In this article, as Kriptokoin.com, we will include analyst Rakesh Upadhyay’s predictions about BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE and DOT cryptocurrencies. We would like to bring to your attention that the realization of the analyst’s predictions is not certain and each investor is responsible for doing their own research.
BTC predictions
Bitcoin seems to be losing momentum and altcoins are holding up, but bulls holding key support levels could signal a continuation of the rally after a short pause. Speculation on the Fed’s tightening cycle and recent geopolitical developments may have caused panic selling by short-term traders. Analysis from Glassnode suggested that traders who bought Bitcoin (BTC) near the November 2021 peak have liquidated their positions in the past two and a half months. Will demand remain intact at higher levels and could the recovery stretch further in the next few days? Let’s examine the charts of the top 10 cryptocurrencies to find out.
BTC/USDT. Bitcoin’s recovery has reached the overhead resistance zone between $45,821 and the resistance line of the ascending channel. Bears are expected to defend the area strongly. The 20-day exponential moving average ($40,797) (EMA) has started to rise and the relative strength index (RSI) is in the positive territory, indicating an advantage for buyers. If the bulls stop the next drop at the 20-day EMA, a break above the channel will increase the likelihood. If this happens, the BTC/USDT pair could rally to $52,088.
Bitcoin (BTC) followers ETH and BNB predictions
ETH/USDT. Ether (ETH) broke and closed above the 50-day simple moving average (SMA) ($2,860) on Feb. 28, suggesting that the bulls are trying to make a comeback. The moving averages are close to completing the bullish crossover and the RSI is in the positive zone, indicating the path of least resistance to the upside. If the price bounces back from the 20-day EMA ($2,824), it will show that the bulls are buying on every small dip. The ETH/USDT pair could then rise to the resistance line of the symmetrical triangle pattern. The bears are likely to defend this level aggressively, but if the bulls break this barrier, the pair could start a new uptrend.
BNB/USDT. BNB broke above the 50-day SMA ($406) on March 1, but the long wick on the candlestick indicates selling at higher levels. The bulls pushed the price back above the 50-day SMA on March 2 but are struggling to sustain higher levels. it shows that the bears are trying to defend the 50-day SMA. If the price drops from the current level but fails to break below the 20-day EMA ($391), it indicates that the bulls are buying on the dips. This will raise expectations for a breakout and a close above the 50-day SMA. If this happens, the BNB/USDT pair could rise to the overhead resistance at $445.
XRP and LUNA last appearance
XRP/USDT. Ripple (XRP) rallied to the downtrend line on February 28, when the bears formed a strong defense. The price broke from the downtrend line and can now drop to the 50-day SMA ($0.72). The flat moving averages and the RSI near the midpoint suggest a balance between supply and demand. If the XRP/USDT pair rises and continues above the downtrend line, this balance will shift in favor of the buyers. The pair could rally higher towards $0.85 and later to $0.91. Conversely, if the price dips below the 50-day SMA, it will indicate that higher levels continue to witness strong selling.
LUNA/USDT. The bulls have been trying to keep Terra’s LUNA token above the overhead resistance at $94 for the past two days, but the bears didn’t let that happen. The moving averages have completed a bullish crossover that has given buyers an advantage. However, the RSI in the overbought zone indicates that the rally may be prolonged in the short term. Failing to push and sustain the price above $94 could attract short-term traders to book profits. This could drive the price down to $80. If the price bounces back from this level, it indicates that the sentiment is positive and traders are buying on the dips. The bulls will then attempt to clear the overall hurdle at $94.
Latest estimates for SOL and ADA
SOL/USDT. Solana (SOL) broke above the 20-day EMA ($95) on February 28 and successfully retested on March 1. The bulls are trying to push the price above the 50-day SMA ($106). If they are successful, the rally could extend to $122. The 20-day EMA has flattened and the RSI has rallied into the positive zone, which indicates the bulls are in a reversal. If the bulls force and sustain the price above $122, the SOL/USDT pair will complete the double bottom pattern. The pair could rally to $163 later. This bullish view will be invalidated in the short term if the price drops and breaks below the 20-day EMA.
ADA/USDT. Cardano (ADA) has reached the breakout level at $1. This is an important level to defend for the bears as a break and close above it will show the markets rejecting the lower levels. The flat moving averages and the RSI just below the midpoint suggest that the bears may be losing control. If the bulls push and sustain the price above $1, the ADA/USDT pair could rally towards the resistance line of the channel. A break and close above the channel will suggest a possible change in trend. The pair could later rise to the overhead resistance at $1.60.
AVAX and next levels for DOT
AVAX/USDT. AVAX broke above the moving averages on February 28 and hit the downtrend line of the descending channel on March 1. The bears are trying to maintain this level as they have done three times before. If the price drops from the current level but does not fall below the moving averages, it suggests that the sentiment may have changed from selling on rallies to buying on dips. The bulls will then make an attempt to hold and sustain the price above the channel. If they are successful, it will signal a possible change in trend. The AVAX/USDT pair could rally to $100 later.
DOT/USDT. Polkadot (DOT) broke and closed above the 20-day EMA ($18) on Feb. 28, but the bulls failed to break through the overall hurdle at the 50-day SMA ($20). This indicates that the bears continue to sell at higher levels. The 20-day EMA has flattened out and the RSI is just above the midpoint, indicating possible range-bound action in the near term. If the buyers push the price above the 50-day SMA, the DOT/USDT pair could rally to $23. Contrary to this assumption, if the price drops from the current level and breaks below the 20-day EMA, the pair could retest the strong support zone at $16 to $14
DOGE forecast
DOGE/USDT. Dogecoin (DOGE) rebounded sharply from the $0.12 support on Feb. 28, showing that the bulls are aggressively defending the level. The relief rally is facing resistance at the 20-day EMA ($0.13), which indicates that the bears have not given up yet and continue to sell on the rallies. If the price declines from the moving averages, the DOGE/USDT pair could drop to $0.12. This is an important level for the bulls to defend, as a break below it could push the pair towards the psychological support at $0.10.
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