These five analysts made accurate predictions for the crypto market in March, especially for the price of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Predicting cryptocurrency market movement is a difficult task due to its high volatility and sometimes unrelated to macroeconomic events. But these five analysts have managed to do this perfectly, posting accurate forecasts for Bitcoin, Ethereum, and XRP on Twitter. Crypto analyst Valdrin Tahiri takes a look at the technical picture of BTC, ETH and XRP in line with analysts’ predictions.
Bitcoin leads the crypto market movement
Two technical analysts have been successful in predicting Bitcoin price action. IncomeSharks bought for just under $20,000 from March 10 lows and is now more than 30% in profit. The reason for the purchase was the CME gap. XForceGlobal, on the other hand, used Elliott Wave Theory to perfectly predict the BTC drop. Additionally, on-chain analyst Will Clemente looked at open interest to predict that volatility would bounce back just before the March 10 drop. However, he did not specify the direction of the volatility.
cryptocoin.comAs you followed on March 13-20, Bitcoin price closed its highest bullish week in more than three years in March with a 27% increase. This confirmed the breakout and retest from the long-term descending resistance line since the all-time high. It also caused the weekly RSI to rise steadily above 50. As a result, the bullish trend will continue as long as Bitcoin does not reach the weekly close below $24,800. This could trigger a sharp drop towards $20,000. Currently, the most likely price prediction is a spike towards the next resistance at $32,000.
XRP price starts a massive upward move
Crypto analyst Cvotrades used simple resistance lines in both the price action and the RSI to perfectly predict the Ripple (XRP) price breakout.
XRP token price broke out of a long-term descending resistance line in the second week of March, while the weekly RSI rose above 50 (green icon). Both of these are considered signs of an uptrend. In the past 24 hours, XRP price reached the $0.655 resistance area. If it explodes, the price could rally to $0.925. However, if the rally loses momentum, the altcoin price could drop to the nearest support at $0.420.
Ethereum price drops after bearish divergence
Renowned crypto analyst Coldbloodshill was the one who predicted Ethereum price action. He used bearish divergences to predict the Ethereum decline on March 8-10.
Following the drop came the bearish trend (green line) on the daily RSI, which lasted for about a month. Later, when the indicator broke above this trendline (white), it signaled the start of a new uptrend, which hit the year high at $1,859.
ETH price is currently trading above $1,700 and it has been confirmed as support. This is another bullish sign that aligns with a breakout from the divergence trendline. As a result, a rise towards $2,000 is likely unless the price closes below this support. However, if it closes below this, the digital asset could bounce back to the $1,400 support level.
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