Price analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 09, 2022

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Last Updated March 9th 2022
7 Min Read

Bitcoin and most altcoins were in a breakout on March 9th, signalling a possible short-term bull run. 

The cryptocurrency market was in a breakout on March 8th. Bitcoin rallied through the $40k mark and pulled most altcoins along. Buying volumes were still high across the market on March 9th, indicating that buyers could remain in control in the short term. 

The big question now is, can crypto majors sustain the current upside momentum? Let's analyze the top-10 cryptos to try and find out where the market could go next. 

BTC/USD

Bitcoin (BTC) was in a bullish breakout on March 8th and sustained upside momentum on March 9th. However, bulls seem to be facing some resistance at $41,681.81, a price level where Bitcoin bulls last failed on March 4th. 

BTC/USD daily chart 030922

BTC/USD daily chart. Source: TradingView

If Bitcoin bulls overcome the wall of sellers around $41,681.81, they could easily push Bitcoin to a short-term target of $44,000. It is the price level where Bitcoin last faced major resistance on March 3rd. 

However, if bears overcome buyers at $41,681.81, they could easily drive the price back to $38,899.28 on the 100-day MA. If sellers can overcome the pressure from buyers at $38,899.28, then the short-term downside target would be at $37,310, the price where BTC last bounced off on March 7th.

Related: Bitcoin (BTC) Price Prediction

ETH/USD

Like Bitcoin, Ethereum (ETH) broke out on March 8th, and upside momentum continues on March 9th. The 20-day MA has also cut the 50-day and 100-day moving averages from below, a signal of strengthening bullish momentum. 

ETH/USD daily chart 030922

ETH/USD daily chart. Source: TradingView

If Ethereum bulls sustain upside momentum, they can expect to encounter a wave of sellers at $2928.28, a price level where Ethereum last encountered resistance on March 3rd. If bulls can break through the wave of sellers at $2928.28, the key short-term target for Ethereum would be $3100.

However, if bears take control and cancel out the gains Ethereum has made since March 8th, they can also expect serious opposition from buyers at $2597.63 on the 100-day MA. If short sellers can overpower buyers at $2597.63, the short-term downside target would be at $2461.89, an area where ETH has faced significant support in the last 48-hours. 

Related: Ethereum (ETH) Price Prediction

SOL/USD

Solana (SOL) was in a breakout on March 8th and has sustained upside momentum on March 9th. With the 20-day MA now cutting the 50-day MA from below, it is clear that bulls are clearly in control. 

SOL/USD daily chart 030922

SOL/USD daily chart. Source: TradingView

If bulls sustain the current upside momentum, they can expect to face many bears at $90.53, a price level where SOL bulls last faced major resistance on March 5th and lost. If bulls can overcome the $90.53 resistance, the short-term target would be at $100. 

However, if bulls can't push SOL through the $90.53 resistance and bears take the market, the price could drop to $85.54 on the 100-day MA. If bears are strong enough to break through the wave of buyers at $85.54, Solana's short-term downside target would be $81.11. It's a price level where bears have failed twice in the last 72-hours. 

Related: Solana (SOL) Price Prediction

BNB/USD

After consolidating all through March 7th, Binance Coin (BNB) was in a bullish breakout on March 8th. It is currently gaining bullish momentum, and with the 50-day MA cutting the 100-day MA from below, bulls are clearly in control. 

BNB/USD daily chart 030922

BNB/USD daily chart. Source: TradingView

If buying volumes continue to rise, bears are expected to put up a strong fight at $402.5, the highest price level that BNB has hit since March 8th. Overpowering bears at $402.5 could easily see BNB test $410 in the short term. 

However, if BNB bulls are overpowered by bears at $402.5 and fail to retest it, bears can expect bulls to fight hard at $387.2, a price level that was major resistance before the breakout, but now support. If bears can overcome the wave of buyers that could flock in at $387.2, they can expect an even harder time on the 50-day MA at $377.3. If bears are strong enough to break the $377.3 support, then $365.6 would come into focus in the short term. 

Related: Binance Coin (BNB) Price Predictions

XRP/USD

XRP (XRP) was in a bullish breakout on March 8th, after breaking through a wall of resistance at $0.7294 and $0.8341 on the 50-day and 100-day moving averages respectively. Bulls are still in control, but XRP is now consolidating below the day's high of $0.7510.

XRP/USD daily chart 030922

XRP/USD daily chart. Source: TradingView

If bulls sustain momentum, they can expect significant pressure from bears at $0.7510. However, if they can overpower bears at $0.7510, $0.79 would come into focus in the short term.

