March 17th Market Analysis from LBank Derivatives

Bitcoin

In the short term, BTC has broken through the resistance level of $23,900 and is currently hovering above it.

If it does not break below this level in the future, there is still a possibility for continued upward momentum, with resistance levels to watch out for at $26,800 and $27,660.

However, if BTC does break below $23,900, it may trigger a pullback with support levels to watch at $22,700 and $21,350.

Ethereum

$ETH has also broken through the resistance level of $1,650 and continued to rise.

If it does not break below this level in the future, there is still a possibility for continued upward momentum, with resistance levels to watch out for at $1,810 and $1,870.

However, if $ETH does break below $1,650, it may trigger a pullback with support levels to watch at $1,580 and $1,470.

Overall, the short-term outlook for $BTC and $ETH is positive if they maintain their respective resistance levels.

Investors should keep an eye on these levels to make informed trading decisions. However, a break below these levels may indicate a shift in market sentiment and trigger a pullback.

We now offer BTC, ETH, DOT, SOL, and over 100 other popular cryptocurrencies as perpetual contracts.

Leverage is available between 1–125x. One of the key benefits of USDT-settled contracts is that you can easily calculate your returns in fiat. When the market suffers a wild fluctuation, this tool can help you lower your risk.

Click here to download it for iOS or Android

Website: https://lbank.com
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/

Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.