Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 17, 2022

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Last Updated March 17th 2022
7 Min Read

Bitcoin and most altcoins are in a bull trend and making higher lows on March 17th. This signals a possible continuation of the current uptrend. 

The crypto market was on an uptrend on March 16th, and most cryptos were making higher lows all through the day. Bitcoin, the key market mover, is currently making higher lows and is holding firmly above $40k. At this point, one can only wonder, how high can the market go? Let's analyze the top 10 cryptocurrencies to figure this out. 

BTC/USD

After a breakout on March 15th, Bitcoin is still trending in an upside channel along the 20-day MA. Bitcoin (BTC) was making higher lows along this trading channel on March 16th and continues with the same price action. It has bounced off a more recent low on March 17th, and buying volumes are rising. 

BTC/USD daily chart 031722

BTC/USD daily chart. Source: TradingView

If Bitcoin bounces off the current low at $41,048.88, bulls can expect a fight from short sellers at $41,369.70. This is a price level where Bitcoin bulls have struggled since March 16th. If bulls can overcome the wall of sellers at $41,369.70, Bitcoin could test $44k in the short term. 

However, if selling volumes increase, bears can expect buyers to put up a strong fight at $40,855.26 on the 20-day MA. If selling volumes are strong enough to overcome bulls at $40,855.26, the short-term target for Bitcoin would be $38,519.2, a price level where bears have failed a couple of times in the week. 

Related: Bitcoin (BTC) Price Prediction

ETH/USD

Ethereum (ETH) is following in Bitcoin's lead and is currently trading in a bullish channel. Through March 16th, Ethereum was making higher lows along the 20-day MA. The same trend continues on March 17th, and after making a new daily high at $2788.89, it is currently trending back towards the 20-day MA at $2735.85. 

ETH/USD daily chart 031722

ETH/USD daily chart. Source: TradingView

If buying volumes shoot up in the day, Ethereum bulls can expect some resistance from short sellers at $2774.66, a price level where bulls have struggled since late March 16th. If buyers can overcome the wall of short-seller at $2774.66, Ethereum could easily test $3000 in the short term. 

However, if selling volumes increase and bears break through the 20-day MA at $2735.85, Ethereum could trend towards $2568 in the short term. That's a price level where Ethereum bears have failed at over the last few weeks. 

Related: Ethereum (ETH) Price Prediction

SOL/USD

Like the rest of the market, Solana (SOL) has been on a breakout since March 15th. Solana was making higher lows along the 20-day MA, and the same trend continues on March 16th. Solana is currently trending towards the 20-day MA at $86. 

SOL/USD daily chart 031722

SOL/USD daily chart. Source: TradingView

If buying volumes increase, and Solana bounces off the 20-day MA at $86, bulls can expect resistance at $89.20, the highest price level it has hit in the last 24-hours. If bulls can break the wall of sellers at $89.20, Solana could test a short-term target of $95. 

However, if bears take control in the day and break the 20-day MA at $86.00, Solana's short-term target would be at $80.25, a price level where bears have failed in the past week.

Related: Solana (SOL) Price Prediction

BNB/USD

Binance coin (BNB) has been in an uptrend since March 15th. On March 16th, it was making higher lows along the 20-day MA. The same trend continues on March 17th, and BNB is now trending towards the 20-day MA at $381.7 after hitting a high of $388.4 earlier in the day. 

BNB/USD daily chart 031722

BNB/USD daily chart. Source: TradingView

If BNB bulls regain control at $381.9 on the 20-day MA, they can expect a wall of short-sellers at $388.4. If bulls can garner enough volumes and breakthrough resistance at $388.4, BNB's short-term target would be $400.

However, short-sellers can expect bulls to put up a fight at $381.7 on the 20-day MA if selling volumes increase. If bears can overcome buyers at $381.7, then Binance Coin could test $368.7, a price level where BNB bears have failed a couple of times in the last week.

Related: Binance Coin (BNB) Price Predictions

XRP/USD

Like the rest of the market, Ripple's (XRP) was trading in a bullish channel on March 16th along the 20-day MA. However, unlike Bitcoin and the other cryptos, XRP buying volumes are pretty low, and the momentum is weak. Nonetheless, bulls still have the market, and XRP is bouncing off the 20-day MA at $0.7838. 

