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Shiba Inu

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 <p class=""><strong>The Bitcoin market faces challenges in maintaining its upward momentum, indicating that price increases are prompting sales in BTC and other cryptocurrencies.</strong></p>
 <p class="">The inability of Bitcoin to capitalize on its significant recovery on March 20 suggests that the market is experiencing sales during temporary market recoveries. This trend has temporarily soured market sentiment, leading to consecutive withdrawals from spot Bitcoin exchange-traded funds (ETFs) over four days, as reported by Farside Investors.</p>
 <p class="">Nevertheless, the upward trend in Bitcoin’s market has not concluded, as per an <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by CryptoQuant. The firm, specializing in on-chain data analytics, pointed out that the end of a bull market is typically marked by “84%-92% investment” from short-term holders, which is presently at 48%.</p>
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   <figcaption class="wp-element-caption"><em><sub>Crypto market data daily view. Source:&nbsp;</sub></em><sub><em>Coin360</em></sub>
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 <p class="">The correction before the&nbsp;Bitcoin Halving&nbsp;is a healthy sign for the bull market’s long-term sustainability because parabolic moves are rarely sustainable. Every dip shakes out the weak hands, allowing the stronger ones to add to their positions.</p>
 <p class="">Will Bitcoin and altcoins continue their correction, or is it time for the recovery to begin? Let’s analyze the charts of the top 10 cryptocurrencies to find out.</p>
 <h2 class="wp-block-heading" id="bitcoin-btc-market-analysis">Bitcoin (BTC) Market Analysis</h2>
 <p class="">The Bitcoin market rebounded sharply off the 38.2% Fibonacci retracement level of $61,736, indicating that traders view the dips as a buying opportunity.</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/8baddc09aacd824ff5c7145a75d0f99b.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em><sub>BTC/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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 <p class="">The 20-day exponential moving average (EMA) has flattened out, and the relative strength index (RSI) is just above the midpoint, suggesting a range-bound action in the near term. The BTC/USDT pair may face resistance at $69,000 and support at $60,775.</p>
 <p class="">A consolidation near the high is a positive sign, showing the bulls are holding on to their positions and not rushing to the exit. A break above $69,000 could open the doors for a retest of the all-time high at $73,777.</p>
 <p class="">The downside support is $60,775, followed by the 50-day SMA ($57,623). Buyers are expected to defend this zone with vigour.</p>
 <h2 class="wp-block-heading" id="ether-eth-market-analysis">Ether (ETH) Market Analysis</h2>
 <p class="">Ether snapped back from the 50-day SMA ($3,161) on March 20, but the bulls could not push the price above the 20-day EMA ($3,537).</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/8d22a306cdb41df0af0f1c8c9a441a8c.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em><sub>ETH/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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 <p class="">The ETH/USDT pair turned down from the 20-day EMA on March 22, indicating that the sentiment has turned negative and traders are selling on rallies. Sellers will make one more attempt to break the 50-day SMA support. If they succeed, the pair may collapse to $2,717.</p>
 <p class="">Instead, if the price rebounds off the 50-day SMA, it will signal that the pair may remain between the moving averages. The bullish momentum could pick up after the pair rises above $3,700. The pair may then reach the overhead resistance at $4,100.</p>
 <h2 class="wp-block-heading" id="bnb-market-analysis">BNB Market Analysis</h2>
 <p class="">BNB&nbsp;<a target="_blank" rel="noreferrer noopener">turned up from the 20-day EMA ($520) on March 20, but the relief rally faces resistance near $590.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/ec8c177c2b6a39fee87183d2913a319f.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>BNB/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The long wick on the March 22 candlestick shows selling near $590. The bears will again try to sink the price below the 20-day EMA and open the gates for a drop to the breakout level of $460. The bulls are likely to aggressively buy at this level.</p> <p class="">On the upside, a break above $590 could push the BNB/USDT pair to the stiff overhead resistance at $645. The uptrend may continue if this resistance is removed, and the pair could rally to $692.</p> <h2 class="wp-block-heading" id="solana-sol-price-analysis">Solana (SOL) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Solana&nbsp;</a><a target="_blank" rel="noreferrer noopener">witnessed solid buying at the 20-day EMA ($163) on March 20, but the bulls could not drive the price above $205.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/aca74fe0179686da962e8ff482a0c8d7.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>SOL/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The failure to clear the overhead resistance shows that the bears are active at higher levels. If the price continues lower and breaks below the 20-day EMA, it will signal an advantage to bears. The SOL/USDT pair could slump to the strong support at $126.</p> <p class="">Contrary to this assumption, if the price turns up from the current level or the 20-day EMA, it will indicate that bulls continue to buy on dips. The pair could then rise to $205. If this level is scaled, the pair may ascend to $267.</p> <h2 class="wp-block-heading" id="xrp-price-analysis">XRP Price Analysis</h2> <p class="">XRP&nbsp;bounced off the uptrend line on March 20 and rose above the 20-day EMA ($0.62) on March 21, signalling buying at lower levels.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/1b7fa6ae5693571df7582e2d0e002671.