Bitcoin (BTC) price has rallied on an ascending support line that coincides with a horizontal support area.
Ethereum (ETH) has been temporarily turned down below $ 2,000 but is expected to find support near $ 1,700.
XRP (XRP) trades in a range between $ 0.36 and $ 0.63.
Cardano (ADA) has returned to confirm previous all-time high resistance at $ 1 and has bounced back afterwards.
EOS (EOS) acts within a parallel ascending channel.
After Tezos (XTZ) hit a new all-time high on Feb. 14, it fell below the previous all-time high resistance range. This level should serve as a support.
Avalanche (AVAX) has rallied around the $ 25 support area.
Bitcoin (BTC)
BTC has been following an ascending support line since the beginning of March.
After reaching an all-time high of $ 61,844 on March 13, BTC began a downward movement. The decline returned to the support line, which also coincides with the horizontal support area at USD 54,550.
BTC has started a rally, aided by the bullish reversal of the short-term MACD. Despite returning to this support line, the trend is considered bullish as long as BTC does not close below it.
BTC chart from TradingView
Ethereum (ETH)
Similar to BTC, ETH has increased since February 28th. So far, it has hit a high of $ 1,944.60 on March 13th.
While ETH has fallen slightly since then, the decline does not seem impulsive.
Additionally, it is still trading above the 0.382 fib retracement level at $ 1,696.
The MACD has turned bullish and the RSI is expected to follow soon.
Therefore, it is expected that ETH will recover in this support area and continue to rise.
If it hits a new all-time high, the next resistance area would be at $ 2,500.
ETH chart from TradingView
ETH chart from TradingViewXRP (XRP)
XRP has moved down since it hit a high of $ 0.65 on Feb.22.
The decline brought it into the $ 0.36 support area the next day and XRP started the current rally.
Despite the spike, XRP is still stuck in the $ 0.36-0.63 range.
In addition, technical indicators are neutral.
Hence, the direction of the trend is indeterminate until XRP breaks out of this area or declines.
TradingView’s XRP chart
Cardano (ADA)
ADA has moved down since hitting an all-time high of $ 1.54 on Feb.27.
The decline has brought it to the previous high resistance area of $ 1. Hence, the current decline looks like a bullish retest. After testing the level, ADA started a ricochet that is still going on. So far it has hit a high of $ 1.32.
The rise is also supported by the hidden bullish divergence in the RSI. In addition, the MACD and the stochastic oscillator increase. These readings suggest that the long-term trend is bullish.
Hence, ADA is expected to gradually increase and eventually hit a new all-time high.
TradingView ADA chart
EOS (EOS)
The EOS has been increasing since it hit a low on Feb.23. However, the increase has taken the form of a parallel ascending canal, which is often corrective.
Technical indicators are neutral and do not confirm the direction of the trend.
Hence, it is likely that EOS will fail from this channel and potentially fall back to the $ 3.10 support area.
TradingView’s EOS chart
Tezos (XTZ)
XTZ hit a new all-time high of $ 5.64 on February 14th. He went back immediately afterwards. This move has helped confirm the previous all-time high resistance of $ 4.40 as support.
Instead, however, XTZ has collapsed and has now validated the area as a resistance.
Technical indicators are relatively neutral. While the stochastic oscillator and the MACD are partly bullish, the RSI is partly bearish.
XTZ is still following a rising support line. Whether it breaks off that line or recaptures the $ 4.50 level is likely to set the direction of the trend.
TradingView XTZ Chart
Avalanche (AVAX)
AVAX has moved down since hitting an all-time high of $ 60.35 on Feb.10. The decline has brought it to the 0.618 Fib support at $ 25 where AVAX has rallied.
Both the stochastic oscillator and the MACD have turned bullish and support the continuation of the uptrend.
The two closest resistance areas are at $ 36.70 and $ 45.70.
TradingView AVAX chart
Click here to view the latest Bitcoin (BTC) analysis from BeInCrypto.
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