XRP/USD daily chart 031722

XRP/USD daily chart. Source: TradingView

If bulls take control and the uptrend continues, XRP bulls can expect to face a strong wave of short-sellers at the 24-hour high of $0.7981. If buying volumes increase and break through the wall of sellers at $0.7981, the short-term target for XRP would be at $0.8399. 

However, if bears are strong enough to break through the wall of buyers at $0.7838, the short-term target for XRP would be $0.755. This is a price where XRP bears have failed a couple of times in the last 72-hours. 

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) has been on an uptrend since March 15th. On March 16th, ADA traded in a bullish channel along the 20-day MA. The same trend continues on March 17th. ADA has bounced off its most recent low at $0.838, and buying volumes are on the rise.

ADA/USD daily chart 031722

ADA/USD daily chart. Source: TradingView

If Cardano bulls sustain the current momentum, they can expect bears to fight back at $$0.858, the highest price Cardano has hit in the last 24-hours. If bulls are strong enough to break the wall of short-sellers at $0.858, Cardano's short-term price target would be at $0.90.

However, if selling volumes increase and Cardano bears break through the 20-day MA at $0.830, it would mean that the uptrend is broken. In such a scenario, the short-term target for Cardano to the downside would be $0.788. 

Related: Cardano (ADA) Price Predictions

AVAX/USD

Avalanche (AVAX) has been strongly bullish since March 15th. On March 15th, Avalanche was making higher lows along the 20-day MA, and the same momentum has continued on March 17th. Avalanche has bounced off a low of $75.50, and buying volumes are rising. 

AVAX/USD daily chart 031722

AVAX/USD daily chart. Source: TradingView

If Avalanche continues on its current trend, bulls can expect some resistance at $76.91, a price where bears have put up a fight in the last 24-hours. If bulls can break through the wall of sellers at $76.91, Avalanche could test $85 in the short term.

However, if bears fail at $76.91, bears can expect bulls to put up a fight at $73.60 on the 20-day MA. If bears can break the wall of buyers at $73.60, the short-term target for Avalanche to the downside would be $66.13.

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) has broken ranks with the broader market. While the broader market is bullish, LUNA is range-bound between the $89.98 resistance and $87.06 support. 

LUNA/USD daily chart 031722

LUNA/USD daily chart. Source: TradingView

If LUNA bulls take control, they can expect strong resistance at $89.98, a price where sellers have been quite strong in the last 24-hours. If bulls can break through the wall of short-sellers at $89.98, then LUNA can test $90 in the short term.

On the other hand, if LUNA bears take control, they too can expect to fight a huge number of buyers at $87.14. If bears can marshal enough volumes to break the wall of buyers at $87.14, LUNA could test $84.12 in the short term. 

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) was bullish all through March 16th. Doge was making higher lows all through the day, and the same trend has played out on March 17th. At the moment, Dogecoin is trending towards the 20-day MA at $0.1160, which could be its lows for the day before the uptrend continues. 

DOGE/USD daily chart 031722

DOGE/USD daily chart. Source: TradingView

If Dogecoin buying volumes increase, they can expect to fight a strong wave of short sellers at $0.1194, the highest level it has hit in the day. If bulls can marshal enough volumes to break the wall of short-sellers at $0.1194, Dogecoin could test $0.13 in the short term.

However, if bears take control, they can expect bulls to put up a fight at $0.1160 on the 20-day MA. If bears can break the wall of buyers at $0.1160, the short-term target for Doge would be $0.1110. 

Related: Dogecoin (DOGE) Price Predictions

SHIB/USD

Shiba Inu (SHIB) was bullish throughout March 16th and was making higher lows along the 20-day MA. The same trend has continued on March 17th, and SHIB is now bouncing off the 20-day MA at $0.00002233. 

SHIB/USD daily chart 031722

SHIB/USD daily chart. Source: TradingView

If Shiba Inu bulls can sustain momentum, they can expect to find strong resistance at $0.00002281, the highest price Shiba Inu has tested in the last 24-hours. If bulls have enough volumes to break through the $0.00002281 resistance, the short-term target for SHIB would be $0.00002347.

However, if selling volumes increase and bears break the 20-day MA at $0.00002233, they can expect an even bigger fight from buyers at $0.00002196 on the 100-day MA. If bears are strong enough to break the 100-day MA at $0.00002196, the short-term target for SHIB would be $0.00002119. 

Related: Shiba Inu (SHIB) Price Predictions