Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 18, 2022

By
Last Updated March 18th 2022
7 Min Read

Bitcoin and altcoins are struggling at major resistance levels on March 18th, signalling to a potential bearish reversal short term. 

After a bull trend that has run for most of the week, bulls seem to be losing steam at key resistance levels. However, given that buying volumes are still high, and Bitcoin is firmly above $40k, there is a chance that bulls could sustain momentum and retake the market. Bears can't be written off, though, as they are entering the market quite strongly, and some major altcoins are already showing signs of a downtrend. So, which way for the market now? Let's analyze the top 10 cryptocurrencies to find out. 

BTC/USD

Bitcoin (BTC) was in consolidation on March 17th, and the same trend continues on March 18th. The 50-day moving average at $40,641.16 offers major support, with buying volumes on the rise. 

BTC/USD daily chart 031822

BTC/USD daily chart. Source: TradingView

If Bitcoin bulls can withstand the high number of short-sellers at $40,641.16, they can expect even more short sellers at $41,476.84, the highest price level that Bitcoin has hit in the last 48-hours. If bulls can break through the wall of bears at $41,476.84, the short-term target for Bitcoin would be $45k.

However, if short-sellers overpower bulls at $40,641.16 on the 50-day MA, they can expect buyers to fight back at $39,387.62 on the 100-day moving average. If bears can break through the wall of buyers at $39,387.62, Bitcoin could test $38,348.40 in the short term.

Related: Bitcoin (BTC) Price Prediction 

ETH/USD

Since March 16th, Ethereum (ETH) has been on an uptrend, making higher lows along the 20-day MA. However, the trend has, for a brief moment, been broken, as Ethereum dropped below the 20-day MA. However, ETH has quickly established new support at $2776.18. Buying volumes are on the rise too, and Ethereum has broken back above the 20-day MA. 

ETH/USD daily chart 031822

ETH/USD daily chart. Source: TradingView

If bulls sustain the current momentum, they can expect a wall of short-sellers at $2836.08, a price level where bulls have faltered in the last 24-hours. If bulls can marshal enough volumes to break the wall of bears at $2836.08, Ethereum could test $3000 in the short term. 

However, if bears can take control of the market at $2836.08, they can expect bulls to put up a fight at $2752.39 on the 50-day MA. If bears are strong enough to break the wall of buyers at $2752.39, the short-term target for Ethereum would be $2589.20. 

Related: Ethereum (ETH) Price Prediction

SOL/USD

After a bull rally all through March 16th, Solana (SOL) topped out on March 17th at a high of $90.97. Bears took control, and SOL continues to trend lower on March 18th. Bears have already broken through the 50-day MA at $86.34 support, but bulls are fighting back hard. 

SOL/USD daily chart 031822

SOL/USD daily chart. Source: TradingView

If bulls can marshal enough volumes to push back through the 50-day MA, they can expect an even bigger wall of short-sellers at $88.13. If bulls can break through the wall of bears at $88.13, Solana could easily test $95 in the short term.

However, if bears sustain pressure at $86.34 and break the wall of buyers at $86.34, Solana's short-term target to the downside would be $80.21.

Related: Solana (SOL) Price Prediction

BNB/USD

Binance Coin (BNB) was on an uptrend on March 16th and sustained the momentum on March 17th. However, the uptrend has broken down after Binance Coin pushed through the 20-day MA, and bears are pushing it towards the 50-day MA at $383.6. However, bulls are fighting back, and BNB has retested the 20-day MA at $388.0.

BNB/USD daily chart 031822

BNB/USD daily chart. Source: TradingView

If bulls can marshal enough volumes to break the 20-day MA at $388.0, they can expect an even bigger fight from bears at $393.4; the highest price BNB has hit in the last 24-hours. If bulls can break through the wall of bears at $393.4, then Binance Coin can test a short term of $400.

On the other hand, if bears overcome the strong wall of buyers at $388.0 on the 20-day MA, they can expect an even bigger fight at $383.7 on the 50-day MA. If bears overpower buyers at $383.6, the short-term target for BNB to the downside would be at $365.3. 

Related: Binance Coin (BNB) Price Predictions

XRP/USD

Since March 15th, Ripple's (XRP) has been on an uptrend, though volumes dropped on March 17th. The result has been range-bound trading all through March 18th between the 20-day MA at $0.7919 and the 50-day MA at $0.7831. 

XRP/USD daily chart 031822

XRP/USD daily chart. Source: TradingView

If bulls gain control and push XRP through the 20-day MA at $0.7919, bears will likely put up a strong fight at $0.849; the highest price XRP hit on March 14th. If bulls are strong enough to break the $0.849 resistance, $1 could be within reach in the short term. 

