March 09 Daily Technical Analysis: BTC, ETH, BNB Will Have Another Dump With Tensions Between Russia And US?

While the EU and United States tightened the terms of Crypto to make it difficult for Russia, the issue has hastened cryptocurrency regulation in Europe and the United States. the price of the whole market was affected quite a lot. For BTC has dropped ~24.23%, big altcoin with high dominance ETH: ~19.51% however we will see what state Miner has been in the past few days:

Source: Cryptoquant

Miner Netflow total: Quantity pushed to the exchanges tended to decrease while a lot of bad news occurs, showing that miners show no signs of fear of selling off BTC at the moment. They also have a positive view of BTC in the near term.

BTC Daily Technical Analysis

BTC/USDT Daily & 4h chart| Source: TradingView

Daily Technical Analysis: On a daily basis, we see that BTC is making a higher bottom for an uptrend. The price is currently trading around the EMA 34, the price at $40,000 is a stiff resistance. Today’s plan will have candle beard pass this mark and return to trade around ~$38,600 – $39,500.

Considering the 4h frame price tends to close above ema 34 ~$39,358 for a short-term uptrend. To have a good position we can wait for the price to close above the key level, retest $40,000 with a full force candle there will be a long position R: R 1:4.5 target is the old resistance ~$45,000.

Signal: Buy ( 4hchart ).

Daily Technical Analysis

ETH Daily Technical Analysis

ETH/USDT Daily | Source: TradingView

ETH is making a higher bottom for a short-term uptrend. Price is trading below EMA 34,89. The bulls are trying to push the price to the resistance around $2970 but the volume is not too strong so it will be difficult for ETH to reach this price today.

If the price can close above ~ $2790.27 plus the Relative Strength Index (RSI) is in the positive territory ETH will see the next level ~ $2970.

On the other hand, without the support of BTC then ETH can retest support ~2445. The bulls are trying to give the buyers an advantage with BTC backing before another dump (maybe the end of the week).

BNB Daily Technical Analysis

BNB/USDT Daily | Source: TradingView

Chart BNB favors a clear uptrend plus the Relative Strength Index (RSI) is in the positive territory. Today can have a candle bear up to $400 then retest resistance of the upper side of the triangle. If the price can close above EMA 34 BNB will next target $430. However, it can only be done if it is supported by BTC.

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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