Price analysis 3/1: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

cointelegraph.com:

Bitcoin (BTC) was marginally positive in February even though the S&P 500 index (SPX) fell by 2.61%. On the first day of March, Bitcoin has started on a positive note while the United States equities markets are struggling. This shows that Bitcoin is trying to decouple from the U.S. equities markets.

A positive sign is that retail traders seem to have made the most of the crypto bear market. Instead of panicking and selling their holdings, traders have purchased at lower levels. Glassnode data shows that wallets holding at least one Bitcoin have consistently risen and are nearing the 1 million mark for the first time ever.

Historically, March has been a mediocre month for Bitcoin. Coinglass data shows that Bitcoin closed the month of March with double digit gains only twice in the past ten years, 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.

The bulls have cleared the first hurdle at the 20-day exponential moving average ($23,435) and will next try to push the price toward the crucial resistance at $25,250. This is an important level for the bears to defend because a break and close above it may attract huge buying. The pair could then skyrocket to $31,000 as there are no major resistances in between.

On the contrary, if the price turns down from $25,250, it will suggest that the pair may remain