March is usually a bullish month for crypto, but the monthly candle is still far from turning bullish. Will this year be different? Let’s go over the possibilities together.
7 Days Heatmap
Even though the market started off bullish at the beginning of the week, it seems the bears are going to win the battle for another week. A couple of altcoins are outperforming BTC and ETH, which is a good sign that altseason might be getting closer.
BTC Analysis
As per our last BTC analysis, it has been bullish this week, trading within the rising channel marked in red.
For the bulls to take over and start the next impulse toward the $95,000 round number, a break above the last major high at $87,400 is needed.
Meanwhile, if BTC breaks below the last major low marked in red at $81,200, further downside toward the $75,000 support would be expected.
ETH Analysis
As mentioned in our last roundup article, if ETH breaks above $2,000, it would be a clear signal that altseason is getting closer.
For the bulls to confirm control, a break above the $2,100 resistance level is still needed.
In parallel, if the last low at $1,870 is broken to the downside, a bearish impulse toward $1,500 could begin.
Quote of the week
Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says he’s not going to take a patient’s temperature.
~ Bruce Kovner
Closing Remarks
In summary, while March is historically a bullish month for crypto, current price action remains uncertain.
BTC is trading within a rising channel but needs to break above $87,400 to initiate the next bullish wave toward $95,000. A drop below $81,200 could trigger further downside.
ETH is also at a critical juncture; a break above $2,000–$2,100 would signal bullish momentum and support the case for an approaching altseason, while a drop below $1,870 could lead to a bearish move toward $1,500.
Despite bearish pressure this week, select altcoins outperforming BTC and ETH hint that altseason may be getting closer.
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