Technical Analysis on March 27: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, AVAX, XLM

The Bitcoin bulls (BTC) are still maintaining pressure and attempting to push the price above the resistance level of $90,000. A positive signal for them is that the Bitcoin spot ETF funds in the US have recorded a net inflow of capital for eight consecutive trading days, according to data from SoSoValue. This indicates that institutional investors are gradually returning to the market.

In addition, a Bitcoin whale purchased an additional 2,400 BTC – equivalent to over 200 million USD – on March 24, increasing its total holdings to over 15,000 BTC, according to blockchain analysis firm Arkham Intelligence.

However, the upward momentum of Bitcoin may face obstacles as the bulls encounter profit-taking pressure near the $90,000 level. The CEO of Alphractal, Joao Wedson, noted in a post on X that whales have closed their Long positions and shifted to Short positions as the price reached $88,000. He also emphasized that history shows whales often have accurate predictions.

Will Bitcoin be able to break through the important resistance level and trigger a recovery of altcoins, or will this be the time for a short-term correction? Let's analyze the charts of the top 10 cryptocurrencies to find out.

BTC Technical Analysis

Bitcoin is facing selling pressure at the resistance line, but the positive signal is that the bulls have not allowed the price to drop below the 20-day exponential moving average (EMA) at $85,825.

Daily BTC/USDT Chart | Source: TradingViewThe 20-day EMA is flat and the Relative Strength Index (RSI) is near the neutral level indicating that the bulls have a slight advantage. If the price breaks out and closes above the 50-day Simple Moving Average (SMA 50) at $89,787, it suggests that the correction phase may have ended. At that point, the BTC/USDT pair could rise to $95,000 and continue towards the significant resistance level of $100,000.

Conversely, if the price reverses and breaks below the 20-day EMA, it indicates that the bulls have lost control. At that point, BTC could drop to $83,000 and then to $80,000.

ETH Technical Analysis

Ether (ETH) is facing strong resistance at the breakout level of $2,111, indicating that the bears are still in control of the market.

ETH/USDT Daily Chart | Source: TradingViewIf the price continues to decline and breaks below $1,937, it signals that the bears are trying to turn the $2,111 level into resistance. In this case, the ETH/USDT pair could drop to $1,800.

This negative outlook will be nullified if the price reverses and rises above $2.111. This could open up a recovery opportunity to the 50-day SMA at $2.325 and then to $2.550, indicating that a short-term bottom has formed at $1.754.

XRP Technical Analysis

XRP is trying to find support at the 20-day EMA ($2.39), indicating that the bulls are taking advantage of the pullback to accumulate.

XRP/USDT Daily Chart | Source: TradingViewIf the price bounces off the 20-day EMA, the bulls may push the price up to the resistance line. However, if the price reverses sharply from there and breaks below the moving averages, it will confirm that the bears are still in control. At that point, the XRP/USDT pair may continue to fluctuate within the range from the resistance line to the $2 level for some time.

Conversely, if the price breaks out and closes above the resistance level, the bulls may push the price up to $3 and then to $3.40.

Technical Analysis of BNB

BNB is facing resistance at $644, but the positive signal is that the bulls have not allowed the price to drop significantly.

BNB/USDT Daily Chart | Source: TradingViewThe 20-day EMA ($616) has started to trend upwards and the RSI is in the positive zone, indicating a favorable trend for the bulls. If the price breaks above $644, the BNB/USDT pair could rise to $686. This could be a strong resistance, but if the bulls overcome it, the price may advance to $745.

The first sign of weakness will be when the price breaks and closes below the 20-day EMA. This could pull the price back to the Fibonacci support level of 38.2% at $591.

Technical Analysis of SOL

Solana (SOL) has broken out and closed above the 20-day EMA ($136) on March 24, signaling a recovery.

Daily chart of SOL/USDT | Source: TradingViewThe 50-day SMA ($155) may act as resistance, but if the bulls prevail, the SOL/USDT pair could rise to $180. Here, the bears are expected to defend strongly. If the price sharply retraces from $180 and breaks below the 20-day EMA, it could signal a prolonged accumulation phase between $110 and $180.

