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    Max E.

    ETH, SOL & DOT: 16 March Price Digest

    SOL, ETH & DOT daily price digest


    The notion of Ethereum as being highly dependent on BTC  and not capable of independent changes on the chart in any direction seems to be confirmed.

    Yesterday, BTC failed to break through the $44,200 level. The crypto asset made several unsuccessful attempts to break above the bearish trend line. Then, the price of Bitcoin fell significantly lower, to $38,650, falling below the 200 and 50-day MA.

    Repeating the scenario of Bitcoin, ETH also built a “bearish triangle” pattern yesterday. On the chart, the key levels were $3350 and $2400 (resistance and support lines), and the price went below the 50 and 200-day moving averages MA.

    For the last 24 hours, ETH has been experiencing relatively less volatility compared to BTC. At the time of writing, Ethereum is well above the $2,600 mark: the price of the asset is $2,675.38. Over the past day, the price has increased by 5.44%.

    Ethereum goes up


    At the time of writing, SOL is trading at $84.41. Over the past 24 hours, the price of the token has increased by 5.23%. Despite the having a rather rocky start to the year and losing 68% compared to the all-time high reached in November last year, the CoinMarketCap user community predicts that the price of the token will reach $151.76 by the end of this month. 10,596 members of the community have voted in favor of this assessment.

    Solana price description


    After DOT reached an all-time high last year, the cryptocurrency followed a bearish trend. Since November 4, the price of the coin has decreased by 74%. On February 24, the price hit a seven-month low.

    However, the altcoin has recently begun a bullish rally as it was looking to cross the 20-day EMA (red) and managed to break through the four-month resistance of the trend line. As the overall bearish trend continues, analysts believed that further retracements should find a base near the $16-zone. Over the last 24 hours, the price of the token has increased by 5.87%. At the time of writing, the DOT price is $18.29.

    Polkadot price growth

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.