With Bitcoin burning its first green candle after a three-month series of red candles, crypto analysts are looking for the critical technical levels of March. In this article, we have compiled the recent altcoin analyzes of 2 Twitter analysts. Details are on Kriptokoin.com.
Analysts shared 4 potential altcoin projects
Initial analyst Jason Pizzino listed three altcoin projects that he expects to perform relatively well in March. For Ethereum rival Terra (LUNA), Pizzino says its stablecoin smart contract-enabled Blockchain platform is gaining strength. The analyst adds that LUNA is currently above the 50% Fibonacci retracement level used to identify support or resistance, after rebounding from a recent higher low:
I love LUNA. It shows over 50% power. Higher low has also been shown. It crossed the next 50% range. It seems to be trying to consolidate above the previous lower swing top…
Next up, Cosmos (ATOM), a Blockchain ecosystem designed for scalability and interoperability. According to the crypto analyst, ATOM may consolidate before making a big move:
ATOM fell from its double top, but has now found support at previous lows around $20-21 and climbed above $32 highs. So it really shows strength again…
Next up is Near (NEAR), a layer Ethereum challenger designed to be scalable and user friendly. Pizzino says NEAR has broken above the 50% Fibonacci retracement level from the recent low.
NEAR also climbed over 50% again. So far these all seem pretty strong. For me the low risk trade would go above $14, the rewards would be lower as you would buy at a higher price. But at least this one is in a stronger position.
Justin Bennett watches a significant high on the Ethereum chart
According to second analyst Justin Bennett, investors are looking to see if Ethereum (ETH) can break a significant level against Bitcoin (BTC) in the near future. should watch. Bennett said recent trend lines indicate that Ethereum needs to rise above 0.073 Bitcoin ($3,193.68) for it to start outpacing BTC in the next few months. On the other hand, according to Bennett, if ETH closes below 0.065555 BTC ($2,867.97), it could possibly drop as low as 0.063 BTC ($2756.19). The analyst adds that the next key area Ethereum will hit if it breaks out in March is $3,200:
We’ve seen lower lows over the past few months. It will take the first high to truly push the market to potentially $3,600 this month.
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