Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 23, 2022

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Last Updated March 23rd 2022
9 Min Read

Bitcoin and altcoins buying volumes are rising at critical support levels on March 23rd, signalling a possible bullish reversal. 

Bitcoin and major altcoins are trading at support levels after a bearish, but low volumes trading, on March 22nd. Buying volumes are also rising, signaling that a bullish reversal could be close. The big question now is, will there be a bullish reversal, or will cryptos enter a consolidation phase over the next couple of days? Let’s analyze the top 10 cryptocurrencies to find out. 

BTC/USD

After a rally on March 22nd, Bitcoin (BTC) has turned bearish on March 23rd. However, bears have hit a snag at $41,792.38 on the 100-day MA. Buying volumes are on the rise again, signaling a potential reversal back to the rally of March 21st.  

BTC/USD daily chart 032322

BTC/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $41,792.38, they can expect bears to put up an even bigger fight at $43,000.98. This is the price where bears managed to end the rally that had started on March 22nd. If bulls can overcome the high number of short-sellers at $43,000.93, Bitcoin could easily retest $50k in the short term.

However, if short-sellers can break through the wall of buyers at $41,792.38 on the 100-day MA, bulls are likely to put up another fight at $40,810.39, a price level where bulls were able to trigger a reversal on March 21st. If bears are strong enough to break the wall of buyers at $40,810.39, then $38,405.02 could be a key target in the short term. 

Related: Bitcoin (BTC) Price Prediction 

ETH/USD

Ethereum (ETH) rallied on March 22nd, but a reversal followed after hitting a high of $3052.98. However, bears didn’t have much volume, and Ethereum was range-bound for most of the day. It is only on March 23rd that bears seem to have taken control. However, Ethereum bears are facing a strong fight from buyers at 2934.21 on the 100-day MA. 

ETH/USD daily chart 032322

ETH/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $2957.28 on the 50-day MA, they can expect bears to fight even harder at $3054.29, the highest price Ethereum hit on March 22nd. If bulls can overcome the high number of short-sellers at $3054.29, then Ethereum could easily test $4k in the short term.

However, if short-sellers can break through the wall of buyers at $2934.21 on the 100-day MA, bulls are likely to put up another fight at $2838.28, a price level where bulls were able to trigger a bullish reversal on March 21st. If bears are strong enough to break the wall of buyers at $2838.28, Ethereum’s short-term target to the downside would be $2610.31. 

Related: Ethereum (ETH) Price Prediction

SOL/USD

Solana (SOL) was in a rally all through March 22nd, but the price peaked out towards the end of the day, and bears took control. Bears are in control on March 23rd, but they have hit a wall of buyers at $90.46 on the 100-day MA. Buying volumes are now rising, and Solana is trending towards the 20-day MA at $91.52.

SOL/USD daily chart 032322

SOL/USD daily chart. Source: TradingView

If Solana bulls are strong enough to overpower short sellers at $91.52 on the 20-day MA, they can expect bears to put up an even bigger fight at $93.99, the highest price that Solana hit on March 22nd. If bulls can overcome the high number of short-sellers at $93.99, Solana could easily test $100 in the short term.

On the other hand, if short-sellers can break through the wall of buyers at $90.46 on the 100-day MA, bulls are likely to put up another fight at $87.89, a price level where bulls were able to trigger a reversal on March 21st. If bears are strong enough to break the wall of buyers at $87.898, Solana’s short-term target to the downside would be $84.78. 

Related: Solana (SOL) Price Prediction

BNB/USD

Binance Coin (BNB) was trending up since March 21st but peaked out on March 22nd at a high of $409.9. Binance then started consolidating before bears attempted to retake control on March 23rd. However, bears seem to have hit a brick wall of buyers at $398.3 on the 100-day MA. Buying volumes are rising, and BNB is now trending towards the 20-day MA at $404.7. 

BNB/USD daily chart 032322

BNB/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $404.7 on the 20-day MA, they can expect bears to put up an even bigger fight at $409.9, the highest price BNB has hit in the last 48-hours. If bulls can overcome the high number of short-sellers at $409.9, then Binance Coin could easily test $500 in the short term.

However, if short-sellers can break through the wall of buyers at $398.3 on the 100-day MA, bulls are likely to put up another fight at $388.2, a price level where bulls were able to trigger a reversal on March 21st. If BNB bears are strong enough to break the wall of buyers at $388.2, Binance Coin could test $382.9 in the short term. 

Related: Binance Coin (BNB) Price Predictions

XRP/USD

Ripple’s (XRP) was bullish all through March 21st but peaked out on March 22nd at a high of $0.8653. XRP has been trending lower on March 23rd, but bulls have fought back hard at $0.8217 on the 100-day MA. Bulls are now in control, and XRP is trending towards the 50-day MA at $0.833.

