Bitcoin (BTC) bulls have maintained the pressure and are attempting to push the price above the $90,000 resistance. A positive sign in favor of the bulls is that the US spot Bitcoin exchange-traded funds have witnessed net inflows for eight successive trading days, according to SoSoValue data. That indicates institutional investors are gradually buying again.
In another positive, a Bitcoin whale bought 2,400 Bitcoin — worth over $200 million — on March 24 to increase the total holding to more than 15,000 BTC, blockchain analytics firm Arkham Intelligence said in a post on X.
Crypto market data daily view. Source: Coin360
However, a Bitcoin rally may not be easy as bulls are expected to encounter solid selling near $90,000. Alphractal CEO Joao Wedson highlighted in a post on X that whales had closed long positions and initiated short positions on Bitcoin at $88,000. He added that history says the whales are right.
Could Bitcoin break above the stiff overhead resistance, pulling altcoins higher, or is it time for a short-term correction? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin is facing selling at the resistance line, but a positive sign is that the bulls have not allowed the price to dip below the 20-day exponential moving average ($85,825).
BTC/USDT daily chart. Source: Cointelegraph/TradingView
The flattening 20-day EMA and the relative strength index (RSI) near the midpoint suggest that the bulls have a slight edge. A break and close above the 50-day simple moving average ($89,787) indicates that the correction may be over. The BTC/USDT pair could soar to $95,000 and later to the crucial resistance at $100,000.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it signals that the bulls have given up. That may sink the pair to $83,000 and then to $80,000.
Ether price analysis
Ether’s (ETH) recovery is facing solid resistance at the breakdown level of $2,111, indicating that the bears are unwilling to give up their advantage.
ETH/USDT daily chart. Source: Cointelegraph/TradingView
If the price continues lower and breaks below $1,937, it will signal that the bears are trying to flip the $2,111 level into resistance. If that happens, the ETH/USDT pair could decline to $1,800.
This negative view will be invalidated in the near term if the price turns up and breaks above $2,111. That opens the doors for a rally to the 50-day SMA ($2,325) and subsequently to $2,550. Such a move will suggest that the pair may have formed a short-term bottom at $1,754.
XRP price analysis
XRP (XRP) is trying to take support at the 20-day EMA ($2.39), suggesting that the bulls are buying on dips.
XRP/USDT daily chart. Source: Cointelegraph/TradingView
If the price bounces off the 20-day EMA, the bulls will try to push the price to the resistance line. If the price turns down sharply from the resistance line and breaks below the moving averages, it will signal that the bears remain in control. That could keep the XRP/USDT pair stuck between the resistance line and $2 for some more time.
Buyers will be in the driver’s seat on a break and close above the resistance line. The pair may rally to $3 and eventually to $3.40.
BNB price analysis
BNB (BNB) bulls are facing resistance at $644, but a positive sign is that the buyers have not given up much ground to the bears.
BNB/USDT daily chart. Source: Cointelegraph/TradingView
The 20-day EMA ($616) has started to turn up, and the RSI is in the positive zone, suggesting that the path of least resistance is to the upside. If buyers drive the price above $644, the BNB/USDT pair could ascend to $686. This level may again act as a strong barrier, but if the bulls overcome it, the pair may rally to $745.
The first sign of weakness will be a break and close below the 20-day EMA. That may pull the price down toward the 38.2% Fibonacci retracement level of $591.
Solana price analysis
Solana (SOL) broke and closed above the 20-day EMA ($136) on March 24, suggesting the start of a relief rally.
SOL/USDT daily chart. Source: Cointelegraph/TradingView
The 50-day SMA ($155) may act as a resistance, but if the bulls prevail, the SOL/USDT pair could rally to $180. Sellers are expected to aggressively defend the $180 level. If the price turns down sharply from $180 and breaks below the 20-day EMA, it will signal a possible range formation in the near term. The pair may consolidate between $110 and $180 for some time.
Instead, if buyers drive the price above $180, it suggests that the pair has started its journey toward the top of the large $110 to $260 range.
Dogecoin price analysis
Dogecoin (DOGE) rose and closed above the 20-day EMA ($0.18) on March 25, suggesting the start of a sustained recovery.
DOGE/USDT daily chart. Source: Cointelegraph/TradingView
The DOGE/USDT pair is facing selling at the 50-day SMA ($0.21). If the price rebounds off the 20-day EMA, it will signal buying on dips. The bulls will try to propel the pair to $0.24 and later to $0.29.
On the other hand, if the price skids below the 20-day EMA, it will indicate that bears continue to sell on rallies. The pair may drop to $0.16 and then to the crucial support at $0.14.
Cardano price analysis
Cardano (ADA) bulls pushed the price above the 50-day SMA ($0.75) but are struggling to sustain the higher levels.
ADA/USDT daily chart. Source: Cointelegraph/TradingView
If the price breaks below the 20-day EMA, the bears will attempt to pull the ADA/USDT pair to the uptrend line. This is an important level for the bulls to defend because a break below it could tilt the advantage in favor of the bears. The pair could then descend to $0.58 and, after that, to $0.50.
If buyers want to seize control, they will have to push and maintain the price above the 50-day SMA. If they manage to do that, the pair could rise to $0.84. This level may act as a strong resistance, but if the bulls prevail, the pair may climb to $1.02.
Related: Bitcoin price just ditched a 3-month downtrend as ‘key shift’ begins
Chainlink price analysis
Chainlink (LINK) has moved up to the 50-day SMA ($16.12), which is likely to act as a stiff resistance.
LINK/USDT daily chart. Source: Cointelegraph/TradingView
If the price turns down from the 50-day SMA, the LINK/USDT pair may find support at the 20-day EMA ($14.75). A strong rebound off the 20-day EMA increases the likelihood of a break above the 50-day SMA. The pair could climb to $17.7 and later to the resistance line.
If bears want to prevent the upside, they will have to swiftly pull the price back below the 20-day EMA. The pair could slump to $13.82 and thereafter to the channel’s support line.
Avalanche price analysis
Avalanche’s (AVAX) relief rally rose above the 50-day SMA ($22.10) on March 25, indicating that the downtrend could be ending.
AVAX/USDT daily chart. Source: Cointelegraph/TradingView
The 20-day EMA ($20.42) has started to turn up, and the RSI has jumped into the positive zone, signaling an advantage to buyers. If the AVAX/USDT pair turns down from the current level but finds support at the 20-day EMA, it suggests a change in sentiment from selling on rallies to buying on dips. That improves the prospects of a rally to $27.23.
On the contrary, a break and close below the 20-day EMA signals a range formation between $25.12 and $15.27.
Stellar price analysis
Stellar (XLM) recovered to the breakdown level of $0.31, where the bears are expected to mount a strong defense.
XLM/USD daily chart. Source: Cointelegraph/TradingView
If the price turns down from $0.31 and breaks below $0.27, it will suggest that the bears are active at higher levels. That heightens the risk of a drop to the critical support at $0.22, where buyers are expected to step in.
Alternatively, a break and close above $0.31 signals that the markets have rejected the breakdown. The XLM/USDT pair may rise to the downtrend line, which could again pose a substantial challenge. A break and close above the downtrend line suggests a potential trend change.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.