Price Prediction 3/27: BTC, ETH, BNB, XRP, SOL, DOGE, HYPE

DOGE is currently grappling with significant selling pressure on Friday, continuing the bearish trend from the previous day.

Nonetheless, it prints a small candle, suggesting the selling pressure is dwindling. Amid the current trend, DOGE is trading down by almost 2%.

However, some indicators on the 4-hour chart suggest that the current decline is far from over. The same reading is also evident in the global cryptocurrency market cap, which took a massive hit on Friday.

On the 1-day chart, it is down by over 3%, slightly higher than the previous day. Amid the decline, indicators on the shorter timeframe are split on the next price direction, with some hinting at a surge and others, further decline.

The crypto market took a turn for the worse on Thursday as fears stemming from actions in the Middle East increased. The US BLS also released key data that came in worse than the previous month, and investors heard hawkish rhetoric from the Fed governor.

Investors are yet to shake off the bearish sentiment, resulting in a spillover into Friday. Several altcoins in the top 100 are heavily bleeding as a result. One such is Siren, which lost almost 50% in the last 24 hours.  Worldcoin also joins the fray, shedding over 9%.

Based on current fundamentals, the market is gearing up for a volatile weekend. Let’s see how assets in the top 10 will perform in the coming days.

BTC/USD

Bitcoin opened Friday at $68,779, but retraced to a low of $65,677. This is the first time in over 14 days that it has retested the mark. Down by over 4%, it is seeing even stronger selling pressure than the previous day.

However, indicators on the 4-hour chart are currently split on the outlook for the next price action. For example, the average directional index is surging and has not approached any established resistance, suggesting the downtrend will continue. If this plays out, the apex coin will slip below $63k in the coming days.

On the other hand, the asset is trading below the bollinger bands. It is expected to rebound following this event. If that happens, prices will climb above $68k. Previous price movements also supports this assertion as there is notable demand concentration at $65k. The bulls may stage rallies afterward.

ETH/USD

Ethereum kicked off the day after several attempts at pulling back Thursday’s losses. The 4-hour chart shows several failed buybacks before a spike in selling pressure in the session starting at 8:00 UTC.

It saw an almost 4% drop during this period, losing the $2k support. The latest decline is not surprising, as a previous analysis noted extreme bearish pressure building on the asset.

Previous price movement suggests that since losing the barrier, a retest of the $1,900 support is almost inevitable. The reading aligns with those from the ADX. The metric is currently surging as prices decline. On closer inspection, it is not near any key levels.

Nonetheless, the relative strength index is at 28 at the time of writing. With Ethereum being oversold, a rebound may be on the horizon. Interestingly, the current candle on the chart is among the smallest, suggesting declining selling pressure.

BNB/USD

BNB is currently trading at $610, down almost 3% from its opening price. The latest decline is unsurprising, as a previous outlook had indicated the possibility of a drop below $620 in the coming days.

At the time of writing, the moving average convergence divergence is still negative, hinting at a higher chance of further decline. If that happens, the altcoin may retrace below $580 this weekend.

However, RSI recently slipped below 30. With the asset oversold, there’s a higher likelihood of a rebound. The last candle on the 4-hour chart was a doji, and the present one is green. They may indicate that buybacks are already underway.

XRP/USD

Like DOGE, XRP is seeing a massive selloff on Friday. It retraced from $1.37 to $1.32. Currently down by almost 2%, the downward momentum is slowing on the 1-day timeframe.

The same holds on the 4-hour chart. A closer look at the image above shows that after the massive decline in the session starting at 8:00, the asset has since bounced off $1.32 twice. It attempted to surge higher a few hours ago.

In response, RSI has trended on a straight line. If the bulls intensify the current momentum, the altcoin may retest $1.38. Conversely, a spike in selling pressure will send prices below $1.30.

SOL/USD

The last 48 hours have been the most bearish for Solana. Like DOGE, it is experiencing notable selling pressure at the time of writing. It also saw a notable decline on Thursday, resulting in a 5% drop.

The 4-hour chart shows that the asset has been declining since the early hours of Friday. The biggest drop happened a few hours ago, when it lost almost 3%. The current candle suggests that selling pressure is increasing again.

If the trend continues, the altcoin will retrace below $80 in the coming days. Conversely, it is oversold, suggesting an increased likelihood of a rebound.

DOGE/USD

On the 1-day chart, DOGE is down by almost 2% on Friday. It continued its decline from the previous day, which saw it shed almost 5%.

However, the current candle on the 4-hour chart suggests that the downtrend may be nearing its end. The previous one was a doji that rebounded at $0.089, marking the second time it’s bounced off this mark.

The pullback also shows growing demand concentration at this level. It remains to be seen if the bulls will stage rallies soon. If they do, prices may surge above $0.092.

Conversely, the average directional index is at 25. Previous movements show an established resistance at 30. This means that DOGE may retrace even lower.

HYPE/USD

A previous analysis identified the $37 support as a make-or-break level. It predicted a drop below this key level in the coming days.

Interestingly, the bollinger bands suggest a reduced chance of this happening. On the 4-hour scale, the asset rebounded off the lower band a few hours ago. The ensuing candles have been above this metric. The bulls may likely intensify buybacks, sending prices above $40.

Conversely, the moving average convergence divergence prints sell signals at the time of writing. It is yet to show any signs of reversal following its bearish crossover on Thursday.

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