Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 24, 2022

By
Last Updated March 24th 2022
6 Min Read

Bitcoin and altcoin buying volumes are increasing at key resistance levels, signaling a possible bullish continuation on March 24th. 

Bitcoin and major altcoins are in a bullish breakout on March 24th. However, many are now trading at key resistance levels, though buying volumes remain high. The big question now is, can the bull trend continue or is a bearish reversal about to follow? Let’s analyze the top 10 cryptocurrencies to find out. 

BTC/USD

On March 23rd, Bitcoin (BTC) traded in a bullish channel along the 50-day MA. The same trend continues on March 24th. However, Bitcoin is now trading at $43,011.38, a 3-day resistance level, though buying volumes are rising.

BTC/USD daily chart 032422

BTC/USD daily chart. Source: TradingView

If bulls can break through the wall of short-sellers at $43,011.3, Bitcoin could easily push through $44k and test $50k in the short term.  

On the other hand, if bears can overpower buyers around the $43282.40 - $43,011.3 price level, they can expect bulls to put up a fight at $41,934.72 on the 100-Day MA. If bears are able to break the wall of buyers at $41,934.72, Bitcoin could trend towards a downside target of $40,793.54 in the short term. 

Related: Bitcoin (BTC) Price Prediction 

ETH/USD

Ethereum (ETH) was trading in a bullish channel along the 50-day MA on March 23rd. The uptrend continues on March 24th, though Ethereum is forming a double-top around the $3050.68 price level.

ETH/USD daily chart 032422

ETH/USD daily chart. Source: TradingView

If bulls can overcome the wall of buyers around the $3050 - $3080 price level, there would be little to no resistance in the very short term. In such a scenario, Ethereum’s short-term target to the upside would be $4000.

On the other hand, if Ethereum bears overpower bulls around the $3050 price level, they can expect bulls to put up a fight around the $2945.22 level on the 100-day MA. If bears can break the massive wall of buyers around the 100-day MA, Ethereum could test $2827.62 in the short term. 

Related: Ethereum (ETH) Price Prediction

SOL/USD

Solana (SOL) has been trading in a bullish channel along the 20-day MA since March 23rd and continues gaining upside momentum on March 24th. 

SOL/USD daily chart 032422

SOL/USD daily chart. Source: TradingView

If buyers sustain the current momentum, Solana can expect bulls to put up a fight around the $100 level. If buyers can break the wall of short-sellers around the $100 price level, Solana could easily test prices above $150 in the short term. 

On the other hand, if Solana bears can break the wall of buyers around the $100 - $97 level, bears can expect bulls to put up a fight around the 100-day MA at $90.91. If bears can break the wall of buyers at $90.91, Solana could test a short-term target of $86.

Related: Solana (SOL) Price Prediction

BNB/USD

Binance coin (BNB) has been trading in a bullish channel along the 50-day MA since March 23rd. Buying volumes are rising on March 24th, though bears are putting up a fight around the $412.3 - $410.6 price level. 

BNB/USD daily chart 032422

BNB/USD daily chart. Source: TradingView

If bulls can break through the wall of short-sellers around the $410.6 - $412.3 range, BNB would have a short-term target of $500.

On the other hand, if bears are strong enough to overcome the wall of buyers around $412.3, bears can expect bulls to put up an even bigger fight around the $399.8 on the 100-day MA. If bears can break the wall of buyers at $399.8, BNB would have a target of $388.4 in the short term.

Related: Binance Coin (BNB) Price Predictions 

XRP/USD

Ripple’s (XRP) has been on an uptrend since March 23rd. However, unlike most major cryptos, XRP’s buying volumes are quite low. On March 24th, XRP continues trending up but has hit a wall of short-sellers at $0.8349 on the 50-day MA. 

