The last seven weeks have been challenging for the crypto market, with Bitcoin maintaining a downtrend. We will review current price trends of Bitcoin and also analyze the state of Ripple, Pi, and Solana.
Bitcoin Price Analysis
Bitcoin's price closed below the 200-day moving average on March 9, indicating increased selling pressure. Consequently, the price fell to $76,600 on March 11. However, bulls regained some position, elevating the price to $82,500, where it encounters resistance at the 200-day moving average. If the $76,000 support zone holds, buyers may attempt to breach the 20-day moving average level at $87,735 in the coming days.
Ripple Price Analysis
Following significant growth since November 2024, the XRP/USDT chart has formed a descending triangle. Price continues to slip below the 20-day moving average, indicating a bearish advantage. Should the $2 support level fail to hold, a drop to $1.62 could occur. However, if the price can sustain above $2.35, a breakthrough above the upper triangle trendline is possible.
Pi Network Price Analysis
The PI/USDT pair shows strength following the recent token launch. The chart shows a symmetrical triangle, and the price has broken through the upper trendline, indicating bullish momentum. Buyers need to act swiftly to push the price towards $2 and potentially achieve a new all-time high.
While Bitcoin's short-term direction remains uncertain, the long-term outlook is promising. Investors continue to keep a close watch on key support and resistance levels for several major cryptocurrencies, including Ripple, Pi Network, and Solana.
