Daily Technical Analysis On March 22: BTC, ETH-Will Have A New ATH?

Revolving around the positive crypto news, we have a bright plan on the way back to the uptrend. Governments have gradually accepted BTC as an asset to exchange and use. Recent news such as:

• Morgan Stanley became the first big US bank to bite the Bitcoin bullet. According to CNBC, citing an internal document from the investment bank, affluent clients with “extreme risk tolerance” might purchase Bitcoin through one of the three funds chosen by the business. Morgan Stanley, on the other hand, is restricting the entire Bitcoin allocation to to 2.5 percent of the investors’ total net worth.
• According to Deutsche Bank, Bitcoin’s $1 trillion market capitalization makes it “too crucial to ignore.”

The news is getting more and more positive, so what do the charts show us? Let’s find out.

BTC/USDT daily chart | Source: TradingView

Looking at the daily chart BTC we can see that the bulls and the bears are still fighting and trading within the EMA 34,89. In our personal opinion, the daily candle will close with full buying power to form a Morning Star reversal candlestick pattern. There is a high probability that the price will close above the EMA 89 and touch the upper barrier of the ~$43,200 wedge.

Both MACD and RSI are on a positive uptrend. Support this week’s uptrend.

The 4-Hour Chart

BTC/USDT 4h chart | Source: TradingView

With the 4h chart shows a stable uptrend when the candle is trading above the 34,89 EMA. With a bullish 4-hour candle retesting the nearest resistance area at $42,300. With the current market situation, buying momentum on higher than average trading volumes is likely to close above $42,300 and retest before approaching the $45,000 mark.

Signal 4h: Strong Buy

ETH Technical Analysis

If BTC is the king, then ETH is the queen, if it comes to altcoins season, no one can’t help but mention ETH. In recent days, good news about ETH 2.0 or % staking yields are likely to be in the range of 10% to 15% have made ETH trading with BTC much more volume. Considering the onchain supply data, the amount of ETH locked up increased sharply. This shows that in the near future ETH will have a terrible pump, perhaps setting a new ATH similar to 12/2020 when ETH is about to set up ATH.

Source: Cryptoquant

Chart Daily &4h

ETH/USDT Weekly chart | Source: TradingView

Looking at the daily and 4-hour chart of ETH, we see that the buying volume is extremely strong, ETH price is tending to break through the red cloud and Span B is acting as a resistance. Looking at the 4h blue cloud shows that ETH will move towards the next resistance areas at $3,150 and $3,200.

Both MACD and RSI are on a positive uptrend.

Signal: Strong Buy

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

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