Cryptocurrencies on the Rise: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, and SHIB
The US equities markets experienced a downturn on March 15 due to news that Saudi National Bank, Credit Suisse’s largest investor, cannot provide additional funding to the bank due to regulatory limitations. With Credit Suisse warning of “material weaknesses” in its financial reporting processes, the situation has made investors nervous. In contrast, Bitcoin’s price has remained stable or increased, with Trezor Bitcoin analyst Josef Tětek suggesting the banking crisis could increase Bitcoin’s status as a safe haven asset. Capriole CEO Charles Edwards has predicted a target objective of $100,000 and higher for Bitcoin due to its bump and run reversal pattern, but traders should not rely solely on this indicator for building a trading or investment plan. In terms of top-10 cryptocurrencies, Bitcoin, Ether, BNB, XRP, Cardano, Dogecoin, Polygon, Solana, Polkadot, and Shiba Inu, asymmetrical charts indicate which way the trend is leaning. For Bitcoin, if the bulls are not giving up too much ground, there could be a break and close above $25,250, signaling a potential trend change. Ethereum’s price could consolidate between $1,743 and the 20-day EMA for a positive sentiment on the crypto, while BNB could soar toward $400 after holders refused to allow its price to break back below the 50-day average. Conversely, XRP and ADA are approaching important levels of strong support. For XRP, it’s at $0.36, while ADA is at $0.30. Shiba Inu’s price remains inside a descending channel pattern, and its buyers are attempting to push the price above the channel, but the bears remain strong.