Price Predictions 3/10: BTC, ETH, XRP, BNB, SOL, DOGE, ADA

ADA reclaimed its position in the top 10 after several waves of massive declines in Bitcoin Cash. It has also seen notable increases over the last 48 hours, surging by more than 2% in the previous week.

ADA will look to continue to maintain its current surge, erasing the previous week’s losses. However, the 4-hour chart suggests that the asset may be priming for a trend reversal.

The same reading is also found in the global cryptocurrency market cap. On the chart, the uptrend enters day 2 and is up by 3% on Tuesday. Over the last two days, it gained 6%. Nonetheless, the 4-hour chart warns of an impending correction. The bollinger bands suggest that it will start in the coming hours.

In the meantime, investors are excited about the news from the Middle East. The latest agreement to release crude oil from reserves and rumors that the US will reduce its demands for an end to the war are among the biggest movers.

It remains to be seen how long excitement will last. Nonetheless, the release of economic data may trigger a trend reversal, as forecasts are currently negative.

With the possibility of a massive downtrend in view, let’s see how some assets in the top 10 will perform in the coming days.

BTC/USD

Bitcoin had a good start to the week, gaining almost 4% on Monday. The uptick is ongoing on Tuesday, and the apex coin has risen slightly above yesterday’s level.

It recently attempted the $72k barrier but failed, but maintains trading above $71k. However, indicators are currently blaring warnings. On the 1-day chart, BTC is experiencing slight declines at the time of writing after it retested bollinger’s upper band.

The same reading is also present on the 4-hour chart. The coin has trended near the upper band since Monday, indicating the uptrend is nearing its end.

Aside from the BB, the relative strength index is at 67, three clicks from 70 when it will become overbought. It remains to be seen if the apex coin will break $72k before the reversal starts. A drop to $66k is likely in the coming days.

If the surge continues as RSI suggests, BTC may attempt $74k before the downtrend resumes.

ETH/USD

Ethereum ended its four-day decline on Monday, surging by almost 3%. Nonetheless, it surged to a high of $2,054 before slight corrections.

The buyers resumed buying on Tuesday; as a result, ETH surged from $1,933 to $2,088. Previous price movement shows that the altcoin is trading at a tough barrier at the time of writing. It has failed to decisively flip the mark after several retests.

If the trend continues, a reversal will start in the coming hours. The current candle on the 4-hour chart is a doji, suggesting that the upward momentum is gradually waning. Its previous candle indicates a spike in selling pressure, which could intensify in the coming hours.

Aside from the candles, it is also worth noting that the asset has traded close to bollinger’s upper band for an extended period. Corrections are overdue and will start in the coming hours.

XRP/USD

A previous analysis noted that XRP may surge higher in the coming days. It currently trades at $1.42 following a recent price spike. While the 1-day chart points to a surge to $1.46, the bollinger bands on the 4-hour chart paint a different picture.

It suggests that the uptrend is nearing its end following the recent breakout. Aside from the BB, the asset prints a red candle, suggesting that the bulls are losing dominance. If it worsens, prices will retrace below $1.40.

Previous price movements suggest that XRP may rebound at $1.36 if the bulls defend it.

BNB/USD

BNB prints a red candle on the 4-hour chart following its decline from $652 to $644. Like on ADA, the latest correction may be the start of a massive downtrend.

Before the latest correction, BNB saw notable increases over the last 24 hours. It gained almost 4% on Monday and continued the uptick on Tuesday. However, the candle representing the current session on the 1-day chart is smaller than the previous one.

In addition to indicating a drop in volatility, it also signifies a decline in buying volume. Wednesday may be bearish for BNB if the current selling pressure worsens. It may retrace to $625 in the coming hours.

SOL/USD

Like ADA, Solana has been on the rise over the last two days.  On Monday, it gained over 4% and surged to a high of $87. It continued its uptrend on Tuesday and trades up by over 3%.

It recently broke above $88 but sees a slight retracement at the time of writing. On the 4-hour chart, SOL prints a red candle at the time of writing. The bollinger bands suggest the decline will continue, with prices retesting key support.

One such is the $84 support. If the bulls fail to defend this barrier, a drop below $82 will follow.

DOGE/USD

On the 4-hour chart, the latest candle shows a 3% decline. Before this drop, it surged to $0.10, gaining over 5%.

On the 1-day chart, the memecoin is up by over 5%. However, the candle representing Tuesday shows that the asset has shed almost half of its previous gains. As selling volume increases, DOGE may retrace in the coming days.

RSI on the 4-hour chart explains why the altcoin is currently declining. It was overbought, with the metric peaking at 77. Although it is 60 at the time of writing, the relative strength index is far from the level at which it would rebound. Doge may hit $0.090 before rebound.

ADA/USD

The 4-hour chart shows that ADA surged by over 3% during the previous session. However, it is currently close to erasing the gains as it experienced a wave of selling pressure.

Previous price movements indicate a high chance of rebound at the current price, as there is notable demand concentration at $0.26. If the bulls fail to defend this mark, prices may retrace to $0.25.

The bollinger bands support this prediction as ADA recent retraced after it broke out

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