Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 11, 2022

By
Last Updated March 11th 2022
8 Min Read

Bitcoin and major altcoins are still bearish, but selling volumes are dropping, signalling a potential bullish reversal. 

Cryptocurrencies are currently in a bearish channel, with many of them making lower highs. Bitcoin, the main market mover, is yet to push back through the $40k resistance, though volumes are low. The big question now is, will the selloff continue, or will crypto majors reverse and turn bullish again. Let’s analyze the top 10 cryptos to find out. 

BTC/USD

Bitcoin (BTC) was trading in a bearish channel on March 10th and continued on the same trajectory on March 11th. Not only is Bitcoin making lower highs, but it has also pushed through major support levels, key among them being the 100-day MA at $39,499.26. Currently, Bitcoin has made a lower higher at $38,873.56, and buying volumes are declining, pointing to a continuation of the bearish pattern.

BTC/USD daily chart 031122

BTC/USD daily chart. Source: TradingView

If Bitcoin bulls lose the fight at the $38,873.56 channel resistance, bears could easily push it all the way to $37,145.81. This is the lowest price Bitcoin tested on March 7th, before bulls pushed it to $42,599. If bears overcome the wall of buyers at $37145.81, $36,500 would be the short-term target. 

However, if bulls can push through the wall of sellers at $38,873.56, then it would mark the end of Bitcoin’s bearish channel. In such a case, bulls can expect some resistance at $39499.289 on the 100-day MA. The short-term target would be $40527 on the 50-day MA if they break this resistance. 

Related: Bitcoin (BTC) Price Prediction

ETH/USD

Ethereum (ETH) is in a bearish channel on March 11th. Ethereum is making lower highs, and early on March 11th, Ethereum bears managed to push through a wall of buyers at $2604.40 on the 100-day MA. Currently, Ethereum is trading at $2583.64, which is a lower high along a bearish trading channel.  

ETH/USD daily chart 031122

ETH/USD daily chart. Source: TradingView

If Ethereum bulls fail at $2583.64, bears can expect to struggle at $2523.67. This is a price level where Ethereum bears have struggled a lot in the last 48-hours. If bears are strong enough to overcome the large number of buyers at $2523.67, the short-term lower side target for Ethereum would be at $2445.05. This is the price where Ethereum last bounced off on March 7th, which could be significant short-term support. 

However, if bulls can break through the channel resistance at $2583.64, then be the end of the current Ethereum bearish channel. In such a case, Ethereum bulls can expect some resistance at $2647.57 on the 50-day MA. If bulls break the 50-day MA resistance, the short-term target would be $2775.27, the highest price that Ethereum has tested in the past week.  

Related: Ethereum (ETH) Price Prediction

SOL/USD

Solana (SOL) is trading in a bearish channel on March 11th, continuing the bearish price action that started on March 10th. In the last 48-hours, Solana has been making lower highs along a bearish trading channel. Solana’s selling volumes are dropping, though SOL is yet to invalidate the current bearish trading channel. 

SOL/USD daily chart 031122

SOL/USD daily chart. Source: TradingView

If bulls can’t push Solana through the $82.67 resistance on the current SOL trading channel, $79.92 would be the first target for Solana. This is a price where bulls fought hard and reversed the tide after a selloff on March 7th. However, if bulls can’t hold down bears at $79.92, then Solana’s short-term target would be $78.30. 

However, if bulls can break through the channel resistance at $82.67, then we mark the end of the current Solana bearish channel. In such a case, Solana bulls can expect some resistance at 83.54 on the 100-day MA. If bulls are strong enough to break the 100-day MA resistance, the short-term target would be $89.93, which is the highest price that Solana has tested this week.  

Related: Solana (SOL) Price Prediction

BNB/USD

Binance coin (BNB) has been in a bearish channel since March 9th. The selloff accelerated after Binance coin broke through the 100-day MA at $383.1 on March 10th. Binance coin continues in the same bearish channel and is currently making lower highs. At the moment, BNB is making another lower high at $374.4, and bulls seem to be losing momentum.

BNB/USD daily chart 031122

BNB/USD daily chart. Source: TradingView

If Binance coin bulls lose the fight at the $374.4 channel resistance, bears could easily push it to $365.1. This is a price level where the Binance coin has bounced off in all its corrections in the past week. If bears overcome the wall of buyers at $374.4, $359.0 would be the short-term target for BNB. 

However, if bulls can push through the wall of sellers at $37.4, it would break the current bearish trading channel. Bulls can expect some resistance at $381.2 on the 100-day MA in such a case. If they break this resistance, the short-term target would be $38.7, a price level where Binance coin bulls faced some resistance on March 8th. 

Related: Binance Coin (BNB) Price Predictions

XRP/USD

After trading in a bearish channel all through March 10th, Ripple’s (XRP) has entered a bullish trading channel on March 11th. Bulls are gaining upside momentum, and XRP is now making higher lows though buying volumes are still low. 

