European stock markets tumbled on March 24th, mainly because of renewed fears that the woes of commercial banks are likely to look up again. The latest sales came after Barclays' credit default swaps (CDS) soared on March 23rd without already knowing the metal catalyst. Credit default swaps provide customers with maintenance of specific risks. This sent the shares of the German bank down 11%.
European Central Bank President Nazar tried to reassure the sales market, pointing out that the European baking industry was mainly strong because of the regulatory reforms and innovations introduced in the wake of the international financial crisis. This should be one of the reasons for the steady recovery of US stocks from the intraday bottom.
While the plight of commercial banks has been good for the price of BTC, this trend could stop if it spreads. In the anxiety phase, traders sell property to reduce risk. At that time, if the BTC does not fall below the support zone of $25000-20000, it will indicate that the bear market in the stock market is over.
Will there be a small adjustment in Bitcoin and most key alternative currencies? What are the important basic bits to consider? Let's take a look at the data charts of the top ten digital currencies to find out.
BTC formed the candlestick of the day on March 23, indicating that it remains to be seen between buyers and sellers. Double heads are looking forward to expanding the increase, but the short order is in no mood to ease. This also keeps the price within a small range.
Generally speaking, the close sideways arrangement around the local higher is a sign that traders are in no hurry to make a profit, as they expect the upward trend to continue. The rising 20-day index moving moving average ($25595) and the relative strength index (RSI) around the overbought area indicate that the double head is dominant.
If the price of gold rebounds strongly from $26500, Shuangtou will try to gradually bounce back again. It could push the price up to $30, 000 and then to $32500.
The support line of $25250 is still an important level, as falling below and closing at the bottom often means there is a big bull market trap. Subsequently, the BTC/USDT pair is likely to fall towards the 200-day simple moving average, or SMA ($20095).
On March 23rd, medical ether (ETH) rose above the head pressure level of $1842, but for the long bulbs in the candlestick, both ends could not keep rising.
Short orders are trying to strengthen their position by pulling prices towards the 20-day moving average ($1693). This is still the key level to be vigilant in a downturn.
If prices rebound from this level, it will show that traders once again see a fall in the 20-day moving average as a buying opportunity. Shuangtou will then try again to remove the headwinds, pushing the price up to $2000.
If the gold price falls below the 20-day moving average, this good news opinion will be denied for a short time. It may drag the price to $1600 and then from $1461.
BNB (BNB) rebounded from its 20-day moving average ($316) on March 23, but Duanlong has been trying to maintain a rebound in relief. This shows that the empty order has seized every good opportunity for a small recovery.
Merchants will try to lower prices below the 20-day moving average. If they do, the BNB/USDT pair is likely to fall to $300 and then to 200-day SMA ($289). Shuangtou is expected to vigorously defend the area between the 200-day moving average and $265.
Or, if prices rebound from the 20-day moving average, it will show that hot plates are still active and traders have bought and reduced prices. The foreign exchange currency may get mechanical energy above $346, and the next stop on the upstream is $400.
XRP (XRP) continued to produce intra-day candlestick on March 22nd and 23rd, indicating that buyers and sellers are hesitant.
For Shuangtou, a secondary subjective factor is that these people have defended the 200-day SMA ($0.40) well over the past three days. This shows that 200d SMA can now be used as a new low limit.
Sometimes, after large fluctuations, prices are usually sorted out sideways within a few days, and then fix the trend. In this case, customers will have to push the price above $0.51 to mark the beginning of the next uptrend. The downside is that if you fall below the moving average, you may retest $0.36.
Since March 21, Duanhead has kept Smano's daily average (ADA) above the moving average, but has not yet reached the head-shoulder turning resistance level. This means that empty orders are sold around $0.39.
The 20-day moving average (US $0.34) is trying to happen, with RSI slightly higher than the exchange rate midpoint, indicating a slight advantage of the double head. If the price warms up from the 20-day moving average, the probability of rebounding to the resistance level will also increase. Improving the shape of hacks represents the gradual trend of a new round of potential gains.
Conversely, if the gold price falls below the 20-day moving average, it will indicate that the short order is trying to start all over again. Falling below $0.30 is likely to speed up sales and reduce the price to $0.24.
Duanhead has been trying to push Dogecoin (Doge) above its 200-day moving average ($0.080), but short orders have not been taken lightly.
The next step for short orders is to try to pull the price to the strong support line of $0.07. A strong rebound from this level will show that the Doge/USDT pair is likely to be limited to between $0.07 and 200-day SMA for a longer period of time.
To improve and close above the 200-day moving average is undoubtedly the first sign of double defeating the empty single. It may gradually rise to the friction resistance area on the upright head of $0.10 to $0.11. Conversely, if there is a crack in the support line of US $0.07, the foreign exchange currency could plummet to US $0.06.
POLGON's Ma Jiqi (Ma Jiqi) has been trading below the 20-day moving average since March 20. This shows that the empty order is trying to turn the 20-day moving average into friction resistance.
One of the primary and secondary subjective factors beneficial to double heads is that short orders cannot break the price below the strong support zone of $1.05 and the 200-day moving average ($0.96). This shows that there is strong stock buying at the medium level.
If customers push prices above the 20-day moving average, the Marjic / USD pair is likely to rise to the top pressure level of $1.30. That would suggest that the currency's ups and downs between $1.05 and $1.30 are likely to continue for some time. The promotion of this section is likely to open the next round of long-term trends.
Solana's SOL price fell further, falling into the middle of the moving average at this stage. This shows that bulls and bears are hesitant about the specificity of the next step.
The similar 20-day moving average ($21.17) and the RSI around the midpoint do not have much advantage over bulls and bears.
To gain the upper hand, customers will have to push prices above the friction area above the downward trend line to $27.12. If they achieve the extreme, it will mean a hidden shift in the trend of development. Subsequently, the SOL/USDT foreign exchange currency is likely to try to rebound to $39.
Conversely, if the price falls below the 20-day moving average, the short order will try to drag the foreign exchange currency to the key support zone between $18.70 and $15.28.
In the past few days, Polkadot's DOT has been close to its 200-day moving average ($5.98). The double head can not immediately rebound from the key support line, indicating a lack of requirements in higher quality.
This increases the risk of falling below the 200-day moving average. If that happens, the DOT/USDT pair is likely to fall to $5.15. This is an important base level that deserves a lot of attention, as falling below this support line will open the door to a retest of $4.22.
If the double head promotes and keeps the price above 61.8% Fibonacci back above $6.85, such short-term bullish views will be ineffective. If the locus is dragged out, its pair is likely to touch the resistance level of the developing Hallows form.
Litecoin is starting all over again. This trend increased after the double head pushed the price of gold above the 20-day moving average ($85) on March 22nd.
RSI has soared to coincide with the region, and the 20-day moving average has appeared, indicating that the double head has the upper hand. Customers will try to test the head friction resistance of $106, and empty orders are likely to create strong defenses there. If the duo clears this barrier, the LTC/USDT pair is likely to rebound to $115,125 and then to $125m.
On the contrary, if the price of gold turns down from $106 again, it will imply that the short order will not compromise. It may bring the price down to the 20-day moving average. If it falls below the support line, it will indicate that a segment is likely to occur in a short period of time.
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