Bitcoin's (BTC) recovery is facing resistance at higher price points, suggesting persistent bearish pressure. Material Indicators reported on X that a significant trader, referred to as "Spoofy the Whale," has been suppressing the price below $87,500.

While upward movement is currently constrained, some analysts believe the downside is limited. BitMEX co-founder Arthur Hayes suggested on X that Bitcoin may have bottomed out around $77,000, citing the Federal Reserve's announced slowdown in quantitative tightening starting in April.

Another potential bullish factor is the possibility of a recession, according to Robbie Mitchnick, head of digital assets at BlackRock. In a Yahoo Finance interview, Mitchnick stated that BlackRock's long-term Bitcoin investors are unfazed by current economic challenges and view the market downturn as a buying opportunity.

Could Bitcoin establish a higher low and break above $87,500 in the near future? And would that spark increased buying in altcoins? Let's examine the charts of the top 10 cryptocurrencies.

Bitcoin Price Analysis

Bitcoin briefly surpassed its 20-day exponential moving average ($85,332) on March 19th, but this relief rally was halted by bearish pressure at the resistance level.

A break below the uptrend line could send BTC/USDT down to $80,000 and potentially further to $76,606. The $76,606 to $73,777 zone is anticipated to attract strong buying, but continued bearish dominance could lead to a decline to $67,000.

Conversely, a rebound off the uptrend line and a break above $87,500 could trigger a significant upward movement. While the 50-day simple moving average ($91,136) might provide resistance, a break above it could propel the price towards $95,000 and potentially $100,000.

Ether Price Analysis

Ether's (ETH) recovery stalled at the 20-day EMA ($2,067), indicating continued bearish activity at higher levels.

A drop below $1,927 could push ETH/USDT towards $1,800. Support is expected around $1,750 to $1,800, but a break below this range could trigger a decline to $1,550.

This bearish outlook would be invalidated if the price rises above the breakdown level of $2,111, potentially leading to a rally towards the 50-day SMA ($2,420) and eventually $2,850.

XRP Price Analysis

XRP (XRP) briefly surpassed its moving averages on March 19th, but this momentum proved unsustainable.

Bearish pressure is attempting to push the price below the 20-day EMA ($2.36). Success could lead to a decline to $2.22 and then to the crucial support at $2. A break below $2 could complete a bearish head-and-shoulders pattern.

Conversely, a rebound off the 20-day EMA would signal buying interest, potentially leading to a rise towards the resistance line.

BNB Price Analysis

BNB's (BNB) pullback found support at the 20-day EMA ($608) on March 19th, indicating buying on dips.

The 20-day EMA is turning upwards, and the RSI is positive, suggesting a slight buyer advantage. A break above $644 could lead to a rally to $686. Resistance is expected around $686, with a break above potentially pushing the price to $745.

A break below the 20-day EMA would favor sellers, potentially leading to a decline to $550.

Solana Price Analysis

Solana (SOL) reversed from the 20-day EMA ($135) on March 20th, suggesting continued selling on minor rallies.

SOL/USDT could fall to $120 and then to $110. Strong support is expected around $110. A rebound from this level could lead to another attempt to break above the 20-day EMA, potentially reaching the 50-day SMA ($163).

However, a break below $110 would likely resume the downtrend, potentially leading to a decline to $98 and then $80.

Cardano Price Analysis

Cardano (ADA) reversed from its moving averages on March 20th, indicating bearish defense of the current level.

Sellers will likely target the uptrend line, where buying is expected. A strong rebound from the uptrend line could lead to a break above the moving averages and a rally to $1.02.

Conversely, a break below the uptrend line would suggest a shift to bearish dominance, potentially leading to a decline towards $0.58 and then $0.50, where strong buying is anticipated.

Dogecoin Price Analysis

Buyers are struggling to push Dogecoin (DOGE) above the 20-day EMA ($0.18), reflecting negative sentiment.

A fall below $0.16 could retest the crucial support at $0.14. This is a key level for bulls to defend; a break below could lead to a decline to $0.10.

Conversely, a break above the 20-day EMA would signal renewed buying interest, potentially leading to a rise towards the 50-day SMA ($0.22) and then to $0.29.

Toncoin Price Analysis

Toncoin (TON) surpassed the 50-day SMA ($3.51) on March 19th, but bears are attempting to halt the upward momentum at $4.

The 20-day EMA ($3.32) is turning upwards, and the RSI is positive, favoring buyers. Support is expected at the 20-day EMA, which could facilitate a break above $4, potentially leading to a rise to $5 and then $5.50.

Sellers would need to push the price below the 20-day EMA to regain control, potentially leading to a decline to $3.

Chainlink Price Analysis

Chainlink (LINK) rose above the 20-day EMA ($14.59) on March 19th, but this was short-lived.

The price fell below the 20-day EMA on March 20th, signaling selling at higher levels. Bears will likely target the crucial support at $12.

A rebound from the current level or $12 would indicate a shift from selling on rallies to buying on dips, potentially leading to a renewed attempt to reach the 50-day SMA ($16.83) and then $19.25.

A continued decline below $12 would likely lead to a drop towards the psychological support level of $10.

UNUS SED LEO Price Analysis

UNUS SED LEO (LEO) remains below the resistance at $10, indicating persistent bearish pressure.

Flat moving averages and an RSI near the midpoint suggest neither bulls nor bears have a clear advantage. A break below $9.60 would strengthen the bearish position, potentially leading to a decline towards the uptrend line.

Conversely, a break and close above $9.90 would complete a bullish ascending triangle pattern, potentially leading to a rise towards the target of $12.04.

Disclaimer: This article does not provide investment advice. All investment and trading decisions involve risk, and readers should conduct thorough research before making any decisions.