Price analysis 1/3: BTC, ETH, ADA, BNB, DOT, XRP, LTC, LINK, XLM, BCH

The U.S. bond yields take softened and this has ignited investor'due south appetite for take a chance-on avails. After a negative closing terminal week, the S&P 500 has started the current week on a positive notation. Thi bullish sentiment has too rubbed on to the crypto sector, which is surging college, led by Bitcoin (BTC).

Afterwards Tesla and Mastercard's foray into Bitcoin, analysts at Citigroup believe that Bitcoin is at a "tipping point," which could either take it mainstream and arrive the preferred currency for world trade or effect in a "speculative implosion."

Citi'southward analysts await the central banking concern digital currencies and the fiat-pegged stablecoins to be positive for Bitcoin'south adoption.

*Daily cryptocurrency market operation. Source:* *Coin360*

While several investors accept been worrying most a deeper correction in Bitcoin, MicroStrategy CEO Michael Saylor seems unfazed. Saylor announced that MicroStrategy added some other $15 one thousand thousand worth of Bitcoin to its purse, taking its full holding to 90,859 coins which were purchased at an average toll of $24,063 per money.

Still, not everyone is bullish on Bitcoin. 'Big Short' investor Michael Burry believes that Bitcoin is in a speculative bubble at the electric current levels and may witness a precipitous autumn that "volition be dramatic and painful."

Let's analyze the charts of the top-10 cryptocurrencies to determine whether the uptrend has resumed or if the current upwardly-move is simply a dead true cat bounce.

BTC/USD

Bitcoin dipped to an intraday low at $43,006.77 on Feb. 28 and the long tail on the day'southward candlestick suggests the bulls used the fall to accumulate at lower levels. The buyers are currently trying to sustain the toll above the 20-day exponential moving boilerplate ($47,711).

If they succeed, the BTC/USD pair could be on target to rally to $52,000. The bears are again probable to mountain a strong resistance at this level. If the toll turns down from this resistance, the pair could consolidate between $43,000 and $52,000 for the next few days.

The flat moving averages and the relative forcefulness index (RSI) higher up 55 too indicate to a possible range-leap action in the near term.

Yet, if the bullish momentum picks up and the buyers push the toll above $52,000, a retest of the all-time loftier at $58,341.03 is possible. This bullish view will invalidate if the pair turns down and breaks below the 50-twenty-four hour period simple moving average ($41,313). Such a motion could signal the start of a deeper correction to $28,850.

ETH/USD

Ether's (ETH) slide below the moving averages shows that it is in a cosmetic phase. Simply the long tail on the Feb. 28 candlestick shows that the bulls are attempting to defend the 38.2% Fibonacci retracement level at $1,413.

The bulls are currently attempting to build up on the recovery and sustain the price above the fifty-twenty-four hours SMA ($1,509). If they succeed, the next end is likely to be the 20-mean solar day EMA ($1,624), which is likely to act every bit a potent hurdle.

In a correction, the bears try to sell on relief rallies to the 20-day EMA. If the ETH/USD pair turns down from the 20-day EMA, it will propose a negative sentiment. The bears will then try to sink the cost below $ane,289. If they succeed, the decline could extend to the 61.8% retracement level at $ane,026.

Reverse to this assumption, if the bulls can propel and sustain the price above the xx-mean solar day EMA, the pair may retest the all-time high at $two,049.

ADA/USD

The long wick on the Feb. 27 candlestick shows profit-booking near the psychological resistance at $1.fifty. However, the long tail on Cardano's (ADA) February. 28 candlestick suggests that bulls continue to accumulate at lower levels.

Although rising moving averages are a bullish sign, the negative deviation on the RSI indicates that the momentum may be weakening.

If the bears sink the price beneath $1.55, the ADA/USD pair could drop to the 20-day EMA ($ane.02). This is an important support to lookout out for considering a rebound off it will propose that traders keep to accumulate on dips.

A breakout of the $1.fifty resistance could get-go the next leg of the uptrend that may reach $1.83 and so $2. This bullish view will invalidate if the pair breaks below $0.98.

BNB/USD

Binance Money (BNB) bounced off the 20-24-hour interval EMA ($200) on Feb 28 and the bulls have pushed the price above the downtrend line. If the bulls can sustain the cost above the downtrend line, it will suggest the commencement of a relief rally.

The rise moving averages and the RSI in a higher place 61 suggest that bulls have the upper mitt. The first target on the upside is $281 and if that is crossed, the BNB/USD pair may rally to $309.4995.

