SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, ADA, AVAX

Bitcoin (BTC) started the week on a positive note and is trying to hold above the $70,000 level. Analysts are hoping for a turnaround this week after five straight days of negative inflows into the space's Bitcoin exchange-traded funds (ETFs) last week.

Goldman Sachs says clients are showing strong appetite for the company's futures and options offerings. Goldman Asia Pacific's head of digital assets, Max Minton, said the firm's biggest clients were showing strong interest in the crypto sector following the launch of the space's Bitcoin ETF.

Spot demand for Bitcoin ETFs may remain strong to avoid a sharp drop in Bitcoin. That again could make participants shallower as market participants jump in to buy dips.

What are the key safeguards to keep in mind in Bitcoin and altcoins? Let's examine the charts to find out.

S&P 500 Index Price Analysis

The S&P 500 index continues to rise in an ascending channel pattern, indicating that buyers will continue to bid.

The upward movement may face selling at the resistance line of the channel. If the price falls below the protection line, the index can extend its stay in the channel. The momentum may take a break above the channel, and the index may rise to 5,450.

Contrary to this assumption, if the price continues lower and breaks below the 20-day exponential moving average (5,147), it will indicate that the bulls are rushing the exit. That would accelerate the selloff and the price could fall back to the 50-day simple moving average (5,018). A negative divergence on the Relative Strength Index (RSI) warns of a possible correction in the near future.

Analysis of the price of the US dollar index

The bears dragged the US dollar index (DXY) below the 20-day EMA ($103) on March 20, but failed to sustain lower levels.

The index recovered well on March 21 and bounced back above its moving averages, indicating strong buying at low levels. The index may rise to a strong upside resistance at 105.

On the contrary, if buyers drive the price above 105, a trend towards 107 may begin. There is a little resistance at 106, but it can be crossed.

Bitcoin price analysis

Bitcoin has broken out of the pennant formation of the past few days, indicating that the bulls are in control.

If the bulls hold the price above $69,000, the BTC/USD pair may rise to the highest resistance at $73,777. This level could act as a significant roadblock, but if the bulls lose, the pair could rally to $80,000.

Conversely, if the price declines from current levels, it suggests that the breakout could be a bull trap. The bears try to push the price below the pennant. If they do, the pair could fall towards the 50-day SMA ($59,018).

Ether price analysis

Ether (ETH) broke out of the 20-day EMA ($3,521) on March 25, indicating that the bulls have confirmed their dominance.

If buyers place the price above the 20-day EMA, it suggests that the correction phase may end. The ETH/USDT pair may rise to $3,679 and then support the upside resistance at $4,094.

If the price declines below $3,679 and falls below the 50-day SMA, this bullish outlook is worthless in the near term. This could indicate the start of a deep correction towards $3,056 and then $2,868.

BNB price analysis

BNB's (BNB) support rally has risen above the overhead resistance at $590, an important level to watch out for.

Upward moving averages and an RSI in the positive zone suggest that the path of least resistance is up. If buyers hold the price above $590, the BNB/USDT pair could jump to $645, boosting momentum. This level may pose a serious challenge, but if it is defeated, the next stop could be $692.

If the bears want to prevent the move to the upside, they need to keep the price below the 20-day EMA ($534). If they do, the pair may drop to the 50% Fibonacci retracement level towards $500.

Solana price analysis

Solana (SOL) rebounded from the 20-day EMA ($168) on March 24, indicating that sentiment remains positive and traders are buying on dips.

The bulls will try to push the SOL/USDT pair towards the dreaded resistance at $205. If the price declines below $205, the pair may drop down to the 20-day EMA and remain between these two levels for a few days.

A break and close above $205 suggests the start of the next uptrend leg. The pair may rise to $243 and eventually $260. The strong support on the side is the 20-day EMA, below which the pair can reach the 50-day SMA ($134).

XRP price analysis

XRP (XRP) has been hovering around the 20-day EMA ($0.62) for the past few days, indicating a divergence between buyers and sellers.

The flat 20-day EMA and RSI near the midpoint do not give a clear advantage to either the bulls or the bears. The XRP/USDT pair may oscillate between the uptrend line and $0.67 for some time.

If bulls push the price above $0.67, the pair could support the upside barrier at $0.74. The Bears are expected to defend this level strongly.

On the downside, the drop below the peak puts the bears in the driver's seat. The pair could fall to $0.52.

RELATED: BTC Price Fights For Key $69K As Bitcoin Nears Short Liquidity Zone

Dogecoin price analysis

Dogecoin (DOGE) rally has reached a strong resistance at $0.19, the bears are expected to mount a strong resistance.

The 20-day EMA ($0.15) is trending upward, and the RSI is in positive territory, indicating that the bulls are dominant. If buyers do not place more than the current level, the possibility of a rally above $0.19 will increase. The DOGE/USDT pair may jump to $0.23 and then to $0.30.

Alternatively, if the price declines significantly from the current level, it suggests that the pair continue its range-bound action between $0.12 and $0.19.

Cardano price analysis

Cardano's (ADA) recovery reached the 20-day EMA ($0.66), which is a critical resistance to keep an eye on.

If the price breaks from the resistance above, it suggests that the bears continue to view the rally as a selling opportunity. The ADA/USDT pair may drop to $0.57 again. If this support gives way, the pair completes a bear head and shoulders pattern.

Conversely, if the price is above $0.70, it indicates that the bulls are back in the game. The pair will then try to climb to the upside resistance at $0.81. If this level is weighed, the next stop could be $0.92.

Price analysis

Avalanche (AVAX) has stayed above the $50 breakout level over the past few days, indicating strong bullish interest.

Both moving averages are trending up, and the RSI is in the positive territory, indicating bulls are in command. There is a small barrier at $58, but if it is crossed, the AVAX/USDT pair can retest the critical resistance at $65. The bears can mount a strong resistance at this level, but if they lose, the pair can start the next hike to $87.

Bears need to pull back below $50 if they want to prevent the move to the upside. That could accelerate the selloff and sink the pair to the 50-day SMA ($44).

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.