XRP/USD daily chart 032422

XRP/USD daily chart. Source: TradingView

If bulls are able to break the wall of short-sellers at $0.8349, they can expect bears to put up a fight at $0.855, a price where bears took the market on March 22nd. If bulls can break the wall of short-sellers at $0.855, XRP could test $0.95 in the short term. 

However, if bears overpower buyers around the 50-day MA at $0.8349, bears can expect buyers to put up an even bigger fight at $0.8254 on the 100-day MA. If bears can break through the wall of buyers at $0.8254, XRP could test $0.7795 in the short term. 

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) has been trading in a bullish channel along the 20-day MA since March 21st. The same momentum continues, and buying volumes are currently rising, though bears are putting up a fight around the $1.119 price level.

ADA/USD daily chart 032422

ADA/USD daily chart. Source: TradingView

If buyers can garner enough volumes to break the wall of short-sellers at $1.119, Cardano could easily test $1.5 in the short term. 

On the other hand, if bears can reverse the tide at $1.119, they can expect bulls to put up a fight around the $0.97 price level. If bears can break the wall of buyers at $0.97, Cardano would have a short-term target of $0.869.

Related: Cardano (ADA) Price Predictions

AVAX/USD

Avalanche (AVAX) seems to be going against the grain. While most cryptos have been on an uptrend since March 23rd, Avalanche has been range-bound. On March 24th, AVAX continues trading in a narrow range between $85.58 and $83.80. 

AVAX/USD daily chart 032422

AVAX/USD daily chart. Source: TradingView

If bulls gain enough momentum to break the wall of short-sellers at $85.58, they can expect bulls to put up another fight at $91.45, a price level where bulls have failed twice in the past week. If bulls can break the wall of short-sellers at $91.45, AVAX could test $100 in the short term. 

On the other hand, if bears can break through the wall of buyers at $83.80, AVAX could have a short-term target of $77.25.

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) has been in a week uptrend since March 23rd. On March 24th, LUNA is gaining upside momentum after the 20-day MA cut the 50-day MA from below and started outpacing it. However, LUNA bulls are facing strong resistance at $$95.26.

LUNA/USD daily chart 032422

LUNA/USD daily chart. Source: TradingView

If LUNA bulls can break the wall of short-sellers at $95.26, they can expect bears to put up an even bigger fight at $96.68, the price where a bearish reversal happened on March 21st. If bulls can break through the wall of short-sellers at $96.68, LUNA could test $100 in the short term. 

However, if selling volumes increase and bears can take control at $95.26, bears can expect bulls to put a fight at $93.81 on the 100-day MA. If bears can break the wall of buyers at $93.81, LUNA could test $90.61 in the short term. 

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) traded in a bullish channel along the 20-day MA on March 23rd. It continues with the same price action on March 24th, though bears are fighting around the $0.1365 price level.

DOGE/USD daily chart 032422

DOGE/USD daily chart. Source: TradingView

If bulls can break through the wall of short-sellers at $0.1365, Dogecoin could test $0.15 in the short term. 

On the other hand, if bears overpower buyers at $0.1365, they can expect bulls to put up a fight at $0.1269. If short sellers are strong enough to overcome buyers at $0.1269, Dogecoin could test $0.1217 in the short term. 

Related: Dogecoin (DOGE) Price Predictions

SHIB/USD

Shiba Inu (SHIB) has been trading in a bullish channel along the 20-day MA since March 23rd. The same trend continues on March 24th though bears are fighting around the $0.00002469 price level. 

SHIB/USD daily chart 032422

SHIB/USD daily chart. Source: TradingView

If bulls can break through the wall of short-sellers at $0.00002469, Shiba Inu could test $0.00002600 in the short term. 

On the other hand, if bears overpower buyers at $0.00002469, they can expect bulls to put up a fight at $0.00002347 on the 100-day MA. If short sellers are strong enough to overpower buyers at $0.00002347, Shiba Inu could test $0.00002247 in the short term. 

Related: Shiba Inu (SHIB) Price Predictions