Welcome to our latest crypto market outlook for March 19th!
A lot of good news for crypto this week, and the market is reacting nicely. It’s time to watch your favorite altcoins. Here is my list for this week: LDO, ONE, LAYER, RARE, and QTUM.
Today, we will cover the following topics:
– BTC Analysis
– 5 Altcoins Analysis
– Quotes / Advices
– Closing Remarks
BTC analysis
As per our latest market overview, BTC remains overall bearish in the medium term, trading within the falling wedge pattern marked in orange.
As long as the upper orange trendline holds as resistance, further downside is expected toward the $75,000 support level.
Short-term, for the bulls to maintain control and extend the correction phase into an impulse, a break above $85,400 is needed.
In parallel, if the lower red trendline is broken downward, further downside is expected.
5 Altcoins Analysis
LDO has been rejecting the $0.9 – $1 zone like a charm.
As long as this support holds, further upside toward the $1.5 round number and resistance is expected.
For the shift in momentum from bearish to bullish to be confirmed, a break above the last major high at $1.065 is needed.
Meanwhile, LDO will remain stuck within a range.
ONE also rejected the strong round number at $0.01.
As long as the lower bound of the support at $0.008 holds, the only direction from here is up.
The bulls are showing no signs of slowing down, consistently printing new highs this week.
Even though bullish momentum is kicking in, it is still considered a correction. For a true bullish impulse to begin, a break above the last major high at $0.01235, marked in red, is needed.
LAYER has been overall bullish, trading within the rising broadening wedge marked in green.
Currently, it is approaching the lower bound of the wedge, which aligns perfectly with the $0.83 support zone.
After breaking above the falling red trendline, a long-term bullish impulse toward $1.5 would be in play.
As per our last RARE analysis, it has been in a correction phase after rejecting the upper bound of its range.
This week, RARE has been approaching a massive support zone marked in green around $0.075.
For the bulls to take control and push toward the previous major high at $0.12, a break above the minor falling channel in orange is needed.
As per our last market outlook, QTUM rejected the $2 support level and round number, remaining bullish in the short term this week.
For the bulls to take control in the medium term, a break above the inverse head and shoulders neckline marked in orange at $2.47 is needed.
Meanwhile, as QTUM retests the $2 round number, we will be looking for new short-term long opportunities.
Quotes / Advices
Hope is a bogus emotion that only costs you money.
~ Jim Cramer
Closing Remarks
In summary, BTC remains bearish in the medium term, trading within a falling wedge. A break above $85,400 is needed for bullish momentum, while a breakdown below the lower red trendline could lead to further downside toward $75,000.
Among the altcoins analyzed, LDO continues to hold support between $0.9 and $1, with potential upside to $1.5 if it breaks $1.065.
ONE has rejected the $0.01 level, with bullish momentum needing a break above $0.01235 for confirmation.
LAYER remains in an overall bullish trend, approaching strong support at $0.83, with a breakout above the red trendline potentially triggering a move toward $1.5.
RARE is nearing a key support zone at $0.075, with bullish continuation requiring a break above its falling channel.
QTUM, after rejecting the $2 support, remains short-term bullish, but a break above $2.47 is necessary for a medium-term trend shift.
