Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 10, 2022

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Last Updated March 10th 2022
8 Min Read

Bitcoin and altcoins have broken key support levels on March 10th, signaling a potential selloff in the short term.

After a rally on March 9th, the cryptocurrency market started March 10th bearish. Bitcoin, the key market determinant, is currently struggling below the $40k mark, indicating that altcoins could be weak in the very short term. The big question now is, can crypto majors head much lower, or is a reversal in the offing? Let's analyze the top 10 cryptocurrencies to find this out.

BTC/USD

After a strong bullish rally on March 9th, Bitcoin (BTC) bears have taken control on March 10th. The selloff is quite strong, and bears have pushed Bitcoin through the 100-day MA support at $39,436.78.

BTC/USD daily chart 031022

BTC/USD daily chart. Source: TradingView

If sellers sustain the current momentum, they can expect to face a wall of buyers at $37,162.5, a price where Bitcoin bulls successfully fought off bears on March 7th. If this time around, bears can overcome the bullish onslaught at $37,162.5, Bitcoin's short-term target would be at $36100.

However, if bulls can fight off bears and push Bitcoin back above the 100-day at $39,436.78, they can expect an even bigger fight at $40,323.04. $45,000 could be a key short-term target if bulls win at $40,323.04.

Related: Bitcoin (BTC) Price Prediction

ETH/USD

Ethereum (ETH) was in a bullish rally on March 9th but turned bearish on March 10th. Bears have managed to push Ethereum through the 100-Day MA at $2610.18, and the selloff has been accelerating.

ETH/USD daily chart 031022

ETH/USD daily chart. Source: TradingView

If selling volumes increase, bears can expect to face a buyer's wall at $2445.06. This is the lowest price that Ethereum hit on March 7th, and where bulls successfully reversed the bearish trend. If bears manage to push Ethereum through the wall of buyers at $2445.06, the short-term target for Ethereum would be at $2395.01.

However, if bulls can reverse course and push Ethereum through the 100-day MA at $2610.18, bulls can expect a huge fight from bears at $2648.11 on the 50-day MA. If bulls can push Ethereum through the 50-day MA, the short-term target for ETH would be $2900.

Related: Ethereum (ETH) Price Prediction

SOL/USD

After a slight rally on March 9th, Solana was range-bound for the better part of the day. However, bears took control on March 10th, and selling volumes rose.

SOL/USD daily chart 031022

SOL/USD daily chart. Source: TradingView

If bears remain in control, they can expect to find a strong wall of buyers at $81.38, a price level where Solana bulls reversed a bearish wave on March 7th. If bears can break the potentially huge number of buyers at $81.38, Solana's short-term target would be at 78.

However, buyers can turn the wave; they can expect to encounter major resistance at the 50-day MA $85.38. If bulls can overcome the wave of buyers at $85.38, they can expect even more resistance from bears at $88.85. If broken, the short-term target would be $92.

Related: Solana (SOL) Price Prediction

BNB/USD

Binance coin (BNB) was bearish on March 9th, but a wave of sellers took over on March 10th. The selloff has accelerated, and bears have broken through both the 50-day MA and the 100-day MA.

BNB/USD daily chart 031022

BNB/USD daily chart. Source: TradingView

If bears can sustain momentum, they can expect to hit a wall of buyers at $367.5. If bears can overcome bulls at $367.5, the first target for BNB in the short term would be at $360.

However, if bulls can reverse course, they can expect to fight off a strong wave of short sellers at $383.1 on the 100-day MA. If they break through the 100-day MA, the 50-day MA could be the next wave of resistance at $388.4. If bulls break through the 50-day MA resistance, then $400 would be the short-term target.

Related: Binance Coin (BNB) Price Predictions

XRP/USD

Ripple (XRP) was in a bullish rally on March 9th. However, bears have taken control on March 10th. The XRP selloff is quite strong, and bears have pushed XRP through both the 50-day MA, and the 100-day MA support levels at 100-day MA support at $0.7411 and $0.7371, respectively.

XRP/USD daily chart 031022

XRP/USD daily chart. Source: TradingView

If sellers sustain the current momentum, they can expect to face a wall of buyers at $0.7174, a price where XRP bulls successfully fought off bears on March 8th. If this time around, bears can overcome the bullish onslaught at $0.7174, XRP's short-term target would be at $0.6938.

However, if bulls can fight off bears and push Bitcoin back above the 50-day MA at $0.7411, they can expect an even bigger fight at $0.7481, a price where XRP has faced major resistance in the past week. If they win at this price level, $0.7795 could be a key short-term target.

