Following the long crypto winter of 2018, Bitcoin Price finally seems to be recovering. After a short-lived bull-run a couple of weeks ago, the BTC/USD pair continues to flicker and flutter between $3,800 and $4,000 over the past few weeks. However, it will be interesting to see where Bitcoin price at the end of March ends up being.
In addition to Bitcoins, Ethereum price has also managed to surge. ETH/USD is now trading in the $130-$140 range for some time now. Ripple price has also felt the direct effect of the Bitcoin bull-run. The XRP/USD pair is currently priced in at $0.31 – stuck between $0.30 and $0.33 for a week.
Let us take a closer look at how the top three cryptocurrencies stand right now – and where they are expected to move as March progresses.
Bitcoin Price Analysis for March 2019
The price of Bitcoin has shown quite a positive trend in March. After a long time, the market sentiments are positive and optimism has made way. While there is still strong resistance from the bears, it is expected that the bulls will break past the $4,000 mark before the month ends.
Expect another short-lived bull-run which will help take the BTC/USD price beyond $4,200 – which will act as the new line of support. From thereon, the next target for Bitcoin price would be the $5,000 price point. If the market conditions get worse, this might get lowered to $4,750 as well. However, Bitcoin price surpassing $4,000 is almost certain.
Ethereum Price Analysis for March 2019
Ethereum Price too, seems to be on a bullish-trend. In many ways and forms, the price of Bitcoin dominates how the rest of the markets move. This is because Bitcoin is usually considered the entry-point. However, similar to Bitcoin, Ethereum too is expected to grow quite significantly! The currency is likely to charge through the $140 mark which has become a point of bearish resistance.
Once $140 is crossed, we expect Ethereum price to jump up to as much as $165 before facing another minor correction. A new line of support should ideally form around the $152 mark. However, much of where the Ethereum price would be headed would depend upon how the Bitcoin price performs.
Ripple Price Analysis for March 2019
Ripple, which has been another consistent name in the crypto-markets is currently $1.5 Billion behind Ethereum when it comes to the market cap. A strong bullish wave can help Ripple topple Ethereum and occupy the number-two spot once again. However, if that happens, we will also see a significant boost in Ripple price.
Ripple price currently stands stuck between $0.30 to $0.34. Given a strong bullish momentum, however, the price of the currency can break past the barriers and reach as high as $0.42 – which is expected to be the new line of resistance. Upon reaching this juncture, the Ripple price would find a new level of support at $0.38. However, similar to Ethereum, Ripple’s price performance also depends upon the direction that the Bitcoin price takes.
Source: Coinmarketcap, Tradingview