On the other hand, if bulls fail at $0.7510, bears could drive the price down to the 100-day MA at $0.7341, where bulls are likely to put up a fight. If bulls are beaten at $0.7341, then $0.70 could be the first target in the short term.  

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) was in a breakout on March 8th. The upside momentum continues on March 9th, and ADA has broken through the 100-day MA resistance at $0.8290. The 20-day MA is also approaching the 50-day MA from below, indicating that the price of the ADA is moving up at an accelerated rate.

ADA/USD daily chart 030922

ADA/USD daily chart. Source: TradingView

If bulls sustain momentum, they can expect a major pushback from bears at $0.871. This was an area of major resistance on March 5th and is likely to give bulls a hard time again in the short term. However, if bulls can overcome the selling pressure at $0.871, $0.94 would be the first target in the short term.

On the other hand, if bullish volumes drop and sellers regain control of the market, they can expect to encounter a wall of buyers at $0.83 on the 100-day MA. If bears can break through $0.830, they could face even higher pressure from buyers at $0.810 on the 50-day MA. Breaking through the 50-day MA would bring $0.76 into focus in the short term. 

Related: Cardano (ADA) Price Predictions

AVAX/USD

Avalanche (AVAX) was in a breakout on March 8th. The upside momentum is still strong on March 9th. The 20-day MA is crossing the 100-day MA from below, indicating that the upside pressure on the price is getting stronger. 

AVAX/USD daily chart 030922

AVAX/USD daily chart. Source: TradingView

If buyers sustain the current momentum, they can expect some resistance at $80.41; the highest price AVAX hit on March 9th. If buyers can fight off the bearish onslaught at $80.41, $88.95, a price AVAX last hit on March 2nd would be the short-term target. 

However, if bulls lose it to the sellers at $80.41, bears can expect a huge fight from buyers at $74.48 on the 100-day MA. 

If bears can overpower buyers at $74.48, the short-term downside target for AVAX would be $70.

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Most altcoins are in a bullish breakout, but Terra (LUNA) is one of those that have the most momentum. LUNA is making higher lows after the breakout on March 8th, and buying volumes are pretty high. The 20-day MA has also cut through the 50-day and 100-day moving averages and is accelerating upwards, indicative of fast-rising upside momentum. 

LUNA/USD daily chart 030922

LUNA/USD daily chart. Source: TradingView

If bulls sustain momentum, they can expect to face a major fight at the day's high of $96.91. It's also the price where bulls lost momentum after a similar rally on February 28th. If bulls can fight off the bearish onslaught at $96.91, then $110 would be the key target short term. 

However, if bears gain control at $96.91 and drive the price lower, they can expect to fight bulls at $87.67, a major resistance level in the consolidation period of the last few days. If bears can beat bulls at $87.67, $82.64 on the 100-day MA would be the key downside target in the short term. 

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) was in a breakout on March 8th, and upside momentum was rising on March 9th. Dogecoin has already broken major resistance at $0.128 on the 100-day MA and high volumes.

DOGE/USD daily chart 030922

DOGE/USD daily chart. Source: TradingView

If bulls sustain the current momentum, they can expect to face off with bears at $0.1230, an area where it has also experienced major resistance in the past week. If bears take control, they can expect an even bigger wave of buyers at $0.128 on the 100-day MA. If bears overcome buyers at $0.128, the short-term target would be $0.1187 on the 50-day MA.

However, if bulls overcome the wall of sellers at $0.1230, the short-term target would be at $0.1279, a level where DOGE experienced significant resistance on March 4th. Breaking this resistance could see Dogecoin test prices above $0.134. 

Related: Dogecoin (DOGE) Price Predictions

SHIB/USD

Shiba Inu (SHIB) was in a bullish breakout on March 8th. This upside momentum was sustained on March 9th and broke through the 100-day MA $0.00002360.  

SHIB/USD daily chart 030922

SHIB/USD daily chart. Source: TradingView

If bulls can continue with the current upside momentum, bulls can expect resistance at $0.00002475, a price level where bulls failed on March 5th. If bulls can overcome sellers at $0.00002475, the short-term target would be $0.00002550. 

However, if bears overpower buyers at $0.00002475, they can expect to face a huge wall of buyers at $0.00002360 on the 100-day MA. If they overcome buyers at the 100-day MA, the short-term target would be $0.00002309 on the 50-day MA. 

Related: Shiba Inu (SHIB) Price Predictions