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>XRP/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">If buyers shove the price above $0.67, the XRP/USDT pair will likely pick up momentum and travel to the formidable resistance at $0.74. This is a critical level to watch out for because a break above it could signal the start of the next leg of the uptrend to $0.95.</p> <p class="">On the contrary, if the price turns down and maintains below the 20-day EMA, it will suggest that higher levels are attracting sellers. The pair may oscillate between $0.67 and the uptrend line. A slide below the uptrend line could tug the pair to $0.52.</p> <h2 class="wp-block-heading" id="cardano-ada-price-analysis">Cardano (ADA) Price Analysis</h2> <p class="">The bulls successfully defended the $0.57 support in Cardano&nbsp;on March 20 but are struggling to sustain the price above the 50-day SMA ($0.63).</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/a6945dc43a5135b4d695710adf71e51c.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>ADA/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The 20-day EMA ($0.67) has been turned down, and the RSI is in negative territory, indicating that bears have the upper hand. Sellers will make another attempt to sink the price below the $0.57 support. If they manage to do that, the ADA/USDT pair could drop to $0.53 and later to $0.46.</p> <p class="">On the other hand, if the price rebounds off the $0.57 support, it will suggest that the bulls are defending the level. The pair will then make another attempt to rise to the 20-day EMA. A break above $0.70 will indicate that the correction is over.</p> <h2 class="wp-block-heading" id="dogecoin-doge-price-analysis">Dogecoin (DOGE) Price Analysis</h2> <p class="">Dogecoin’s&nbsp;relief rally rose above the 20-day EMA ($0.15) on March 20, indicating solid buying at lower levels.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/3239332fa4f264442c2591802448160a.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>DOGE/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The bulls are trying to sustain the price above the 20-day EMA. If they do that, the DOGE/USDT pair will again attempt to rise above $0.16 and challenge the overhead resistance of $0.19. This level may prove to be a difficult hurdle to cross. If the price decreases from this resistance, the pair may remain range-bound between $0.12 and $0.19.</p> <p class="">The next leg of the uptrend is likely to begin after buyers kick and maintain the price above $0.19. The pair may then rise to $0.23.</p> <h2 class="wp-block-heading" id="avalanche-avax-price-analysis">Avalanche (AVAX) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Buyers have managed to keep Avalanche&nbsp;</a><a target="_blank" rel="noreferrer noopener">above the breakout level of $50, suggesting they are trying to flip the level into support.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/dbdf31b1338b9f0a6c0f9cec737d9d20.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>AVAX/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The marginally rising 20-day EMA ($51) and the RSI in the positive territory show that the bulls have the edge. The AVAX/USDT pair could gradually increase to the $62 to $65 resistance zone. Sellers are expected to protect this zone with vigour. If the price drops from this zone, the pair may consolidate between $50 and $65 for a few more days.</p> <p class="">The uptrend could resume after buyers overcome the obstacle at $65. The pair could, after that, climb to $75. If the price plunges below $50, the trend will favor the bears.</p> <h2 class="wp-block-heading" id="shiba-inu-shib-price-analysis">Shiba Inu (SHIB) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">The failure of the bulls to push Shiba Inu&nbsp;</a><a target="_blank" rel="noreferrer noopener">above the breakdown level of $0.000029 suggests that bears are selling on rallies.</a></p><a target="_blank" rel="noreferrer noopener">
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/f36ca8458c4e790da17c688c39329429.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>SHIB/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The flattish 20-day EMA ($0.000027) and the RSI just above the midpoint suggest a balance between supply and demand. This equilibrium will tilt in favour of the bulls if the price rises above the resistance line. The SHIB/USDT pair could rise to $0.000035 and eventually to the strong resistance at $0.000039.</p> <p class="">Alternatively, if the price continues lower and breaks below $0.000023, the decline could extend to the 50-day SMA ($0.000018).</p> <h2 class="wp-block-heading" id="toncoin-ton-price-analysis">Toncoin (TON) Price Analysis</h2> <p class="">The bulls are trying to push Toncoin (TON) to $4.60, but the long wick on the March 22 candlestick shows stiff resistance from the bears.</p>
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/e4bd6565bb6095927546dd51f09ec8be.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>TON/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The upsloping 20-day EMA ($3.54) and the RSI near the overbought zone indicate that bulls are in control. If buyers do not give up much ground from the current level, the possibility of a break above $4.60 remains high. If that happens, the TON/USDT pair could start the next leg of the rally at $5.64.</p> <p class="">Conversely, if the price turns sharply from the current level, the pair will likely find support at the 20-day EMA.</p> <h4 class="wp-block-heading">Source – Rakesh Upadhyay</h4> </a>
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<p><a target="_blank" rel="noreferrer noopener">Source: </a><a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/latest-market-overview-22nd-mar-btc-eth-bnb-sol-xrp-ada-doge-avax-shib-ton-tbt86090.html">https://thebittimes.com/latest-market-overview-22nd-mar-btc-eth-bnb-sol-xrp-ada-doge-avax-shib-ton-tbt86090.html</a></p>

Latest Market Overview 22nd Mar: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TON

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