On the contrary, if the bulls push the price above $180, it will confirm that the SOL/USDT pair is heading towards the upper boundary of the broad range from $110 to $260.

Technical Analysis of DOGE

Dogecoin (DOGE) has increased and closed above the 20-day EMA ($0.18) on March 25, signaling a sustainable recovery.

DOGE/USDT Daily Chart | Source: TradingViewThe DOGE/USDT pair is facing selling pressure at the 50-day SMA ($0.21. If the price bounces off the 20-day EMA, it indicates that the bulls are buying in as the price corrects. At that point, DOGE could continue to rise to $0.24 and then $0.29.

On the contrary, if the price drops below the 20-day EMA, it will indicate that the bears continue to sell as the price rises. At that point, the DOGE/USDT pair could drop to $0.16 and then to the key support level at $0.14.

Technical Analysis of ADA

The bulls have pushed the price of Cardano )ADA( above the 50-day simple moving average )SMA( at $0.75 but are struggling to maintain a price above this level.

![])https://img.gateio.im/social/moments-119adef16000ea460d741f421391c446(Daily ADA/USDT Chart | Source: TradingViewIf the price breaks below the 20-day Exponential Moving Average (EMA) ), the bears will try to pull the ADA/USDT pair toward the uptrend line. This is an important support level that the bulls need to defend because if the price drops below this level, the advantage will shift to the bears. At that point, the pair could plummet to $0.58 and then to $0.50.

Conversely, if the bulls want to take control, they must push the price up and maintain it above the 50-day SMA. If successful, the pair could rise to $0.84. This price level may serve as strong resistance, but if the bulls prevail, the ADA/USDT pair could climb to $1.02.

Technical Analysis of LINK

Chainlink (LINK) has risen to the 50-day SMA at $16.12, where it may provide a strong barrier.

LINK/USDT Daily Chart | Source: TradingViewIf the price drops from the 50-day SMA line, the LINK/USDT pair may find support at the 20-day EMA at $14.75. A strong bounce from the 20-day EMA will increase the likelihood of breaking through the 50-day SMA line, allowing the price to climb to $17.7 and then to the resistance line of the price channel.

On the contrary, if the bears want to stop the upward trend, they need to quickly pull the price below the 20-day EMA. At that point, the LINK/USDT pair could drop to $13.82 and then to the support line of the channel.

Technical Analysis of AVAX

The recovery period of Avalanche (AVAX) has surpassed the 50-day SMA ($22,10) on March 25, indicating that the downtrend may be gradually coming to an end.

AVAX/USDT Daily Chart | Source: TradingViewThe 20-day EMA ($20.42 has started to trend upwards, and the Relative Strength Index )RSI( has jumped into the positive zone, signaling an advantage for the bulls. If the AVAX/USDT pair decreases from the current level but finds support at the 20-day EMA, it suggests that market sentiment is shifting from selling on price increases to buying on price dips. This will improve the outlook for a rise to $27.23.

On the contrary, if the price breaks and closes below the 20-day EMA, it could signal a price range oscillation between $25.12 and $15.27.

XLM Technical Analysis

Stellar )XLM( has recovered to the breakout level of $0.31, where bears are expected to establish strong defense.

![])https://img.gateio.im/social/moments-ebeb25236576f30e408b0bdd107229a1(Daily XLM/USDT Chart | Source: TradingViewIf the price reverses down from $0.31 and breaks through $0.27, it will indicate that the bears are still actively operating at high price levels. At that point, the risk of dropping to the important support level of $0.22 will increase, and here, the bulls may step in.

Conversely, if the price breaks out and closes above $0.31, it signals that the market has rejected the previous decline. At that point, the XLM/USDT pair could rise to the downtrend line, but this level may continue to act as a significant barrier. If the price surpasses and closes above the downtrend line, it could indicate a potential trend reversal.

You can check the coin price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.

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