NewsletterCryptocurrency Price Prediction Today Mar 11th: Kucoin and Bone ShibaSwap Surged 6% While Maker and Frax Share Tumbled 10-12%
Cryptocurrency price prediction today Mar 11th: the recent bloodbath in the crypto market triggered by the Silicon Valley Bank crisis has also affected some of the top stablecoins such as USDC, DAI, and USDD. These stablecoins experienced heavy depegging from the $1 value puts an additional strain on the crypto investors. In this article, we will analyze the higher mover from the 100 cryptocurrencies amid the increased bearish sentiment.
As of 7:17 am on Saturday, the global cryptocurrency market capitalization stands at the $929.35 Billion mark, showing an of 1.35% since yesterday. Moreover, the total crypto market volume surged 35% and is currently valued at $99.60 Billion.
Kucoin (KCS)
Source- Tradingview
In the daily time frame chart, the Kucoin price showed the formation of an expanding channel pattern. Amid the recent sell-off in the market, the coin price plunged to the pattern’s support trendline.
On March 10th, the KCS price showed a long-lower price rejection candle at the trendline indicating the buyers continue to defend this support. The KCS price currently trades at the $8.19 mark and under the influence of this pattern it could trigger a new bull cycle that may surpass the $9 mark.
BoneShibaSwap(Bone)
Source- Tradingview
In response to a rounding bottom pattern formation, the Bone price has witnessed sustained recovery in the last three months. However, with the increasing bearishness in the market, the price trend has turned sideways and wobbled between $2.1 and $1.25.
By the press time, the Bone price trades at $1.61 and shows 10.68% growth in the last 24hr. If the altcoin manages to sustain above $1.25 support in the coming weeks, the buyers may drive the prices above $2.1.
Maker(MKR)
Source- Tradingview
Today, the Maker coin witnessed a 14.2% loss and plunged below a long-coming support trendline. This bearish breakdown would offer sellers additional resistance to pressurize buyers and push the coin price lower.
By press time, the MKR price trades at the $679 mark, and if the daily candle closes below the trendline, the sellers may drive the coin to the next significant support of $583.
Frax Share(FXS)
Source- Tradingview
From a local resistance of $12, the FXS coin price has witnessed a directional downfall for the past ten days and registered a 41% loss. Today, the coin trades at the $6.98 mark and showcases another breakdown attempt from $7 support.
The daily candle backed by a high surge in volume indicates a strong commitment from sellers. If today’s candle closes below the $7 mark, the prices may tumble 19% down to $5.68.
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