XRP/USD daily chart 032322

XRP/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $0.833 on the 50-day MA, they can expect bears to put up an even bigger fight at $0.8653. This is the price where bears managed to end the rally that had started on March 22nd. If bulls can overcome the high number of short-sellers at $0.8653, XRP could test $0.95 in the short term. 

On the flip side, if short-sellers can break through the wall of buyers at $0.8217 on the 100-day MA, bulls are likely to put up another fight at $0.7944, a price level where bulls were able to trigger a reversal on March 21st. If bears are strong enough to break the wall of buyers at $0.8217, XRP could test a short-term target of $0.7796. 

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) has been trading in a bullish channel along the 20-day MA since March 21st. However, bears have been entering the market on March 23rd, but they have failed to push ADA through the 20-day MA at $0.972. 

ADA/USD daily chart 032322

ADA/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $0.972 on the 20-day MA, they can expect bears to put up an even bigger fight at $1.004. This is the highest price that ADA has tested in the last 24-hours. If bulls can overcome the high number of short-sellers at $1.004, then ADA could easily retest $1.5 in the short term.

However, if short-sellers can break through the wall of buyers at $0.972 on the 20-day MA, bulls are likely to put up another fight at $0.912 on the 100-day MA. If bears are strong enough to break the wall of buyers at $0.912, Cardano could have a short-term target of $0.869. 

Related: Cardano (ADA) Price Predictions

AVAX/USD

After a brief rally on March 21st, Avalanche (AVAX) turned bearish and has been trending lower. The downtrend continues on March 23rd, though buyers are putting up a fight. Bulls have made some gains and are currently fighting off short-sellers at $84.90 on the 20-day MA. 

AVAX/USD daily chart 032322

AVAX/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $94.90, they can expect bears to put up an even bigger fight at $87.32 on the 100-day MA. If bulls can overcome the high number of short-sellers at $87.32, then AVAX could easily test $100 in the short term.

However, if short-sellers can break through the wall of buyers at $84.90 on the 20-day MA, bulls are likely to put up another fight at $82.32, the lowest price that AVAX has tested in the last 24-hours. If bears are strong enough to break the wall of buyers at $82.32, Avalanche could have a short-term target of $77.12. 

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) has been trending lower since March 21st. However, selling volumes have dropped on March 23rd, and LUNA is now trading along the 100-day MA at $92.62.

LUNA/USD daily chart 032322

LUNA/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $92.62 on the 100-day MA, they can expect bears to put up an even bigger fight at $94.32 on the 50-day MA. If bulls can overcome the high number of short-sellers at $94.32, LUNA could test $100 in the short term.  

However, if short-sellers can break through the wall of buyers at $92.62 on the 100-day MA, bulls are likely to put up another fight at $90.32, a price level where they triggered a reversal on March 21st. If bears are strong enough to break the wall of buyers at $90.32, LUNA could test $87.92 in the short term. 

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) turned bearish on March 22nd and has been trending lower since then. However, on March 23rd, bears hit a wall of buyers at $0.1215 on the 50-day MA. 

DOGE/USD daily chart 032322

DOGE/USD daily chart. Source: TradingView

If bulls are strong enough to overpower short sellers at $0.1215 on the 50-day MA, they can expect bears to put up an even bigger fight at $0.1241, a price level where bears ended the March 22nd uptrend. If bulls can overcome the high number of short-sellers at $0.1241, Dogecoin could test $0.14 in the short term. 

On the other hand, if short-sellers can break through the wall of buyers at $0.1215 on the 50-day MA, bulls are likely to put up another fight at $0.1192, a price level where a bullish breakout happened on March 21st. If bears are strong enough to break the wall of buyers at $0.1192, Dogecoin could have a short-term target of $0.1143. 

Related: Dogecoin (DOGE) Price Predictions

SHIB/USD

Unlike the rest of the market, Shiba Inu (SHIB) has been trading in a range since March 22nd, and there are no indications that the momentum is about to change. Volumes remain low, and SHIB is trading between the 50-day MA at $0.00002331 and the 20-day MA at $0.00002352. 

SHIB/USD daily chart 032322

SHIB/USD daily chart. Source: TradingView

If bulls can garner enough volumes and break the wall of short-sellers at $0.00002352, bears are likely to put up an even bigger fight at $0.00002387. This is the price level bears managed to cap the uptrend of early March 22nd. If bulls can break the $0.00002352 resistance, Shiba Inu could test $0.00002532 in the short term.

However, if bears can break the wall of buyers at $0.00002331 on the 50-day MA, bears could put up an even bigger fight at $0.00002248, a price level where bulls reversed the tide on March 20th. If bears can dismantle the wall of buyers at $0.00002248, SHIB could test $0.00002176 in the short term. 

Related: Shiba Inu (SHIB) Price Predictions