Crypto Price Analysis 3-27: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CELESTIA: TIA, CARDANO: ADA, AAVE: AAVE, FILECOIN: FIL

The crypto market dipped into the red over the past 24 hours as cryptocurrencies, including Bitcoin (BTC), registered notable declines. As a result, the crypto market cap dropped to $2.86 trillion. BTC, which peaked at $88,254 on Wednesday, registered a sharp decline, falling to a low of $85,929 earlier in the session. 

However, it rebounded from this level, managing to reclaim $87,000 and move to its current level of $87,300. Meanwhile, Ethereum (ETH) is down almost 2%, struggling to stay above $2,000. The world’s second-largest cryptocurrency had dipped to a low of $1,984 before recovering to its current level. Ripple (XRP) registered a substantial decline, falling nearly 4% to $2.36, as bearish sentiment took hold. 

Solana (SOL) has also registered a substantial decline over the past 24 hours, dropping over 3% to $138, while Cardano (ADA) and Chainlink (LINK) also registered notable declines. Stellar (XLM), Hedera (HBAR), and Litecoin (LTC) also registered declines over the past 24 hours. However, Toncoin (TON), Dogecoin (DOGE), and Polkadot (DOT) bucked the bearish trend and registered notable increases. 

Crypto Market Update 

The crypto market registered a marginal decline despite BTC rebounding from around $85,900 to reclaim the $87,000 price level. The flagship cryptocurrency traded between $85,000 and $88,000 during the last 24 hours, with the 24-hour trading volume currently at $78 billion, marking an increase of over 3%. Analysts believe BTC is holding strong after finding support around $85,000 and showing signs of a potential move towards $88,000 and beyond. BTC’s recent momentum is driven by consistent inflows into spot Bitcoin ETFs, with the flagship cryptocurrency registering inflows for the eighth consecutive day. 

“Such institutional interest underlines confidence in Bitcoin as a long-term asset, particularly amid macroeconomic uncertainties.”

Meanwhile, Alankar Saxena, founder of Mudrex, believes buying pressure could push Bitcoin towards $90,000. A breakout could trigger liquidations, fueling a rally to a new all-time high. However, for such a scenario to play out, BTC must overcome the resistance at $90,000. 

SEC Drops Ripple Appeal 

The United States Securities and Exchange Commission has dropped its appeal in the Ripple case. The decision marks a significant moment for the crypto industry, bringing years of legal battles to an end. The SEC’s decision not to appeal the 2023 ruling by Judge Analisa Torres finally brings clarity to the issue of whether XRP is a security. According to the ruling, Ripple’s programmatic sales of XRP via secondary exchanges like Coinbase and Kraken did not violate securities laws. However, the direct sale of XRP to institutional investors was deemed a securities violation and resulted in a $125 million fine for Ripple. 

Samson Enzer, partner at Cahill Gordon & Reindel LLP, highlighted the importance of the Ripple case, stating that, unlike previous dropped cases, Ripple’s case had progressed significantly further and covered bigger legal issues. According to Enzer, the dismissal could significantly impact the crypto industry. With the legal battle behind it, markets are turning their attention to the possibility of an XEP ETF. Multiple firms, including Grayscale, WisdomTree, and Bitwise, have filed for XRP ETFs, and there is growing optimism within the industry that the SEC will approve one soon. 

Ethereum Devs Prepare Final Pectra Test

Ethereum developers are preparing for a final Pectra test after it moved to a new testnet following a series of unexpected issues that delayed its mainnet launch. Pectra was expected to hit the Ethereum mainnet in March and was deployed on the Holesky testnet on February 24. However, the upgrade failed to finalize on the network, prompting developers to investigate and address the cause. The update was then rolled out on the Sepolia testnet. However, it encountered errors again, with the situation made worse by an unknown attacker who used an “edge case” to mine empty blocks. Ethereum developers then created a new testnet to better prepare for the upgrade. 

