Bitcoin (BTC) Has Been Trading Above $80k

Bitcoin has been trading above $80k in the past seven days, suggesting that investors are no longer waiting for its price to dip further to accumulate. However, The coin’s failure to cross $86,000 indicates selling pressure at higher levels.

Bitcoin (BTC) price has been hovering above $80k in the past seven days, suggesting that investors are no longer waiting for its price to dip further to accumulate. However, The coin’s failure to cross $86,000 indicates selling pressure at higher levels.

As ETC issuers sold over $1.6 billion in Bitcoin since last Thursday, according to CoinShares data, it seems that they were among the participants applying that pressure on BTC. This figure means BTC ETFs have lost $6.4 billion in the past five weeks.

While the short-term view is bearish, analysts at CryptoQuant say there could be a new uptrend in the coming months as investors who bought BTC three to six months ago are accumulating more coins, a scenario that has led to bullish moves in the past.

So, will retail buyers help Bitcoin cross the $86,000 resistance? If so, what barriers should we monitor? Let’s explore the charts to find out.

Bitcoin Price Analysis

After crossing $84,000 earlier this week, Bitcoin formed a higher low, indicating that buyers were attempting to build bullish momentum. If they push the coin above the 20-day Exponential Moving Average of $85,900, we could witness a jump to the 50-day Simple Moving Average of $92,619, where sellers will likely apply pressure.

If the bulls fail to keep the price afloat and BTC drops below the 200-day Simple Moving Average of $82,842, the bullish setup will be invalidated. As such, BTC could plummet below $80,500 and move toward $76,040, a level that will likely attract buyers.

Ethereum Price Analysis

ETH broker out of the $1,822 – $1,963 trading range on Tuesday, reaching $2,015 as of this writing. That price performance signals aggressive buying at lower prices as investors anticipate a rally in the coming days.

If the bulls wish to build momentum, they must push and maintain Ethereum above the 20-day Exponential Moving Average of $2,109. By doing so, the chances of an uptrend toward the 50-day Simple Moving Average of $2,489 will be boosted. While we expect aggressive selling at $2,489, a surge to $2,800 is possible if the bulls defeat the bears there.

XRP Price Analysis

XRP has struggled to cross and stay the 50-day Simple Moving Average of $2.524, indicating bears’ presence at higher prices. The good news is that the buyers have kept the token above the 20-day Exponential Moving Average of $2.357, and the Relative Strength Index has crossed above 50, indicating a shift in market dominance.

Intense buying could propel XRP to $2.749 and then to $3, where we anticipate sellers stepping in to apply pressure. Conversely, if the bears succeed in pulling XRP below $2.357, a move to $2.050 could happen. Moreover, a dip below $2.050 would complete a bearish pattern, which could cause a drop to $1.293.

BNB Price Analysis

BNB surpassed the 20-day Exponential Moving Average of $596 on March 16th, signaling the potential end of the downtrend. The bulls have now pushed the coin above the 50-day Simple Moving Average of $621, aiming to drive it to the $650.50 resistance. Increased buying above that critical level could propel BNB toward $685 and eventually to $719.

On the contrary, if the bulls let $596 give way, then the Binance Coin could see its price plunge to $550 and later to $500, where we anticipate increased buying.

Solana Price Analysis

Sellers have blocked Solana from crossing the 20-day Exponential Moving Average of $139.68 since March 16th, signaling their intent to keep the asset at lower levels. If they apply more pressure, SOL could depreciate to the $112.04 key support and then to $100. On the bullish side, if buyers thrust the coin above $138.68, the journey to the 50-day Simple Moving Average of $170.84 will begin.

Dogecoin Price Analysis

Dogecoin's recovery rallies have met resistance near the 20-day Exponential Moving Average of $0.1894. However, if this level collapses, the meme coin will likely rise to the