BTC, ETH and XRP Price Analysis for March 17

Price Predictions
Wed, 03/17/2021 - 15:27
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Denys Serhiichuk
Can XRP and Ethereum (ETH) continue rising faster than Bitcoin (BTC)?
BTC, ETH and XRP Price Analysis for March 17
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The correction has continued on the market as coins are still in the red zone. Meanwhile, Cardano (ADA) is the top gainer out of the top 30 assets, rising by almost 20% over the last day.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The important information on Bitcoin (BTC), Ethereum (ETH) and XRP today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,026,362,443,045 $55,076.98 $51,556,748,513 -0.75%

Ethereum

ETH

$203,545,027,791 $1,768.56 $21,721,339,225 -0.88%

XRP

XRP

$21,098,171,791 $0.4673 $4,712,550,573 -3.50%

BTC/USD

Yesterday morning, the level of $53,400 limited the decline in the BTC price and, by the end of the day, the pair recovered to the area of average prices.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Buyers managed to pierce the two-hour EMA55 tonight while volumes were decreasing. During the day, buyers will try to restore the pair to the resistance of $58,000. But if the EMA55 reverses the price downward, the pair will return to the area of the weekly low (to the support of $53,400).

Bitcoin is trading at 55.021 at press time.

ETH/USD

Yesterday morning, buyers confidently pushed the Ethereum (ETH) price back to the two-hour moving average EMA55. However, in the second half of the day, the volume of purchases decreased significantly, and the pair could not continue to rise above the level of average prices. Buyers have tested the POC line ($1,800) several times, but so far they have been unable to overcome the resistance in the $1,800 area.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Today, bulls will repeat their attempts to restore the pair above the Volume Profile indicator line ($1,800). If they fail to gain a foothold above the level of average prices, the decline will continue to the support at $1,680.

Ethereum is trading at $1,776 at press time.

XRP/USD

Yesterday, the XRP price managed to gain a foothold above the upper border of the blue channel, and buyers managed to pierce the resistance at the level of $0.50. The March high is set at $0.520.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

The pair could not stay above the psychological level of $0.50 for long and returned to the support of $0.450 by the end of the day.

Related
BTC, ETH, XRP, ADA and BNB Price Analysis for March 16

Buyers initiated another attempt to restore the pair above the $0.50 level tonight but, in the morning, they were stuck around the $0.475 mark. If the growth continues and fails, the pair will return to the blue corridor.

XRP is trading at $0.4649 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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