In an interview, the Ethereum Foundation’s protocol support team member Nixo stated that developers had experienced a lot while preparing for the Pectra upgrade. 

“I think that people are nervous because we just had two testnets in a row basically have really unexpected issues that were not fundamentally related to how it would have gone on mainnet.”

She added that exhaustion is settling in, especially for consensus layer developers, with Hoodi marking the third attempt to test the Pectra upgrade. 

“I think the consensus layer devs are especially, but also somewhat the execution layer devs are exhausted right now.”

Nixo believes the Holesky testnet failed because it had never been tested with such a small validator set on the canonical chain. 

“As decentralized as Holesky is, it has never been tested at so few validators on the canonical chain.”

When about 10% was left on the canonical chain, validators overloaded their RAM and memory as they kept the state for 90% of validators on the non-canonical chain. According to Nixo, they had never seen this before, “and so the consensus layer devs all of a sudden had this problem where they had to change a bunch of things, and I think that that was really tiring for them.”

However, despite the recent testnet challenges, Ethereum’s broader development continues to progress. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) held firm above $87,000 despite facing selling pressure on Tuesday and falling to a low of $85,865 before recovering to reclaim $87,000. BTC remained confined between $85,000 and $88,000 over the past 24 hours, with the 24-hour trading volume for the flagship cryptocurrency sitting around $26 billion. BTC has remained relatively quiet since Donald Trump announced a 25% tariff on all foreign-made cars and auto parts starting from April 2. The tariff policy aims to incentivize companies to produce vehicles within the US and bolster domestic car manufacturing. However, Trump’s tariffs have raised concerns about a potential global trade war, leading to a broader risk-off sentiment in the financial market. As a result, investors have moved away from volatile assets like cryptocurrencies, replacing them with safe-haven assets like gold. 

Recent developments have led to doubts about BTC’s ability to reclaim $90,000, with Alex Kuptsikevich, chief market analyst at FxPro, stating, 

“The Bulls still have to prove their strength by overcoming an important technical level. But worryingly, recent gains have come on low trading volume. This could be a setup to trap buyers and trigger a sharp sell-off in the next move. Bitcoin pulled back below $87,000 on March 26, hesitant to storm the 50-day moving average around the $90,000 level. This curve is pointing downwards and will soon cross the 200-day average. Technically, this would form a ‘death cross’, but we place greater importance on the upward price trend seen over the past three weeks.”

Edu Patel, co-founder and CEO of Mudrex, believes Bitcoin is recovering and holding above $87,000 after two months of consolidation. Patel stated, 

“Macroeconomic factors, including easing monetary policy and Donald Trump’s readiness to modify his tariff position, have contributed to the market recovery. The alteration toward a dovish monetary policy indicates positive market conditions for all markets, including Bitcoin. With this, retail investors are re-entering the scene, further helping BTC build momentum. On-chain data reveals a surge in transactions and wallet activity, often signaling major price movements.”

BTC registered a sharp decline last Tuesday as it plunged to an intraday low of $81,187. However, it recovered from this level on Wednesday as markets rallied, rising over 5%, surging past the 20 and 200-day SMAs and settling at $86,878. However, the rally was short-lived as BTC fell over 3% on Thursday, slipping below the 20 and 200-day SMAs and settling at $84,215. Price action remained muted on Friday and Saturday as the price registered marginal declines and settled at $83,822. However, sentiment changed on Sunday as buyers returned to the market. As a result, BTC rose almost 3%, going past the 20 and 200-day SMAs and settling at $86,116.

Source: TradingView

BTC started the current week on a bullish note as it surged to an intraday high of $88,839. However, it could not stay at this level and settled at $87,523, ultimately registering an increase of 1.63%. BTC lost momentum on Wednesday as it encountered volatility and selling pressure. As a result, it registered a marginal drop and settled at $87,417. Volatility and selling pressure persisted on Wednesday, and the price fell almost 1% to $86,942. The current session sees BTC up nearly 1% and trading at $87,499. Buyers will look to retain control and push the price towards $90,000. A break above $90,000 could set BTC on a course to $100,000. However, the flagship cryptocurrency could slip below the $85,000 support level if sellers regain control. 

