# Market Analysis for 3.16: Will the Weekly Reversal Drive a New Rally on the Daily Chart?

A new week has begun. Last week's weekly chart closed with a strong bullish candle, indicating a reversal in the weekly trend. After a reversal, it's either a shake-out of weak hands' positions or a rally upward. On the daily chart, with yesterday's bullish candle breaking through MA50, the entire moving average trend has turned positive. As long as we don't see consecutive bearish candles, the logic for finding support and rebounds is definitely there. Therefore, this week's primary strategy is to look for rebounds, but short positions should only be day trades at most—after all, the major resistance levels on the daily chart are at 79300 and 80600; getting caught short in between would result in liquidation.

$BTC Bitcoin's short-term resistance levels are at 75200 and 76100. Which gets hit first depends on market maker sentiment. Watch for potential rebounds near 71800 support below.

$SOL Ethereum's resistance is at 96 and 99, with support at 89. If it reaches support, watch for rebound opportunities as well. Note that 99 is a major daily resistance level—be careful not to FOMO on longs here.

$ETH Ethereum's main resistance to watch is around 2370-2380, with support at 2120 and 2030. If it drops to 2120 first, watch for potential rebounds.

In summary, the weekly reversal suggests the possibility of a rally ahead. On the daily chart, the realistic concern is the resistance zone at 79300-80600. Therefore, keep short positions as day trades at best. If the price drops to support levels, look for rebounds. Follow me for the latest market analysis and precise entry points daily. All trading ideas are for reference only and require strict stop losses and take profits.