Bitcoin (BTC) dropped nearly $ 78,000 on February 28, but lower levels attracted solid purchases by Bulls. The founder and CEO of the cryptotics Ki Young Ju declared in an article on X that the sale after a correction of 30% could be a “noob” error while Bitcoin has reached a new summit of all time after falling 53% in 2021.
Select the whales seem to build a position during the dive. A Bitcoin whale, known as “Spoofy”, bought 4,000 bitcoins worth around $ 344 million when the price was between $ 82,000 and $ 85,000. Crypto Saint Pump analyst said Spoofy builds his “extremely slow” position and can buy more if the markets fall further.
Crypto Market Data Daily View. Source: Corner360
The current correction has not dissuaded the long -term view of Standard Charted. In a CNBC interview, standard research on digital asset research, Geoffrey Kendrick said Bitcoin could get back to $ 200,000 this year and increase to $ 500,000 before President Trump finished his second term.
Could Bitcoin start recovery, drawing altcoins above? Let’s analyze the graphics of the 10 best cryptocurrencies to discover it.
Bitcoin price analysis
Bitcoin closed below $ 85,000 support on February 26, and the Bears successfully defended the level on February 27.
BTC / USDT daily graphics. Source: Cointelegraph / TradingView
The sellers tried to sink the BTC / USDT pair at $ 73,777, but the Bulls bought the DIP at $ 78,258 on February 28. Buyers will try to postpone the price above the resistance area from $ 85,000 to $ 90,000. If they manage to do so, this will suggest that a short -term background can be in place.
Conversely, if the price decreases sharply from the resistance zone to general costs, this indicates the sale on each minor rally. The pair could then come down to vital support at $ 73,777, where buyers should intervene.
Ether price analysis
Ether (ETH) has rebounded on the support of $ 2,111, indicating that the Bulls are trying to maintain the price inside the wide range.
Daily eth / USDT table. Source: Cointelegraph / TradingView
The Bulls will try to stretch the recovery at the 20 -day EMA ($ 2,611), then to the low line. Sellers should aggressively defend the downward trend line. If the price decreases from resistance to general costs, the ETH / USDT pair could retain the level of $ 2,111. If this support cracks, the pair can flow at $ 2,000 and later at $ 1,900.
Unlike this hypothesis, a rupture and a closure above the drop line suggests that bears lose their grip. The pair could reach SMA of 50 days ($ 2,932).
XRP price analysis
XRP (XRP) is removed from the support line of the symmetrical triangle motif on February 26, suggesting that the bears overturned the level in the resistance.
XRP / USDT daily table. Source: Cointelegraph / TradingView
The XRP / USDT pair dropped below $ 2.06 support on February 28, but the Bears could not maintain the lower levels. Buyers will try to push the price above the 20-day EMA. If they can remove it, this will point out that the Bulls are back in the game.
Unlike, if the price drops of 20 days, this suggests that bears remain active at higher levels. This increases the possibility of dropping crucial support to $ 1.77.
BNB price analysis
BNB (BNB) rebounded the support of almost $ 557, indicating that the Bulls are trying to defend the level.
BNB / USDT Daily Chart. Source: Cointelegraph / TradingView
The BNB / USDT pair will try a rescue rally, which should face high sales at the 20 -day EMA ($ 634). If the price drops sharply from the 20 -day EMA, this increases the probability of a rupture of less than $ 557. If this happens, the pair could collapse at $ 500. Buyers should fiercely defend the area between $ 460 and $ 500.
Uplining, a break and a closure above the 20-day EMA suggests that the reduced sales pressure. The pair could then reach the 50 -day SMA ($ 656).
Solana price analysis
Solana (soil) slipped below $ 133 support on February 28, but the long tail on the candlestick shows solid purchases at lower levels.
SOL / USDT DAILY that. Source: Cointelegraph / TradingView
There is a minor resistance at $ 147, but it is likely to be crossed. If the price is more than $ 147, the ground / USDT pair could reach the EMA of 20 days ($ 169). Sellers should pose a strong challenge to the EMA of 20 days, but if the Bulls prevail, the pair could prolong its recovery in SMA of 50 days ($ 201).
This optimistic view will be canceled if the price drops and breaks down below $ 125. The pair could then fall at $ 110.
Dogecoin price analysis
Buyers did not postpone Dogecoin (DOGE) above the support line, suggesting that the Bears overturned the level in the resistance.
DAGE / USDT daily table. Source: Cointelegraph / TradingView
The sale resumed on February 28 and the Bears will try to flow the price at $ 0.15. However, the RSI has slipped into the surveillance area, suggesting that a rescue rally could be at the corner of the street. Buyers will have to push and maintain the Doge / USDT pair above the 20-day EMA ($ 0.24) to start a sustained recovery.
The failure to postpone the price above the 20-day EMA increases the risk of decline to $ 0.13, then to $ 0.10.
Cardano price analysis
Cardano (ADA) attends a difficult battle between the Bulls and the Bears on the support line of the descending channel model.
ADA / USDT Daily Chart. Source: Cointelegraph / TradingView
If the price is supported below the support line, the sale could resume and the ADA / USDT pair can drop to $ 0.50. Buyers should defend the level of $ 0.50 with all their might, because a fence below could run the pair at $ 0.33.
If the price comes from the support line, the pair could reach the EMA of 20 days (0.73). This is resistance to vital general costs to monitor because a rupture above suggests that the pair can remain inside the canal for a while.
In relation: Bitcoin Price Metric Hits ‘Optimal Dca’ Zone Non Vue since BTC exchanged $ 50,000 to $ 70,000
Litecoin price analysis
Litecoin (LTC) oscillated inside a symmetrical triangle pattern, indicating the indecision between the bulls and the bear.
LTC / USDT daily table. Source: Cointelegraph / TradingView
The 20-day EMA ($ 122) is flat and the RSI is just above the median point, indicating a balance between supply and demand. If the price is supported above the 20-day EMA, the Bulls will try to push the LTC / USDT pair above the resistance line. If they succeed, the pair could come together at $ 147.
Conversely, a break below the 50 -day SMA ($ 117) opens the doors for a drop in the support line. If this level gives way, the pair could dive at $ 80.
Channel price analysis
The failure of the bulls to start a strong recovery of the support line sparked another sales cycle by the Bears in Chainlink (link).
Link / USDT daily chart. Source: Cointelegraph / TradingView
If the price is supported below the assistance line, the sale could accelerate and the Link / USDT pair could drop to $ 12.71 and subsequently at $ 10.
If buyers want to prevent the drawback, they will have to quickly push the price over $ 16. The pair could then reach the EMA of 20 days ($ 17.42), which is likely to act as rigid resistance. Buyers will have to push the price above the 20-day EMA to suggest that the break below the support line may have been a bear trap.
Avalanche price analysis
Avalanche (AVAX) tried to exceed the level of failure of $ 22.35 on February 27, but the Bears kept good.
Avx / USDT Daily Chart. Source: Cointelegraph / TradingView
The Bears resumed the sale on February 28. If the price breaks and maintains less than $ 20, the AVAX / USDT pair could reset the solid support at $ 17.29. This is an important level to monitor because a break below can run the pair at $ 15.
Time is exhausted for Bulls. They will have to push and maintain the price above the 20-day EMA ($ 24.55) to start a recovery. The pair can reach $ 27.50, which should still act as resistance.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.