XRP/USD daily chart 031122

XRP/USD daily chart. Source: TradingView

If XRP bulls lose the fight at the $0.751 on the channel resistance, bears could easily push it to $0.73654. This is the channel support where bears can expect a wave of buyers. If bears overcome the wall of buyers at $0.73654, $0.714 would be the short-term lower side target for XRP.

However, if bulls can push through the wall of sellers at $0.751, it would mark a continuation of the current bullish channel and with high volumes. In such a case, bulls can expect some resistance at $0.779, the highest price that XRP has tested in the past week. If the $0.779 resistance is broken, on the 100-day MA. If they break this resistance, the short-term upside target would be $0.80. 

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) was trading in a bearish channel on March 10th and continued on the same trajectory on March 11th. Currently, Cardano has made a lower higher at $0.808, and bears are taking control.

ADA/USD daily chart 031122

ADA/USD daily chart. Source: TradingView

If Cardano bulls lose the fight at the $0.808 current channel resistance, bears could easily push ADA to $0.79. This is the lowest price Cardano tested on March 7th, before bulls pushed it all the way to $0.784. If bears can push through the $0.784 support, $0.763 would be the short-term target. 

However, if bulls can push through the wall of sellers at $0.808, then it would mark the end of Cardano’s bearish channel. Bulls can expect some resistance at $0.825 on the 50-day MA in such a case. If bulls push through this resistance, the short-term target would be $0.862, the highest price level that ADA has tested this week.  

Related: Cardano (ADA) Price Predictions

AVAX/USD

After trading in a bearish channel all through March 10th, Avalanche (AVAX) has entered a bullish trading channel on March 11th. Bulls are gaining upside momentum, and AVAX is now making higher lows though buying volumes are yet to pick up momentum. 

AVAX/USD daily chart 031122

AVAX/USD daily chart. Source: TradingView

If AVAX bulls lose the fight at $76.43 on the channel resistance, bears could easily push it lower, all the way to $74.38 on the 100-day MA. This is the channel support where bears can expect a wave of buyers. If bears overcome the wall of buyers 74.38, $71.47 would be the short-term lower side target for AVAX.

However, if bulls can push through the wall of sellers at $74.38, then it would mark a continuation of the current bullish channel, with high volumes. In such a case, bulls can expect some resistance at $79.08, the highest price AVAX tested in the past week. If bulls break the $79.08 resistance, the short-term upside target would be $81.90. 

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) is trading in a descending triangle pattern on March 11th. This shows that LUNA is bearish, but trading volumes are in decline. It also means that LUNA could break out in any direction soon. 

LUNA/USD daily chart 031122

LUNA/USD daily chart. Source: TradingView

If LUNA bulls lose the fight at $99.91 on the channel resistance, bears could easily push it lower, all the way to $94.86, a price where bulls have successfully put up a fight in the past week. If bears overcome the wall of buyers 94.86, $83.96 would be the short-term lower side target for LUNA.

However, if bulls can push through the wall of sellers at $99.91, then it would mark a bullish breakout, and LUNA could make new highs above $120 in the short term. 

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) was trading in a bearish channel on March 10th and continued on the same trajectory on March 11th. Currently, Dogecoin bulls are losing momentum at $0.1170 on the resistance of the current trading channel.

DOGE/USD daily chart 031122

DOGE/USD daily chart. Source: TradingView

If Dogecoin bulls lose the fight at the $0.1170 channel resistance, bears could easily push it to $0.1145. This is the lowest price DOGE tested in the last 48-hours. If bears overcome the wall of buyers at $0.1145, $0.1118 would be the short-term target. 

However, if bulls can break through the channel resistance at $0.1170, then it would be the end of the current Dogecoin bearish channel. In such a case, Dogecoin bulls can expect some resistance at $0.1186 on the 50-day MA. If bulls break the 50-day MA resistance, the short-term target would be $0.129.  

Related: Dogecoin (DOGE) Price Predictions

SHIB/USD

Shiba Inu (SHIB) was trading in a bearish channel on March 10th and continued on the same trajectory on March 11th. Not only is Shiba Inu making lower highs, buying volumes are in decline, pointing to a continuation of the bearish pattern.

SHIB/USD daily chart 031122

SHIB/USD daily chart. Source: TradingView

If Shiba Inu bulls lose the fight at the $0.00002251 channel resistance, bears could easily push it to $0.00002187. This is the lowest price SHIB tested in the last 24 hours. If bears overcome the wall of buyers at $0.00002187, $0.00002151 would be the short-term target. 

However, if bulls can push through the wall of sellers at $0.00002251, then it would mark the end of Shiba Inu’s bearish momentum. Bulls can expect some resistance at $0.00002316 on the 100-day MA in such a case. If bulls break this resistance, the short-term target would be $0.00002428.

Related: Shiba Inu (SHIB) Price Predictions