Reverse to this assumption, if the price fails to sustain above the downtrend line, information technology will suggest that traders who are stuck at college levels are bailing out of their positions. The trend volition signal a deeper correction if the price turns down and breaks below the 20-24-hour interval EMA.

DOT/USD

In an uptrend, traders buy the dips to the 20-twenty-four hour period EMA every bit it offers a low-run a risk entry opportunity. Therefore, Polkadot'southward (DOT) current bounciness off the 20-24-hour interval EMA ($31) suggests the uptrend remains intact.

Both moving averages are sloping up and the RSI is above 64, indicating the path of least resistance is to the upside. If the bulls tin can drive the cost above $35.6618, the DOT/USD pair may rally to $42.2848.

This bullish view may invalidate if the price turns downwardly from the overhead resistance and breaks below the 20-twenty-four hour period EMA. Such a movement volition suggest that traders are using the relief rallies to lighten upwards their long positions.

XRP/USD

The bulls are attempting to defend the 50-day SMA ($0.forty). If the electric current bounce sustains, the buyers will try to push XRP higher up $0.50. If that happens, the altcoin could first its journey to $0.65.

However, the bulls are unlikely to have information technology piece of cake because the downsloping xx-day EMA ($0.472) and the RSI below 50 suggest that bears accept the upper mitt.

If the price turns down from the current levels or the overhead resistance at the twenty-day EMA, the bears volition try to sink the price beneath the 50-day SMA. If they succeed, the XRP/USD pair may driblet to $0.359. A break below this support could first a sharper decline to $0.25.

LTC/USD

Litecoin (LTC) broke beneath the 50-day SMA ($166) and dipped to the uptrend line on Feb. 28, but the long tail on the twenty-four hours'south candlestick shows stiff ownership at lower levels. The bulls are currently trying to push the price towards the $185.58 overhead resistance.

They are likely to meet stiff resistance from the bears at the 20-twenty-four hour period EMA ($186). If the price turns down from this resistance, the bears will make ane more try to sink the LTC/USD pair below the uptrend line. If they tin can manage to do that, a drop to $120 is likely.

On the other hand, if the bulls tin can propel the price above the 20-twenty-four hour period EMA, the pair could rally to $205 and so to $240.

LINK/USD

The bulls are trying to stall the correction at the 50-solar day SMA ($25.26). Although the toll dipped below the l-day SMA on February. 28, the long tail on the candlestick suggests ownership at lower levels. Chainlink (LINK) is currently attempting to outset a relief rally.

If the bulls can button the price above the xx-day EMA ($27.98) and the $29.33 overhead resistance, it will suggest that the correction may be over. The LINK/USD pair could and then rally to $34 and then to the all-time high at $36.93.

On the contrary, if the price turns downwardly from the overhead resistance, the bears volition try to sink and sustain the pair below the 50-24-hour interval SMA. If that happens, a driblet to $20.xi is possible.

XLM/USD

Stellar Lumens (XLM) broke above the xx-twenty-four hour period EMA ($0.428) on February. 27, only the bulls could non push the price to a higher place the resistance line of the descending channel. This suggests that need dries upwardly at higher levels.

Nonetheless, the positive sign is that the bulls have successfully dedicated the fifty-mean solar day SMA ($0.369) on Feb. 28. If the XLM/USD pair rises above the 20-day EMA, the bulls volition make one more effort to drive the cost in a higher place the aqueduct. If they succeed, the pair could rally to $0.50.

On the other hand, if the price turns downward from the twenty-day EMA, the pair may once more drop to the 50-24-hour interval SMA. The apartment moving averages and the RSI near the midpoint advise a few days of range-bound action.

BCH/USD

Bitcoin Cash (BCH) broke below the uptrend line on February. 28, simply the bulls purchased the dip as seen from the long tail on the twenty-four hour period's candlestick. If the current rebound sustains, the bulls will endeavour to commencement a relief rally that may reach the xx-twenty-four hour period EMA ($551).

The bears are probable to defend the 20-mean solar day EMA and if the toll turns down from this resistance, it volition suggest that the sentiment remains negative. A break below the uptrend line could event in a autumn to $370.

Both moving averages have started to plough down and the RSI is in the negative territory, indicating reward to the bears. Notwithstanding, if the bulls tin can push and sustain the cost above the 20-day EMA, the BCH/USD pair could rising to $631.71.

The views and opinions expressed here are solely those of the author and do not necessarily reverberate the views of Cointelegraph. Every investment and trading motility involves chance. You lot should carry your ain research when making a decision.

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