Over the past seven weeks, Bitcoin's price has maintained a downtrend. Meanwhile, XRP, PI, and Solana show various trends. In this article, we analyze the current support and resistance levels for these cryptocurrencies.
Bitcoin (BTC) Price Analysis
Bitcoin's price closed below the 200-day moving average on March 9, indicating increased seller strength. This led to a price drop to $76,600 on March 11. However, buyers started to defend the descending trend, pushing the price back to $82,500 levels. In the coming days, buyers might attempt to advance the price toward the 20-day moving average at $87,735 if the $76,000 support zone is well-defended.
Ripple (XRP) Price Analysis
The XRP/USDT chart has formed a descending triangle, with the price continuing to slump below the 20-day moving average, indicating a bearish edge. If the strong support level at $2, which doubles as the triangle's lower trendline, fails to hold, bears could drive the price down to $1.62. However, a bullish reversal seems likely as XRP targets $2.35, though this zone may present strong resistance.
Pi Network and Solana Price Analysis
The PI/USDT pair has shown strength after the token's recent launch, forming a symmetrical triangle on the chart. The price has broken above the upper trendline, indicating bullish momentum. Buyers are striving to push the price towards $2. Solana, following its peak at $296, has retraced to its $110-120 support area. Bulls might drive the price toward $144 and potentially $184.
While Bitcoin's short-term prospects remain uncertain, its long-term outlook looks promising for investors. XRP, PI, and Solana are showing different trends, offering various analytical opportunities.