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) like the rest of the market, was bullish on March 9th before turning strongly bearish on March 10th. The Cardano selloff is quite strong, and not only has Cardano pushed through the 50-day support at $0.823, but the 100-day MA is also approaching the 50-day MA from above, indicating increasing selling volumes.

ADA/USD daily chart 031022

ADA/USD daily chart. Source: TradingView

If sellers sustain the current momentum, they can expect to face a wall of buyers at $0.784, a price where Cardano bulls successfully fought off bears on March 7th. If this time around, bears can overcome the bearish onslaught at $0.784, Cardano's short-term target would be at $0.763.

However, if bulls can fight off the bear onslaught and push Cardano back above the 50-day MA at $0.823, they can expect an even bigger fight at $0.862, the price where the March 10th bear run started. If bulls can overpower bears at $0.862, the key short-term target for Cardano would be at $0.887. 

Related: Cardano (ADA) Price Predictions

AVAX/USD

After a strong bullish rally on March 9th, Avalanche (AVAX) was in a slow bleed in early March 10th trading before turning strongly bearish. The AVAX selloff has seen it break through the 100-day MA support at $74.53, though selling volumes have slowed down.

AVAX/USD daily chart 031022

AVAX/USD daily chart. Source: TradingView

If selling volumes increase, sellers can expect to face a fight from buyers at $70.91, a price where Avalanche bulls successfully fought off bears on March 7th. If this time around, bears can overcome bears at $70.91, Avalanche's short-term target would be at $68.81.

However, if bulls can fight off bears and push Avalanche back above the 100-day at $74.53, they can expect an even bigger fight at the March 9th high of $80.56. $82.84 could be a major short-term target if they win at this price level.

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) was one of the more bearish cryptocurrencies on March 9th. However, it has lost upside momentum like the rest of the market. It is currently in a correction, albeit with low volumes, and is now close to testing the 50-day MA support at $91.99.

LUNA/USD daily chart 031022

LUNA/USD daily chart. Source: TradingView

If sellers sustain the current momentum, they can expect to face a wall of buyers at $86.48 on the 100-day MA. If bears can overcome the bearish onslaught at $86.48, Terra's short-term target would be at $76.07, a price where it had a bullish reversal on March 7th.

However, if bulls can fight off bears and push LUNA back above the 20-day at $98.84, they can expect an even bigger fight from short sellers at the March 9th high of $104.77. If they win at this price level, $120 could be a key short-term target for LUNA.

Related: Terra (LUNA) Price Predictions

DOGE/USD

After a slight rally in the early part of March 9th, Dogecoin (DOGE) turned bearish and has been bearish up to this time. The Dogecoin selloff is quite strong, and bears have already pushed DOGE through multiple support levels, including the 50-day MA at $0.1197.

DOGE/USD daily chart 031022

DOGE/USD daily chart. Source: TradingView

If sellers sustain the current momentum, they can expect opposition from buyers at $0.1132, a price level where Dogecoin had a sharp reversal following a selloff on March 7th. If this time around, bears can overcome the bullish onslaught at $0.1132, Dogecoin's short-term target would be at $0.1111.

However, if bulls can fight off bears at $0.1157 and push Dogecoin back above the 50-day MA at $0.1197, they can expect an even bigger fight at $0.1246, the highest level it hit on March 9th. If bulls break the $0.1246 resistance, $0.1312 could be a key short-term bullish target.

Related: Dogecoin (DOGE) Price Predictions

SHIB/USD

Shiba Inu (SHIB) pumped in early March 9th before turning bearish. The selloff has continued on March 9th and is accelerating after SHIB broke through the intersection of two major moving averages, the 50-day and the 100-day moving averages at $0.00002351.

SHIB/USD daily chart 031022

SHIB/USD daily chart. Source: TradingView

If sellers sustain the current momentum, they can expect to face a fight from buyers at $0.00002219, a price where a bullish reversal happened on March 7th. If this time around, bears can overcome the bullish onslaught at $0.00002219, Shiba Inu's short-term target would be at $0.00002180.

However, if bulls can fight off bears and push Shiba Inu back above the 100-day at $0.00002351, they can expect an even bigger fight at $0.00002458, the highest level it hit on March 9th before bears took the market. If bulls win at this price level, $0.00002575 could be tested in the short term.

Related: Shiba Inu (SHIB) Price Predictions