Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – March 31, 2022

Bitcoin and most altcoins are putting pressure on resistance levels on March 31st, signalling a potential bullish breakout. 

Bitcoin and most altcoins were range-bound on March 30th. The same trend continues on March 31st. However, buying volumes are rising, and bulls are putting a lot of pressure on critical resistance levels. The big question is, are cryptocurrencies about to turn strongly bullish in a breakout move, or will the consolidation continue? Let’s analyze the top-10 cryptocurrencies to find out. 

BTC/USD

Bitcoin (BTC) was range-bound all through March 30th. All through the day, Bitcoin was trading along the 20-day MA. The same trend continues on March 31st, but volumes are dropping, while the 20-day and 100-day moving averages converge. 

BTC/USD daily chart. Source: TradingView

If buying volumes increase and bulls break the wall of buyers at $47,186.95, and the 50-day MA at $47,391.25, Bitcoin could easily test $50k or more in the short term. 

On the other hand, if selling volumes increase and bears break the wall of buyers at $46,888.65 on the 100-day, Bitcoin could test $44,455.17 in the short term. 

Related: Bitcoin (BTC) Price Prediction 

ETH/USD

Ethereum (ETH) was range-bound all through March 30th. All through the day, Ethereum was trading along the 20-day MA. The same trend continues on March 31st. Buying volumes are rising, but short-sellers are putting up a strong fight at $3402.65 on the 50-day MA. 

ETH/USD daily chart. Source: TradingView

If buying volumes increase, and bulls break the wall of buyers at $3402.65 on the 50-day MA, bulls can expect bears to put up an even bigger fight at $3467.11, a price level where they successfully beat bulls on March 29th. If Ethereum bulls can break the wall of short-sellers at $3467.11, Ethereum could easily test $4000 in the short term. 

On the other hand, if selling volumes increase and bears break the wall of buyers at $3370.07, which is the lower bound of the current trading range, short-sellers can expect pushback from buyers at $3340.01 on the 100-day MA. If short sellers can break the wall of short-sellers at $3340.01, then Ethereum could test $3128.7 in the short term. 

Related: Ethereum (ETH) Price Prediction

SOL/USD

Solana (SOL) was in a breakout for most of March 30th. However, towards the end of the day, buying volumes dropped. Short sellers were not that strong either, leading to range-bound trading. The same range-bound trading continues on March 31st between an upper limit of $123.52 and a lower limit of $120.71.

SOL/USD daily chart. Source: TradingView

If buying volumes increase and bulls break the wall of short-sellers at $123.52, Solana could easily test $140 in the short term. 

On the other hand, if selling volumes increase and bears break the wall of buyers at $120.71, short-sellers can expect pushback from buyers at $111.145, a price where bulls successfully reversed course on March 29th. If short sellers can break the wall of buyers at $111.145, Solana could test $100.51 in the short term. 

Related: Solana (SOL) Price Prediction

BNB/USD

Binance Coin (BNB) was trading in a bullish channel on March 29th and most of March 31st. However, bulls lost momentum towards the end of the day on March 30th. This triggered a downtrend that continues on March 31st, though bulls are putting up a strong fight at $443.2 on the 20-day MA, and the buying volumes are rising again. 

BNB/USD daily chart. Source: TradingView

If buying volumes increase and bulls break the wall of short-sellers at $451.1, the highest price that BNB has tested in the last 24-hours, BNB could easily test $500 or more in the short term. 

On the other hand, if selling volumes increase and bears break the wall of buyers at $443.2, short-sellers can expect an even bigger fight from buyers at $438.5 on the 50-day MA. If short sellers can break the wall of buyers at $438.5 on the 50-day MA, BNB could test $424.9 in the short term. 

Related: Binance Coin (BNB) Price Predictions 

XRP/USD

Ripple (XRP) was range-bound all through March 30th. XRP continues trading in a narrow range as the 20-day, 50-day, and 100-day MA moving averages converge together. This is a signal to a potential breakout in any direction. 

XRP/USD daily chart. Source: TradingView

If buying volumes increase and bulls break the wall of short-sellers at $0.8643 on the 50-day MA, XRP could easily test $0.95 or more in the short term. 

