BTC, LTC and XRP Price Analysis for March 12

Price Predictions
Fri, 03/12/2021 - 14:32
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Denys Serhiichuk
Can the top cryptocurrencies keep growing after today's drop?
BTC, LTC and XRP Price Analysis for March 12
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 cryptocurrency market as the majority of coins are in the red zone. Litecoin (LTC) is the only exception to the rule, rising by 4%.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The crucial information on Bitcoin (BTC), Litecoin (LTC) and XRP:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,037,655,098,297 $55,513.20 $54,770,762,939 -0.59%

Litecoin

LTC

$13,553,270,148 $204.36 $6,394,299,110 4.30%

XRP

XRP

$19,875,537,277 $0.4351 $3,167,036,022 -2.73%

BTC/USD

Yesterday morning, buyers managed to find support around the $54,200 mark, and the BTC price continued to recover to the resistance of $58,000.

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

Late at night, the bulls returned to the zone of the absolute maximum, set on February 21, 2021, but the decrease in volumes did not allow them to renew the record value of February.

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As of this morning, the pair rolled back to the area of ​​the $57,280 mark. If the bulls can strengthen the onslaught, they will break through the resistance of $58,000 and continue their race toward the target level of $60,000. If the volume cannot be increased today, then a rollback may continue to the two-hour EMA55.

Bitcoin is trading at $55,680 at press time.

XRP/USD

Yesterday morning, the bears managed to pierce the support of $0.45, and the pair tested the middle line of the blue channel. However, the XRP price was able to get out of this corridor rather quickly and consolidate above the upper border of the range ($0.45).

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

Buyers made an attempt to restore the pair to the area of ​​average prices tonight, but it has not yet been possible to gain a foothold above the four-hour EMA55. If a positive mood prevails on the crypto market, then XRP will continue to recover to the psychological $0.50 mark.

XRP is trading at $0.4334 at press time.

LTC/USD

Litecoin (LTC) is the only gainer today. The rate of "digital silver" has risen by 4% since yesterday.

LTC/USD chart by TradingView
LTC/USD chart by TradingView

On the daily chart, Litecoin (LTC) is trading within the ascending channel. After a false breakout of the $208 resistance, there is no rollback, which means that bulls are controlling the situation. If the breakout happens, there are chances of seeing a sharp move to the next level of $227.

Litecoin is trading at $203 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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