Altcoins are flashing some encouraging signals as Bitcoin price action begins to trade in a tighter range, which historically has preceded volatile price moves.
, in 2013 and in 2021. Therefore, the possibility of continued consolidation in March remains high.
What are the critical levels that may act as major roadblocks for the recovery in Bitcoin and altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.Bitcoin’s $22,800 level has been acting as a solid support in the past few days, which is a positive sign. This indicates that the sentiment remains bullish and traders are viewing the dips as a buying opportunity.
On the contrary, if the price turns down from $25,250, it will suggest that the pair may remain range-bound for a few days. A consolidation near the local highs is a bullish sign as it shows that buyers are not rushing to the exit. The bears will have to sink and sustain the price below $22,800 to dent the bullish sentiment. That may start a correction toward $20,000.
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