Cryptocurrency Price on March 27: Bitcoin above $70,000; Solana, Avalanche shed up to 4%

"Bitcoin saw a mix of buying and selling pressure, leading to price fluctuations before settling around $70,500. Bitcoin's next resistance level is expected at $70,979, with the next support level at $68,955," said Edul Patel, CEO of Mudrex.

CoinSwitch Markets Desk, said, "While BTC bulls have been able to manage BTC prices above $70k after a retest of $69k as support, several analysts are predicting that a short squeeze might be on the cards as well. However, Ethereum, in comparison to BTC, has been quite weak as the ETH/BTC chart is unable to bounce back hard from the 0.05 mark with the odds of ETF approval for Ethereum also reducing for May."

The total volume in DeFi is currently $11.73 billion, 10.97% of the total crypto market 24-hour volume. The volume of all stablecoins is now $93.78 billion, which is 87.70% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, rose to $1.381 trillion. Bitcoin's dominance is currently 52.09%, according to CoinMarketCap. BTC volume in the last 24 hours fell 15% to $13.8 billion.

Tech View by Rajagopal Menon, Vice President, WazirX
BTC's Exponential Moving Average for a 10-day EMA indicates ‘Buy’ at 67984, and a 200-day EMA indicates ‘Buy’ at 46121. The Simple Moving Average for a 10-day SMA indicates ‘Buy’ at 66829, and a 200-day SMA indicates ‘Buy’ at 42452.

The Ichimoku Base Line, valued at 66554, continues to be neutral. The Hull Moving Average indicates ‘Buy’ at 70830. The Volume Weighted Average indicates ‘Buy’ at 68441.

The Relative Strength Index (14) sits at 60, indicating ‘Neutral’. The Stochastic %K (14, 3, 3) at 72 indicates ‘Neutral’ and the Average Directional Index (14) at 31 indicates a ‘Neutral’ outlook.

The MACD Level (12, 26), at 2126, indicates ‘Sell’. The Stochastic RSI Fast (3, 3, 14, 14) at 43 indicates ‘Neutral’ and the Williams Percentage at -25 indicates ‘Neutral’.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Source: Forex-Markets-Economic Times