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

Price Predictions
Tue, 03/16/2021 - 15:20
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Denys Serhiichuk
Which crypto can set a new peak soon?
BTC, ETH, XRP, ADA and BNB Price Analysis for March 16
Cover image via www.tradingview.com

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The market is slightly recovering after a correction. Even though most of the coins are still in the red zone, some of the coins are showing a good price rise. XRP is the top gainer today, going up by 8.21%.

https://qubit.life/news/q-top-30-rating-update-and-start-of-a-new-perio/
Top 10 coins by CoinMarketCap

The crucial information for Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB) and Cardano (ADA):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,037,395,364,245 $55,226.15 $59,979,446,918 -1.85%

Ethereum

ETH

$205,511,679,509 $1,786.40 $44,295,320,508 0.42%

XRP

XRP

$21,884,442,302 $0.4796 $6,541,671,990 8.43%

Binance Coin

BNB

$39,542,866,152 $255.60 $2,404,317,002 -0.17%

Cardano

ADA

$33,306,095,268 $1.04 $4,424,640,880 1.19%

BTC/USD

Yesterday, support for the two-hour EMA55 at $58,000 failed to stop the Bitcoin (BTC) price pullback. The bearish momentum was so strong that the pair set a daily low around the $54,555 mark.

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

By the end of the day, the price tried to stay in consolidation, but this morning the decline continued to the support of $53,400.

Related
BTC, ETH and XRP Price Analysis for March 15

It is possible that this level will not cope with the onslaught of bears and, in the near future, the price may roll back to the area of $51,600.

Bitcoin is trading at $55,240 at press time.

ETH/USD

Yesterday sellers broke through the rather strong support level of $1,800 and set a local minimum at $1,732. By the end of the day, buyers tried to restore the pair to the average price area, but the level of $1,800 did not allow the ETH price to test the two-hour EMA55.

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

The decline continued tonight, and the pair renewed its minimum around the $1,712 mark. In the morning, the fall slowed down and the price bounced to the level of $1,740. But, most likely, buyers will not be able to start the recovery there. The closest support level that can keep the pair in consolidation is likely in the area of ​​$1,680.

Ethereum is trading at $1,785 at press time.

XRP/USD

Yesterday, the XRP price did not support negative market dynamics. The lower border of the sideways range ($0.430) reliably kept the pair in the channel.

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

Moreover, this morning, buyers managed to form a weak bullish momentum, which pulled the price of XRP out of the corridor. Now, the pair is trying to gain a foothold above its upper border. If this does not work, then the price will return to a narrow sideways range.

XRP is trading at $0.47 at press time.

BNB/USD

The rate of Binance Coin (BNB) is almost unchanged since yesterday.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Binance Coin (BNB) has made a false breakout of the $240 level, confirming the bulls' power. Also, the selling trading volume is low, which means that the native exchange token is ready to reach the vital $300 mark.

Binance Coin is trading at $257 at press time.

ADA/USD

Cardano (ADA) is the second-most growing coin today. Its price has increased by 1.19%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

At the moment, Cardano (ADA) is neither bullish nor bearish. If the altcoin fixes below the MA 50 on the daily chart, bears might seize the initiative. However, the more likely scenario is a retest and return to the area above $1.18.

Cardano is trading at $1.045 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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