Daily Technical Analysis For March 8 : BTC, ETH, BNB

BTC and altcoin were slightly increased yesterday although fear information still covered the market. In the top 10, we can see BNB is coin have most increase with an opening price: $374.7 and closing price: $380.5 equivalent: 3.53%

Source: Coincu.com

BTC Technical Analysis

BTC/USDT Daily & 4hchart | Source: TradingView

As expected we have a day candle with a tug of war between buyers and sellers, showing that both the bears and the bulls are trying to prevail at the $40,000 resistance zone. At this support, if the bears push, we will see another $34,000. The day frame creates an ascending bottom.

With both daily and 4h we all see today will have a slight uptrend – retrace to the resistance test ( $39,6xx – $40,3xx). Price points to pay attention to $40,363 & $41,333. The Relative Strength Index (RSI) is in positive territory (Tends to rise above 50), which suggests an advantage for the buyers.

ETH Technical Analysis

ETHUSDT Daily chart | Source: TradingView

ETH still closing price below EMA 34, EMA 89 but the Relative Strength Index (RSI) is in the positive territory will have a slight uptrend today.

If the price recovers to the EMA 34 ($2796.50), it will show that the bulls are buying any slight dips. After that, the ETH/USDT pair can rally up to the resistance line of the resistance zone ~ $3009. The bears are likely to defend this level aggressively but everything goes according to plan only if supported by BTC.

BNB Technical Analysis

BNBUSDT Daily chart | Source: TradingView

BNB Technical Analysis: BNB price is still running in a triangle pattern below EMA34, EMA89. Only when the price breaks the resistance of the upper edge of the triangle or the lower edge of the triangle will we have a clearer trend. The flat moving averages and the RSI near the middle show a balance between supply and demand. BNB will have trading not special with a balanced trading volume.

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DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Alan

Coincu Ventures