invalidated in the near term if the price turns down sharply and plummets below $0.68. That will suggest the bulls have given up and are rushing to the exit. The pair may then tumble to the 50-day SMA ($0.60).
Dogecoin price analysis
The bulls have failed to push and maintain Dogecoin
DOGE$0.18
above the $0.18 resistance in the past few days, but a positive sign is that they have kept up the pressure.
DOGE/USDT daily chart. Source: TradingView
The rising 20-day EMA ($0.15) and the RSI in the positive territory suggest the path of least resistance is to the upside. If buyers sustain the price above $0.18, the DOGE/USDT pair could rally to $0.21. This level may act as a barrier again, but if cleared, the pair could start its journey to $0.24 and then $0.30.
The bears will have to yank the price below $0.14 to get back into the game. The pair could then drop to $0.12 and subsequently to the 50-day SMA ($0.10).
