Price Prediction 3/13: BTC, ETH, BNB, XRP, SOL, DOGE, HYPE

 HYPE recently displaced Cardano in the top 100. It is now the tenth-largest asset after several days of consistent increases.

The altcoin continued its uptrend in the early hours of Friday, surging to a new weekly high. It remains to be seen if the uptrend will last the entire day. However, HYPE is experiencing one of its largest weekly increases.

Similarly, the global cryptocurrency market cap has seen notable surges over the last four days. The uptrend is nearing its fifth consecutive day, and valuations are approaching key resistance. It remains to be seen if it will flip the mark in the coming hours.

Nonetheless, the bollinger bands on the 1-day chart suggest a slim chance of the breakout happening. The market cap recently moved closer to the upper band, indicating that the uptrend is nearing its end.

Amid the BB’s warnings, fundamentals offer another shot at a breakout. The US BLS will release a flurry of economic reports in the coming hours. Some of which are the PCE and job openings. If they come out positive, several cryptocurrencies will surge even higher.

Nonetheless, River is gearing up to be the top gainer, surging 11% in the early hours of Friday. Will other assets put up a fight? Let’s see how some cryptocurrencies in the top 10 will perform.

BTC/USD

BTC is trading at $71,500 at the time of writing, surging almost 2% above its opening price. It had a notable spike in buying pressure in the early hours of Friday. However, it remains to be seen if the bulls will sustain the upward momentum throughout the day.

Concerns about a further retracement increase as the 4-hour chart shows it recently tested a key resistance level. On Tuesday, the apex coin saw notable selling congestion at $71,775, causing it to spend the next two days below $71,000.

It recently retested $72k and failed to decisively flip it. If the bearish trend continues, a significant decline may follow. The bollinger bands on this scale also warn that a correction is overdue, and the price may retreat below $68k before rebounding.

Nonetheless, a previous analysis predicted an attempt at $74k in the coming hours. It hinges on remaining stable above $72k.

ETH/USD

The 1-day chart shows that Ethereum has been on an uptrend since Monday. The bulls sustained the upward momentum, resulting in no red candles.

However, volatility over the last two days was lower than on the first two days of the week. ETH had a significant spike a few hours ago, leading to a new weekly high like HYPE. Nonetheless, it has shed almost half its gains.

The 4-hour chart warns that the decline may worsen in the coming days. A closer look at the relative strength index shows it recently retraced to a key level where several other reversals occurred. The metric continues downward until it rebounds at 50.

If the trend repeats, ETH will experience notable selling pressure in the coming days. Previous price movement shows notable demand concentration at $2k. Failure to defend this mark will send the altcoin to $1,950.

BNB/USD

BNB is having its biggest hike since Monday. It trades over 2% above its opening price at the time of writing. A green close on Friday will mark its fifth consecutive day of uptrend.

Nonetheless, it approaches a key level at the time of writing that may threaten further increases. Last week, it faced a massive correction at $665, resulting in a sharp decline.

It is at the barrier, and the bulls are struggling to maintain the upward momentum. On the 4-hour chart, the relative strength index is currently at 68, close to being overbought. It also indicates that BNB is due for correction. A drop below $640 may occur in the coming days.

XRP/USD

On the 1-day chart, XRP is having its biggest surge. It is trading up by almost 4% and shows no signs of slowing down.

On the 4-hour chart, it has been rising since the start of the day. It is currently printing one of its largest candles on this scale, suggesting that the bulls are still in control. However, RSI warns that the upward momentum will wane.

The metric is at 66 at the time of writing. Further price increases will send it above 70, making XRP overbought. A notable sell-off will follow, resulting in a drop below $1.40.

SOL/USD

A previous analysis predicted a surge to $92 this week. The 4-hour chart shows that Solana surged above $91 a few hours ago. However, the probability of a surge above $92 in the coming hours is low as the bulls grapple with notable selling pressure at the time of writing.

If the trend persists, further decline is inevitable. Previous price action suggests it may retrace to below $85 in the coming days.

Interestingly, the bollinger bands indicate that the uptrend is nearing its end. The recent attempt at $92 saw SOL break out of the bands, signalling impending retracement.

DOGE/USD

Dogecoin has been mostly bullish over the last five days, like HYPE. It is also having one of its biggest surges on Friday, peaking at $0.098.

However, the 4-hour chart shows that its upward momentum is gradually waning. Its latest candle, although green, is significantly smaller than the previous one. If the bulls increase buying, the memecoin may retest in its seven-day high at $0.10.

Conversely, the bollinger bands suggest an impending correction is on the horizon. If this plays out, a retracement to $0.090. Nonetheless, prior price movements indicate significant demand concentration around $0.092.

HYPE/USD

While discussing the possibility of a surge above $38 within the next seven days, one analysis noted that several indicators are flipping bearish, diminishing the chances.

Nonetheless, HYPE peaked at $38.4 a few hours ago and retraced shortly after. The negative indicators on the 1-day chart are still blaring warnings, suggesting a massive correction will soon follow.

The negative readings are also present on the 4-hour chart. For example, the relative strength index indicates that HYPE was previously overbought. The ensuing drop below $37 is in response to this reading.

Additionally, the bollinger bands warn that a reversal is due. If that happens, the altcoin will retrace as low as $34 before rebounding. 

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