Below is the price analysis of the top coins by market capitalisation listed on Tokenize Xchange:
Bitcoin is Trying Hard
March is definitely one of the exciting months where Bitcoin made the headlines with its $4,000 breakthrough.
After hitting $4,000 resistance level on 17 March, Bitcoin has been hovering around $4,000 for almost a week.
If ever the trend turns bearish, the price of Bitcoin could possibly plunge to $3,355 based on the 50-day SMA.
On the other hand, if the Bitcoin price movement could maintain a continuous upward trend, the price could rally up to $4,250 which is another major resistance level. Bitcoin may possibly rise up to at least $5,000 if Bitcoin can break through $4,250.
Suggested Stop Loss: $3,500
Since the hard fork back in February, the price of Ethereum has dropped tremendously when the bullish crypto sentiment diminished. The price had fallen to around $138 and formed a support area at $130. Based on Ethereum’s price movement, it is still considered an upward trend. If Ethereum is able to hit $148, the price might rise to $168 like the price back in February.
The worst case we can expect is that it may plunge to $125 if ever the trend becomes bearish.
Suggested Stop Loss: $125
Litecoin, the Lonely Bull in the Crypto Winter
Litecoin is definitely one of the top coins to watch this year despite the bearish market. Litecoin has increased by more than 50% to date from the beginning of the year. Litecoin looks strong by maintaining above $50 support level. This support level has been formed since back in September 2018.
It’s been hoping that Litecoin could hit $64 and keep soaring high to $69. The overall outlook on Litecoin is positive as Litecoin is one of the best-performing coins during this winter time.
Suggested Stop Loss: $50
Bitcoin Cash Joins the Price Rally
Bitcoin Cash joins the price rally by moving upward consistently after Bitcoin broke through its $4,000 resistance level. The bullish crypto sentiment helped to lift the price from $120 to $164. Good news such as acceptance of Bitcoin Cash as the mode of payment by Swiss online retailer — Digitec Galaxus on 19 March has further strengthened the bullish status of Bitcoin Cash and successfully formed a support area above $150. The next challenge of Bitcoin Cash would be breaking through the $168 resistance level.
Suggested Stop Loss: $130
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Tokenize Xchange. The opinion formed is designed to be an informational tool and reference only, and when used alone, do not constitute investment advice. Every investment and trading move involves risk, you should conduct your own research when making a decision.