Ethereum (ETH) Price Analysis 

Ethereum (ETH) registered a marginal decline despite starting the week on a bullish note, dropping over 3% on Tuesday and Wednesday. ETH faces considerable downward pressure as it failed to move past $2,100 and struggles to stay above $2,100. Ethereum ETFs have also seen consistent outflows, indicating a cautious sentiment among investors and weighing on the price. Riya Sehgal, Research Analyst at Delta Exchange, stated, 

“Adding to the market's volatility is the uncertainty around US trade policy. Trump's potential tariff measures, with the April 2 deadline looming, contribute to broader market unease. Until more clarity arises, crypto markets may see sideways price action.”

Ethereum’s struggles with the Pectra upgrade have also impacted investor confidence. Developers at Ethereum are under increasing pressure as the Pectra upgrade moves to a new testnet after running into a series of unexpected issues that have delayed its mainnet deployment. Pectra was supposed to hit the Ethereum mainnet in March. It was deployed on the Holesky testnet on February 24 but failed to finalize on the network. The update was then rolled out on the Sepolia testnet on March 5 but ran into errors again. 

ETH started the previous week on a positive note, rising over 2% and settling at $1,928. The price registered a marginal increase on Tuesday and settled at $1,933 despite considerable selling pressure. Bullish sentiment intensified on Wednesday as ETH surged over 6% to reclaim $2,000 and settle at $2,058. However, buyers lost momentum after reaching this level. As a result, ETH fell nearly 4%, slipping below $2,000 and settling at $1,983. Sellers retained control on Friday as ETH dropped almost 1% and settled at $1,965.

Source: TradingView

Buyers returned to the market over the weekend as ETH rose 0.79% on Saturday and 1.33% on Sunday to end the weekend at $2,007. Bullish sentiment intensified on Monday as ETH rose almost 4% to move past the 20-day SMA and settle at $2,082. However, ETH lost momentum after reaching this level and registered a marginal drop to settle at $2,068. Bearish sentiment intensified on Wednesday as ETH dropped almost 3% and settled at $2,010. The current session sees ETH up nearly 1% as it looks to push above $2,100. A break above this level could take ETH towards $2,500. On the other hand, sellers will look to retake control and drive ETH below $2,000.

Solana (SOL) Price Analysis

Solana (SOL) has been on a steady upward trajectory since Friday, crossing the 20-day SMA and reaching a high of $147. However, it lost momentum as it neared the $150 mark, indicating sellers are active at upper levels. SOL started the previous week on a bullish note but was back in the red on Tuesday, dropping to $125. However, sentiment changed on Wednesday as markets rallied. As a result, SOL rallied over 8% and settled at $135. SOL lost momentum on Thursday, allowing sellers to take over. As a result, the price plunged nearly 6% and settled at $127.

Source: TradingView

Price action remained muted on Friday and Saturday as SOL registered marginal increases and settled at $128. SOL continued to push higher on Sunday, rising 3.44% to move past the 20-day SMA and settle at $132. Bullish sentiment intensified on Monday as SOL rallied over 6% to cross $140 and settle at $141. Buyers retained control on Tuesday, allowing SOL to register an increase of a1.94% and settle at $143. However, selling pressure returned on Wednesday, and SOL fell over 4%, slipping below $140 and settling at $137. The current session sees SOL marginally up as buyers and sellers struggle to establish control.