However, if XRP bears can break the wall of buyers at $0.7831 on the 50-day MA, bears can expect an even bigger fight at $0.7743 on the 100-day MA. If bears can break through the wall of buyers at $0.7743, the short-term target for XRP would be $0.7261.

Related: Ripple (XRP) Price Predictions

ADA/USD

Like the rest of the market, Cardano (ADA) was in a bull trend on March 16th. However, ADA broke ranks with the rest of the market and turned bearish on March 17th. Bears remain in control on March 18th and have already pushed ADA through the 50-day MA support at $0.831. 

ADA/USD daily chart 031822

ADA/USD daily chart. Source: TradingView

If Cardano bulls can put up a fight and push ADA back through the 50-day MA, they can expect bulls to put up an even bigger fight at $0.863. If bulls overpower short sellers at $0.863, Cardano could test $0.90 in the short term. 

On the other hand, if bears sustain the current momentum, they can expect bulls to put up a fight at $0.815 on the 100-day MA. If bears are strong enough to overcome bulls at $0.815, the downside target for ADA would be at $0.788.

Related: Cardano (ADA) Price Predictions

AVAX/USD

Avalanche (AVAX) was in a consistent uptrend since March 16th. However, volumes dropped towards the end of the day, and AVAX started consolidating. The same range-bound trading has continued on March 18th. 

AVAX/USD daily chart 031822

AVAX/USD daily chart. Source: TradingView

If bulls gain upside momentum, they can expect bulls to fight back hard at $81.77, the highest price that AVAX has tested in the last 24-hours. If bulls can marshal enough volumes to break the $81.77 resistance, then AVAX could test $100 in the short term. 

However, if AVAX bears can dismantle the wall of buyers that is building up at $78.64, they can expect bulls to put up a fight at $75.66 on the 50-day MA. If bears can break the wall of buyers at $75.66, AVAX could test $70 in the short term.

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Since March 15th, Terra (LUNA) has been on a downtrend, while the rest of the market has been trending up. Bearish momentum has accelerated on March 18th, and bears have managed to push LUNA through weekly support at $86.02. Bulls are putting up a fight, though, and bears are struggling to push LUNA through $85.19.

LUNA/USD daily chart 031822

LUNA/USD daily chart. Source: TradingView

If buying volumes increase and bulls can reverse the tide, they can expect bears to put up a fight at $89.63 on the 100-day MA. If bulls have enough volumes to break through $89.63, LUNA could easily retest $100 in the short term. 

On the other hand, if LUNA bears can marshal enough volumes to break the wall of bears building up at $85.19, LUNA could easily test a low of $80 in the short term. 

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) was in an uptrend since March 15th, but fortunes changed after it hit a high of $0.1194 on March 17th. Since then, Dogecoin bears have been in control. On March 18th, bears have broken the 50-day MA at $0.1160, and Dogecoin is trending towards the 100-day MA at $0.1146. However, bulls are putting up a fight, and bears are finding it hard to push DOGE low enough to test the 100-day MA. 

DOGE/USD daily chart 031822

DOGE/USD daily chart. Source: TradingView

If bulls can marshal enough volumes to reverse the tide, they can expect to find a solid wall of short-sellers at $0.1170 on the 20-day MA. If bulls are strong enough to break the wall of sellers at $0.1170, Dogecoin could test $0.134 in the short term.

However, if bears can double down on their current momentum, they can expect bulls to put up a fight at $0.1146 on the 100-day MA. If bears overcome bulls at $0.1146, the short-term downside target for Doge would be $0.1098. 

Related: Dogecoin (DOGE) Price Predictions

SHIB/USD

After a bull trend that ran from March 15th, Shiba Inu (SHIB) bulls lost control on March 17th after hitting a high of $0.00002281. Since then, the momentum has been strongly bearish. On March 18th, bearish momentum has accelerated after bears broke the 100-day MA support at $0.00002197. However, bulls are putting up a fight at $0.00002180 though low volumes. 

SHIB/USD daily chart 031822

SHIB/USD daily chart. Source: TradingView

If bulls can fight back and reverse the trend at $0.00002180, they can expect bears to put up a fight at $0.0002223 on the 50-day MA. If bulls can break the wall of short-sellers at $0.00002223, the short-term target for SHIB would be at $0.00002281. 

On the other hand, if bears can sustain momentum and break the wall of buyers at $0.00002180, the short-term downside target for SHIB would be $0.00002100. 

Related: Shiba Inu (SHIB) Price Predictions