March 20 cryptocurrency news, information, and market trend analysis
Bitcoin has begun a daily level rebound, driving altcoins to strengthen generally. At the same time, the U.S. stock market is gradually recovering, and gold prices have reached a historic high. The Federal Reserve decided to maintain interest rates during the March meeting and plans to slow down balance sheet reduction from April. According to the dot plot forecast, two rate cuts may be implemented this year.
Market Hotspot Tracking
BSC chain projects perform outstandingly
Projects on the BSC chain such as TUT and Broccli have shown significant gains. BN has launched the first batch of voting activities for new token listings, focusing on BSC chain projects in the first round, with plans to expand to the entire Alpha ecosystem in the future.
XRP makes a strong comeback
The veteran cryptocurrency XRP rises in price, returning to the top three by market capitalization. The U.S. SEC drops the lawsuit, and XRP may advance IPO and ETF plans in the future.
Auction showcases a short squeeze market
The small coin Auction has seen a short squeeze rise, transforming into an AI launch platform, suspected to be manipulated by large holders. Currently, the shorting rates are as high as -150% annually.
Hype exchange shows signs of recovery
The Hype exchange has recently rebounded, enabling users to enjoy reduced trading fees by staking tokens through its token empowerment mechanism.
Bitcoin and Ethereum market analysis on March 20
Market Review
BTC: Broke through the oscillation range yesterday, with a moderate increase in trading volume, a clear upward trend is beginning to show. The 4-hour trend is healthy, and the daily level shows increased upward momentum. A slight pullback is expected today; if it can hold above the previous oscillation range (84000-84500), the probability of further increases is high. Consider entering during the pullback support range; the long-term bullish outlook remains unchanged, and confidence should be maintained.
ETH: Following BTC's rise, it breaks through the bottom oscillation range. Investors who entered earlier can hold patiently, as the expectation for further increases is strong.
Altcoins: Aligning with mainstream coins, generally showing slight increases. Most coins are still in bottom oscillation and gradually stabilizing, so gradual accumulation can be considered. Activity on the BSC chain is increasing, suggesting attention to BSC ecosystem projects; TRX has shown significant short-term gains and its ecosystem coins can be monitored; Sun Yuchen's involvement in the MEME ecosystem is worth noting. Additionally, new platforms such as Odin on the BTC chain and TIME on the SOL chain bring new opportunities; community group discussions are recommended. For coins that are currently in loss, patience is advised while waiting for market recovery.
Today's Highlights
BTC: The 1-hour and 4-hour trends return to health, slightly below healthy levels on the daily. A pullback is expected today before continuing upward, with a long-term bullish outlook unchanged. Support levels at 84000-84500 and resistance levels at 87000-88000.
ETH: Healthy on the 1-hour and 4-hour levels, slightly weak on the daily level. A pullback is expected during the day, with support levels at 1920-1970 and resistance levels at 2060-2120.
