The last days of March brought a sharp decline to the cryptography market. The growing prices set by President Trump for April 2 as well as solid basic PCE data triggered a severe drop in the market. While March is coming to an end, the cryptocurrency market should end the month on a downward note, marking the second consecutive month of decline. This situation places merchants in a crucial place when faced with the coming week, wondering if the market will recover from its recent re-undermines or will sink more in April.
The Bitcoin and Altcoin market has greatly decreased
March has seen the cryptocurrency market undergo a significant drop, its total value lowering by 4.3%, from 2.79 billions of dollars to 2.67 billions of dollars. Bitcoin followed this trend, allowing 4.4% of its value during the same period.
Read also: Bitcoin is close to the worst Q1 closed since 2018: Will lowering measures increase the price of the BTC below $ 80,000?
Meanwhile, Ethereum, the main Altcoin, experienced a significant crisis, with its fall price of 21% in March. There was a hope for a return in the third week when the Ripple against SEC affair was rejected. Despite this, XRP struggled to capitalize on the momentum and finished the month on a trajectory down.
Bitcoin price prediction
Bitcoin recently plunged under the EMA20 level, which lowered its price to around $ 81,644. Now buyers try to push it back to the upward resistance channel.
On the other hand, the Bears seek to maintain the price under the level of key support of $ 83,000. In case of success, Bitcoin could fall more at $ 81,000 next week, and maybe even $ 80,000. However, buyers are likely to fight to keep the price in the range of $ 76,700 to $ 80,000.
For a bullish signal, the price must climb and stay in the resistance zone. If Bitcoin closes above the simple mobile average from 50 days to $ 86,000, this could trigger a recovery at $ 90,000. If the purchase of the momentum will continue, we could see it reach $ 95,000 in April.
Ethereum price prediction
Ether recently faced a rejection at the EMA20 level and now tests the immediate support line. The sellers aim to repel the ETH / USDT pair in the support area at $ 1,772.
However, buyers are preparing to strongly defend this level, because below below, this could lead to a continuation of the downward trend, potentially reaching as low as $ 1.5,000.
To indicate a change of momentum, buyers must generate the price above the downward resistance line. Having successfully could send Ether to $ 2,109, preparing the land for an upper April with the potential to reach $ 2.5,000.
XRP price prediction
XRP is experiencing increased volatility just below the EMA20 trend line, neither buyers nor sellers can establish a clear direction of the $ 2 bar.
The bears aim to push the price to the level of support at $ 2, but buyers are ready to defend it vigorously. A rupture of less than $ 2 would form a head and shoulder pattern, potentially sending the XRP / USDT pair at $ 1.8, a level that could be easily violated, which drops prices to $ 1.3.
Conversely, if XRP manages a strong rebound in $ 2 support, it could remain confined in a triangular model for a while. A successful defense could position the Bulls to generate the price of more than $ 2.5.
