Heading for Sunday highs? Cryptocurrency market results on March 15, 2021

The downward correction of the cryptocurrency market has stopped today. The coins have moved to a cautious recovery, so far resembling more consolidation. Nevertheless, technical prerequisites are being created for bitcoin, and then altcoins, to regain their lost positions.

Bitcoin was able to hold above the 100 level on Fibo Expansion today. An attempt to break it (punctures with shadows) turned out to be false, and the pair moved to recovery. Now, the nearest target for bitcoin growth is the level of the previous historical highs - the resistance of 58340.66, marked with a dotted line. And in case of overcoming this level and fixing above it, the main cryptocurrency will be able to continue its growth to the level of 161.8 on Fibo Expansion.


Bitcoin Cash held in the range of 508.94 - 538.35 and is consolidating in the middle of it. The nearest target for the pair's recovery is the level of 551.56, marked with a red dotted line. And if the pair breaks through it and gains a foothold higher, the BCH/USD quotes will open the way to the resistance level of 611.50.


Ripple stopped falling in the range between the support of 0.4071 (red line) and the resistance of 0.4539, which was associated with the recovery of the bitcoin price. Now, XRP/USD can either continue to decline to the support of the corridor, or first descend to its resistance, and then turn down.


Ethereum held above the support area of 1697.27 - 1789.44 (marked with red dotted lines) and is recovering after the main cryptocurrency. Now, if bitcoin reaches a historical high, the price of ETH/USD may rise to Saturday's highs. The nearest target for the pair's growth is the level of 61.8 on Fibo Expansion.


The material has been provided by InstaForex Company - www.instaforex.com