Over the past seven weeks, Bitcoin has been on a downtrend, sparking interest among investors. In this article, we examine the current price movements of major cryptocurrencies like Bitcoin, XRP, PI, and Solana.
Bitcoin Price Analysis
Bitcoin's price closed below the 200-day moving average on March 9, indicating seller strength. The price fell to $76,600, but bulls are defending the lower trendline, bringing the price back to $82,500.
Ripple XRP Price Analysis
XRP's price has formed a descending triangle, and if the $2 support doesn't hold, the price could drop to $1.62. However, a reversal to $2.35 might lead to a breakout above the upper trendline.
Pi Network PI Price Analysis
After its recent launch, PI token shows strength. The chart forms a symmetric triangle, and the price broke through the upper trendline, indicating bullish momentum.
While short-term predictions for Bitcoin remain uncertain, cryptocurrencies show potential for future growth in the long run. Nevertheless, it is important to consider current market conditions and support levels.