Celestia (TIA) Price Analysis

Celestia (TIA) has seen a substantial rally since the weekend, allowing it to cross key resistance levels and the 20 and 50-day SMAs. TIA had dipped to a low of $3.12 on Tuesday but recovered to register an increase of almost 6% on Wednesday and settle at $3.41. However, it lost momentum after reaching this level thanks to the 20 and 50-day SMAs, which acted as dynamic resistance levels. As a result, TIA dropped almost 2% on Thursday and settled at $3.35. Sellers retained control on Friday as the price fell 1.97% and settled at $3.28. Bullish sentiment returned on Saturday as TIA rose 2.97% to move past the 20 and 50-day SMAs and settle at $3.38.

Source: TradingView

Buying pressure intensified on Sunday as TIA registered an increase of almost 5% and settled at $3.54. Buyers retained control on Monday as TIA started the week positively, rising 2.75% and settling at $3.64. Buyers retained control on Tuesday, and TIA rose over 1% to settle at $3.73. Despite the positive sentiment, TIA lost momentum on Tuesday, dropping 2.75% to an intraday low of $3.47 before settling at $3.59. The current session sees TIA up over 4% and trading at $3.73.

Cardano (ADA) Price Analysis

Cardano (ADA) has been trading sideways since its unprecedented rise of over 70% on March 2 as buyers got exhausted. As a result, ADA has been trading between the moving averages, between $0.70 and $0.80. ADA rallied on Wednesday, rising almost 6% and settling at $0.745. However, it lost momentum on Thursday and dropped nearly 4%, settling at $0.717. Sellers retained control on Friday, with the price dropping 1.81% to $0.704. The weekend began with ADA registering a marginal decline on Saturday and settling at $0.702.

Source: TradingView

However, sentiment changed on Sunday as ADA rose 1.10% to move past the 20-day SMA and settle at $0.710. Bullish sentiment intensified on Monday as the price registered an increase of over 3% and settled at $0.732. Buyers retained control on Tuesday as ADA moved past the 50-day SMA and settled at $0.746. However, the bulls lost momentum on Wednesday as ADA turned bearish after reaching an intraday high of $0.775, dropping over 2% and settling at $0,730. The current session sees ADA up over 1% and trading at $0.74.

Aave (AAVE) Price Analysis

Aave (AAVE) rallied with the rest of the market on Wednesday, rising over 7% and settling at $182. However, the rally was short-lived as the price fell to a low of $171 before settling at $178, ultimately registering a drop of over 2%. Sellers retained control on Friday as AAVE registered a marginal drop. Sentiment changed on Friday as the price rose almost 1% and settled at $179. Bullish sentiment intensified on Sunday as AAVE rose nearly 3% to move past the 20-day SMA and settle at $185

Source: TradingView

Buyers retained control on Monday, and AAVE registered an increase of 3.13% to settle at $190. However, AAVE’s rally lost steam after reaching this level, allowing sellers to take over. As a result, the price dropped over 2% on Tuesday and settled at $186. Selling pressure intensified on Wednesday, with the price dropping nearly 5% and settling at $177. The current session sees AAVE up almost 5% and back above the 20-day SMA as buyers look to push the price above $200.

Filecoin (FIL) Price Analysis

Filecoin (FIL) rallied on Wednesday and surged past $3 and the 20-day SMA after an increase of over 6%. However, the rally lost momentum on Thursday. As a result, FIL dropped 1.60% and settled at $3.05. Bearish sentiment intensified on Friday as FIL plunged nearly 5%, slipping below $3 and the 20-day SMA and settling at $2.90. Buyers returned to the market on Saturday, with the price rising 2.88% to move past the 20-day SMA and settle at $2.99. Buyers retained control on Sunday as FIL registered an increase of 1.17% to reclaim $3 and settle at $3.02.

Source: TradingView

FIL started the current week on a bullish note, registering an increase of over 3% and settling at $3.12. However, it lost momentum after reaching this level, registering only a marginal rise on Tuesday before dropping 3.50% on Wednesday and settling at $3.02. The current session sees FIL marginally up as buyers and sellers struggle to establish control. Sellers will look to retake control and drive FIL below $3 and the 20-day SMA. On the other hand, buyers will look to retain control and push the price towards $3.50.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.