On the other hand, if selling volumes increase and bears break the wall of buyers at $0.8630, XRP could test $0.8498 in the short term. 

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) was range-bound between the 50-day MA at $1.201 and the 100-day MA at $1.169. The same trend continues on March 31st, though the moving averages have converged together, and ADA is now gaining upside momentum. 

ADA/USD daily chart. Source: TradingView

If buying volumes increase, bulls can expect short sellers to put up a big fight at $1.23. That’s a price level where they successfully ended a bull trend on March 29th. If bulls are able to break the wall of short-sellers at $1.23, ADA could easily test $1.50 in the short term. 

On the other hand, if selling volumes increase and bears break the wall of buyers at $1.198 on the 50-day MA, short-sellers can expect bulls to put up an even bigger fight at $1.185 on the 100-day MA. If bears can break the wall of buyers at $1.185, ADA could test $1.086 in the short term. 

Related: Cardano (ADA) Price Predictions

AVAX/USD

Avalanche (AVAX) was trading in a bullish channel along the 20-day MA on March 30th. The same trend continues on March 31st, and bulls are now taking control after AVAX made another higher low at $97.90. 

AVAX/USD daily chart. Source: TradingView

If bulls are able to overcome the wall of short-sellers at $99.29, they can expect bears to put up an even bigger fight at $101.99, the highest price that AVAX has hit in the last 24-hours. If bulls are strong enough to break the wall of short-sellers at $101.99, Avalanche could easily hit $150 in the short term. 

On the other hand, if bears can break through the high number of buyers at $97.90, they can expect bulls to fight even harder at $94.62 on the 50-day MA. If bears can break the wall of buyers at $94.62, AVAX could easily test $90.25 in the short term. 

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) was in a rally between March 27th and March 29th. Volumes dropped on March 30th, and consolidation followed. LUNA continues trading in a consolidation pattern on March 31st, though volumes have dropped significantly. LUNA is now trading in a narrow band between the 20-day MA at $107.16 on the upper side, and the 50-day MA at $106.44 on the lower side.  

LUNA/USD daily chart. Source: TradingView

If bulls take control and break the wall of short-sellers at $107.16, LUNA bulls can expect some even more resistance at $111.48, a price level where bears reversed a potential breakout on March 30th. If bulls can break the wall of short-sellers at $111.48, LUNA could easily test $120 in the short term. 

On the other hand, if bears can break the wall of buyers at $106.44 on the 50-day MA, they can expect bulls to put up a fight at $100.69 on the 100-day MA. If bears can break the wall of short-sellers at $100.69, LUNA could test $94.55 in the short term.

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) traded between $0.1442 and $0.1425 all through March 30th. However, bulls seem to be taking control on March 31st and DOGE has now broken out of a narrow range between the 50-day and the 20-day moving averages. 

DOGE/USD daily chart. Source: TradingView

If buying volumes increase and bulls can sustain the current momentum, Dogecoin could easily test $0.16 or more in the short term.

On the other hand, if bears take control, they can expect bulls to put up a strong fight between $0.1446 and $0.1437 on the 50-day and 20-day moving averages, respectively. If short sellers can fight through this wall of buyers, Dogecoin could test $0.1328 in the short term. 

Related: Dogecoin (DOGE) Price Predictions 

SHIB/USD

Shiba Inu (SHIB) was in a low volumes uptrend along the 20-day MA from March 30th. SHIB continues with the same price action on March 31st, but buying volumes are drying up. 

SHIB/USD daily chart. Source: TradingView

If bulls can sustain the upside momentum gained over the last 48-hours, they can expect bears to put up a fight at $0.00002866, a price where bears reversed the price on March 30th. If bulls can break the wall of buyers at $0.00002866, SHIB could test $0.00003000 in the short term. 

However, if bears take control, they can expect bulls to put up a strong fight at $0.00002755 on the 20-day MA. If bears can overcome the wall of buyers at $0.00002755, they can expect bulls to put up an even bigger fight at $0.00002683 on the 100-day MA. Breaking the $0.00002683 barrier would see SHIB test $0.00002457 in the short term.

Related: Shiba Inu (SHIB) Price Predictions