The momentum of Bitcoin on March 22 resulted in the bulls exceeding $ 43 thousand in a short time. Popular altcoin projects like SHIB, Solana, Ripple, and MATIC are pushing psychological levels where strong uptrends can be initiated. To get the next technical levels, let’s examine the current price predictions of 3 crypto analysts.
SHIB, Solana, Ripple and MATIC analysis
The Shiba Inu is set to trigger a bear trap after falling below the red descending trendline on Monday, accompanied by bearish control. However, a late statement by Powell put stocks on the forefront, causing markets to realign their war plans as the Fed appears poised to step up its game to contain and deal with inflation concerns. This move is applauded by the markets and sees spillover effect on cryptocurrencies, with SHIB price pinching the bears upwards as it rises above the red descending trendline.
According to analyst Flip L., he thinks the bulls will gain strength in some areas in the above directional price movements:
SHIB price briefly climbed above $0.00002400 and the best outcome would be for the bulls to break and close above the 55-day SMA at $0.00002494. With this signal, the bulls will be perceived as the main driver in Shiba Inu price and further gains towards the end of the week as the ultimate target is set at the 78.6% Fibonacci level of $0.00002800.
Solana price bounces off support to break above $100
Thinking that Shiba bulls will gain strength above the 55 SMA in his analysis above, Flip L. says that Solana price has found support from a critical zone to reach $100. During this period, Solana price is going through a transformative phase as it begins to form an uptrend. A fresh wind seems to be blowing in favor of Solana as the bulls hold the sloping trendline from the bearish triangle twice. The next expectation is that the bulls can show the hand represented by a break above the 55-day SMA or even above $95.00.
From this zone, SOL price turned into support just below the resistance, which is ideally positioned to at least try and possibly move above $100.00. The monthly pivot will act as a trampoline for the bulls to try to bounce back towards $120.00 or $125.00 as $130.70 is a bit too far to try and test in just a few trading sessions. Depending on the news feed and the global environment, either the rally will need to take a breather at the monthly pivot at $100.00 or the monthly R1 resistance at $122.80 before attempting to push up $130.70. As can be seen from these, the 55-day SMA is very important for this rally to be viable. In another refusal, the analyst puts the following scenario:
Expect SOL price to slide back into the bearish triangle as Solana price drops to monthly S1 and the baseline of the triangle around $75.00. If a negative factor is causing strong headwinds for Solana, expect a possible drop towards $58.84.
Ripple promised immediate resolution in SEC lawsuit, claiming that XRP is not a security
cryptocoin.com As we have mentioned, important steps were taken between the parties in the Ripple – SEC case. Ripple price started an uptrend as the payments giant criticized its request for an extension in Ripple’s lawsuit against the SEC. Brad Garlinghouse, along with Ripple’s CEO and co-founder Chris Larsen, addressed Magistrate Sarah Netburn, arguing that the court rejected the SEC’s request to allow a “short extension.” The SEC requested an extension to indicate its intention to conduct additional exploration. The regulator submitted the request on March 21, 2022. The payments giant criticized the regulator’s request. The SEC argued that the extent of the discovery they wanted to take was unclear and needed additional time to decide whether it was necessary.
How might the conclusion of the SEC lawsuit affect the Ripple price?
Analysts evaluated the Ripple price trend and say that a rally in the altcoin is likely. TrendRidersTR, a crypto analyst and investor, has noted a bullish set of drivers on the Ripple price chart. This means a trend reversal in the altcoin. The analyst argues that Ripple price could break the resistance and resume the uptrend.
Analysts have set a target of $1.13 for Ripple price and predicted a breakout in the altcoin.
MATIC price offers a long entry trigger at lows
MATIC price formed a double top at $2.1 and then fell 44%. With Polygon trading around $1.51, traders can expect the start of a minor downtrend. According to analyst Akash Girimath, this move will be an uptrend due to the confluence of the equal lows of $1.33 and the three-day demand zone stretching from $1.15 to $1.35. A bounce from this zone could be the key to rallying liquidity and triggering a massive rise for MATIC price. The analyst says that interested investors can consider long positions at $1.33. For profit levels, $1.54 is preferable when the first equal peak is seen. Beyond this Polygon, the bulls will face resistances at $1.64 and $1.94. If the bullish momentum is enough, MATIC price will likely put these hurdles into a foothold, allowing the altcoin to run for the psychological $2 level. Market makers will increase this move to $2.1 and above to collect remaining liquidity above these equal heights.
As MATIC price continues to predict direction, failure to hold above the support confluence could indicate weakness among buyers. A daily candlestick near $1.15 will invalidate the bullish argument with a lower low and open the way for more corrections. Hence, traders can place their stop-losses at this level.
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