Bitcoin is back in the spotlight, surging above the 200-day simple moving average (SMA) of $83,754. This move suggests that the bulls are gearing up for a comeback, leaving bears scrambling as selling pressure fades at lower levels. But hold on to your hats, crypto enthusiasts—Bitcoin’s journey isn’t over yet.
Crypto analyst Matthew Hyland has thrown down the gauntlet, stating that Bitcoin needs a weekly close above $89,000 to confirm a bottom. If Bitcoin can break this barrier, it could trigger a massive liquidation of $1.60 billion in short positions, according to CoinGlass data. However, if Bitcoin fails to breach this level, Hyland warns of a potential dip into the $74,000 to $69,000 range.
The bulls have their work cut out for them. Despite an influx of $13.3 million into US spot Bitcoin exchange-traded funds (ETFs) on March 12, the momentum couldn’t hold. The very next day saw outflows of $135.2 million, as reported by Farside Investors. This indicates that investors are still jittery, especially with new tariff threats and actions by US President Donald Trump looming.
Could Bitcoin defy the odds and skyrocket to $100,000, taking select altcoins along for the ride? Let’s dive into the charts of the top 10 cryptocurrencies to uncover the possibilities.
### Bitcoin Price Analysis
The Bitcoin bulls are on a mission to spark a recovery but face stiff resistance between the 200-day SMA and the 20-day exponential moving average (EMA) at $86,717. If buyers can push the price above the 20-day EMA, it might signal that the dip below the 200-day SMA was just a bear trap. This could propel the BTC/USDT pair to the 50-day SMA at $93,876 and potentially to the psychological milestone of $100,000.
On the flip side, if Bitcoin falters at this resistance zone, it could indicate that the bears are still in control. This scenario might lead to a drop to the crucial support level at $73,777. A breach below this could drag the pair down to $67,000.
### Ether Price Analysis
Ether (ETH) is locked in a tight range between $1,963 and $1,754, with bulls and bears battling it out. The relative strength index (RSI) hints at a positive divergence. If ETH climbs above $1,963, it could reach the breakdown level of $2,111. This level might attract aggressive selling by bears, but if bulls persist, ETH could rally to the 50-day SMA at $2,597.
However, if Ether turns down from $2,111 and breaks below $1,754, it could signal a resumption of the downtrend, potentially nosediving to $1,500.
### XRP Price Analysis
XRP bounced off the $2 support on March 11 and reached the 20-day EMA at $2.35 on March 13. The bears are trying to stall the recovery at this level, but bulls are keeping up the pressure. A break above the 20-day EMA could see XRP rise to $2.64 and potentially rally to $3.
Conversely, if XRP takes a sharp turn down from its current level, it suggests lingering negative sentiment. The pair may retest the crucial $2 support. If this level fails, XRP could complete a bearish head-and-shoulders pattern and sink to $1.28.
### BNB Price Analysis
BNB climbed above the 20-day EMA at $591 on March 13 but couldn’t sustain higher levels. Bulls are making another attempt to push BNB above this level. Success here could see BNB challenge the 50-day SMA at $624. A break above this would suggest that the correction is over and could lead to a rally to $686.
If bears want to halt this upward momentum, they’ll need to pull BNB below the $500 support. This could trigger a fall to $460, where aggressive buying is expected.
### Solana Price Analysis
Solana (SOL) is trading above $120 but struggling to break past $132. If SOL slips below $120, it could drop to $110—a critical support level. A break below this could start a downward move to $98 and then to $80.
On the upside, breaking above the 20-day EMA would suggest reduced selling pressure and could lead SOL to rally to the 50-day SMA at $178.
### Cardano Price Analysis
Cardano (ADA) faced rejection from the 20-day EMA at $0.77 on March 12 as bears sold on rallies. The ADA/USDT pair might drop to the uptrend line—a crucial level for bulls to defend. A bounce from here could improve prospects for a break above moving averages and a rise to $1.02.
This optimistic view will be invalidated if ADA breaks below the uptrend line, potentially sliding to $0.58 and then to an intraday low of $0.50.
### Dogecoin Price Analysis
Dogecoin (DOGE) bounced off its $0.14 support on March 11 as bulls tried to defend this level. The relief rally may face selling at the 20-day EMA at $0.19. A sharp turn down from here increases chances of breaking below $0.14 and plummeting DOGE to $0.10.
The first sign of strength would be breaking above the 20-day EMA, opening doors for a rally to the 50-day SMA at $0.24.
### Pi Price Analysis
Pi’s (PI) recovery hit a wall at $1.80 on March 13 as bears sold on minor rallies. Bears aim to sink PI to $1.20—a crucial level for potential range formation between $1.20 and $1.80.
If PI breaks below $1.20, it signals a downward move resumption with potential descent to a retracement level of $0.72.
### UNUS SED LEO Price Analysis
UNUS SED LEO (LEO) trades near its overhead resistance of $10 as bulls maintain pressure. A break above this completes a bullish ascending triangle pattern with a target of $12.04.
Bears will try pulling LEO down to its uptrend line—a key level for watching potential triangle continuation or breakdown.
### Chainlink Price Analysis
Chainlink (LINK) dipped below its descending channel pattern support on March 10 but couldn’t sustain lower levels. Bulls pushed LINK back into the channel on March 14 but face strong selling at the 20-day EMA at $15.14.
A turn down from here might see LINK fall below $11.85 and decline further to $10.
This article doesn’t offer investment advice or recommendations—always conduct your own research before making decisions in these volatile markets!
