Price Analysis

Will Crypto Markets Stabilize This Week? BTC, ETH, XRP Price Remain Below The Strong Resistance?

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Mar 21, 2022

news-image
Highlights

    Bulls had faced the bears which compelled most of the crypto assets to paint in red to end the weekly trade

    On the other hand, Bitcoin(BTC) price rose above $42,000 but yet again faced a rejection below $41,000

    Most of the altcoins are also attempting very hard to flip the bearish trend but eventually end up swinging within the same regions

The entire market is currently painted in green as most of the crypto assets are surging with decent margins. Bitcoin’s (BTC) price is hovering above $41,000 for ‘n’th time since the beginning of 2022. The asset was on the verge to close the weekly trade on a bearish note but was successful in closing above $41,200. Despite a loss of less than a per cent, the asset managed to gain more than 3% since the early trading hours. Therefore keeping the possibilities of a notable uptrend alive with a bullish start of the week. 

Bitcoin(BTC) 

Bitcoin price is surging within the set path towards the upper and strong resistance at $44,500. No doubt the asset is facing multiple rejections, yet the possibilities of the asset retesting the immediate resistance just above $41,500 appear high. And hence once these levels are broken, which should not be a tedious job, clearing this zone may become pretty easy. 

Ethereum(ETH) 

Ethereum price had lost more than that of Bitcoin concerning the value, rally strength, volatility, etc. The second-largest crypto recorded a bullish close for the week and currently attempting very hard to maintain above these levels. Yet the possibilities of a pullback or a plunge still surfaces. As the asset is on the verge to plunge hard to form the converging triangle pattern which is extremely bearish. 

Ripple(XRP)

Ripple’s (XRP) price close the previous day’s trade on a bearish note but could maintain a bullish weekend throughout. With the mid-week jump in the previous week, the asset ignited a breakout from the descending trend. And currently maintaining a significant uptrend. Moreover, the bears appear to be pretty strong at the moment as the selling pressure is mounting up. And hence a significant possibility of plunging back into the descending pattern.

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button