Daily Crypto Analysis - March 29th, 2021

Trading | 5 months ago


Daily Crypto Analysis - March 29th, 2021 - tradeglobalmarket

In the Daily Crypto Analysis segment, we do the in-depth cryptocurrency market analysis and provide the insights, and unbiased information on leading cryptocurrencies like Bitcoin, Ethereum and Litecoin.

Bitcoin

BTCUSD - Daily Crypto Analysis

On Monday, 29th March - Bitcoin price extended its rise above an important $58,000 resistance zone against the US Dollar. Bitcoin rose by 3.29%. Currently Bitcoin is consolidating at $57,369 price level. This price level is an important support zone for Bitcoin.

Bitcoin broke the $58,000 resistance level and settled nicely above the daily simple moving average. Many chief financial officers of multibillion dollar corporations believe that Bitcoin should be on any company's balance sheet. One must look for buying opportunities in Bitcoin.

Ethereum (Ether)

ETHUSD - Daily Crypto Analysis

On Monday, 29th March - Ethereum rose by 7.75%. Ethereum extended its rise above the $1,800 resistance zone against the US Dollar. Currently Ethereum is consolidating at $1,801 price level. This is an important resistance zone for Ethereum.

Ethereum has outperformed the Bitcoin over the last year, which makes the Ethereum the most bullish cryptocurrency among the top cryptocurrencies. Ethereum is the second ranked cryptocurrency by market cap. One must look for buying opportunities in Ethereum as many bullish investors may take Ethereum beyond $2000 price level in upcoming months.

Litecoin

LTCUSD - Daily Crypto Analysis

Litecoin rose by 5.11% on Monday. Currently Litecoin is trading at $190.75 price level. This is also an important support zone for Litecoin. The intraday movement in Litecoin has not been impressive enough from last 10 days. At present, the many cryptocurrencies are slightly under market pressure.

At the time of writing, Litecoin was down by 1.53%. Going by the present situation of the LTC/USD, bulls are expected to hold steadily at this support zone. One must look for buying opportunities in Litecoin.

 

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