Bitcoin has been involved in an upward trend and has already surpassed half the average of last year’s highest figure. According to the current state of the market, Bitcoin has been improving gradually, and in the coming few months, it might go above the highest level in last year December.
In the cryptocurrency market currently, there are numerous newbies who didn’t want to be left out in the cryptocurrency price bubble. Additionally, others have invested in large volumes to make a quick buck. This means that price fall might lead to disappointments and discourage purchasing powers.
As opposed to Bitcoin and ripple, the other cryptocurrencies have either maintained their price range or involved in a drop in prices. However, we believe that cryptocurrencies will all have upward trends to trigger more and more investments.
Bitcoin has been involved in a price surge for the last two days. During the previous analysis on March 2, we made a prediction that Bitcoin would reach the $11,200 levels and after that, it would attain the resistance levels of $12,200.
However, the 100 SMA is now above the longer term 200 SMA showing that the upside has the least resistance. To put this clear and straightforward, the uptrend is likely to continue over time than the reverse. According to statistics, however, there are indications that there are surplus buyers and dropping could affect the investors. With the current price and trend, a drop below the $11,200 levels could be an indication that a downtrend is underway.
Bitcoin currently trades at the $11,549 level, and this is a remarkable improvement in price according to last week’s statistics. However, as we stated in the previous analysis, the $11,400 and the $12,200 might be the price range for the next few days.
Additionally, we anticipate a surge in prices to the $12,200 levels which is the resistance zone currently. This price level has initiated buying and increasing investments, and this might see the price surge to the $18,000 levels. Therefore, the individuals who are still thinking of investing in the coin can go ahead.
Ethereum has been experiencing some sort of downtrend in the last few days. As compared to Bitcoin, Ethereum has been involved in trading at the same range and also dropping in prices from time to time. We had forecast a resistance level of $900 since Ethereum stood at the $873 level. However, it has since doped to the $868 level.
It might not be a good market time for Ethereum currently. However, the long positions between $850 and the $900 level might continue for some days. This is because $900 is the resistance level currently. However, upon attaining the $900 price level means that the cryptocurrency can resume the normal upward trend to the $1,000 level. Currently, we don’t recommend any trade on Ethereum.
From the time Bitcoin cash initiated an upward trend in prices and traded above the $1,250 level, it has maintained the range for some days now. The cryptocurrency was involved in an upside from the $1,220 low and broke the $1,250 resistance levels. It has also maintained above the $1,260 level.
However, Bitcoin cash is currently experiencing a resistance level of $1,290. On the other end, the support level is at the $1,250 level, and this means that going below the level might trigger losses for the investors. However, we expect the cryptocurrency to continue with the uptrend to the $1,300 levels. The pair currently trades at the $1.281 level.
In our several price analysis and predictions, we made forecasts that Ripple would improve to the $1.00 levels. This has been possible according to today’s surge in price. The cryptocurrency has been involved in an improvement from the $0.90 levels to the $1.01 levels in a few hours. Therefore, this means that Ripple has already crossed the resistance level and this could trigger investments.
However, our expected price is the $1.2296 level. Therefore, with the current surge, we believe that the cryptocurrency will gain a similar trend. Additionally, the current price can trigger buying in the wait for the next improvement in price.
IOTA has been experiencing a drop in price in the last one week. From the previous analysis, it traded at the $1.96 as compared to today where it trades at the $1.89 level. This means that we might expect long positions between the $1.80 and the $2.00 levels.
However, after hitting the lowest level, which is the $1.80 support level, this might trigger buying and see it surge to the $2.00 levels. Therefore, traders and potential investors should wait for the low which might trigger investments. However, when the cryptocurrency hits the $2.00 level, it might experience resistance at the $2.2 level.
Litecoin is considered one of the most significant cryptocurrencies in the market. Additionally, it is one of the strongest as it’s not profoundly affected by price drops. Currently, Litecoin trades at the $211 price level, and this is a considerable improvement from Friday’s analysis where it was trading at $206.
Our expected price in the coming few days is the $240 level. However, this might act as the resistance zone for some time. Upon attaining the $240 level, the cryptocurrency might additionally rally to the $260 levels.
NEM was involved in trading between the $0.37 and $0.44 levels for a long time. However, this cryptocurrency has not been stable in its prices. Currently, it has dropped below the range and trades at the $0.344 level. Considering that $0.40 is the resistance level, the current drop in prices might see the cryptocurrency drop further to the $0.30 levels.
On the other hand, with favorable market conditions, the cryptocurrency might improve to the $0.40 levels in a few days. We hence do not make any recommendations for investment in NEM.
Cardano has been, for the last one month, not been able to find any buyers of the cryptocurrency. This has seen it remain in the same price range for a long time. We have been suggesting that a drop in prices to the $0.0000246 levels might trigger buying.
Currently, the cryptocurrency trades at the $0.0000293 level, and this means that it might reach the downtrend line soon. However, once buying is triggered, we expect Cardano to rise to the $0.00004070 levels in a few days.