Key Insights:
- Bitcoin is showing bearish signs below the $21,000 and $22,000 levels.
- Ether (ETH) might accelerate lower below $1,000.
- DOGE might start a major decline if there is a close below $0.050.
Bitcoin
After a minor upward move, bitcoin price faced sellers near the $21,400 zone. The price failed to continue higher above the $21,500 zone.
As a result, there was a fresh decline below the $21,000 level and the 21 simple moving average (H1). BTC declined below the $20,800 support level to enter a bearish zone. There is also a connecting bearish trend line forming with resistance near $21,000 on the hourly chart.
On the downside, there is a crucial support near $20,000. A close below the $20,000 zone could start a major drop. Conversely, the price could start a decent recovery wave above the $21,500 level and the 21 simple moving average (H1).
Ethereum (ETH)
ETH also followed a similar pattern after it failed to clear the $1,120 resistance zone. There was a fresh decline below the $1,100 level and the 21 simple moving average (H1).
There was a move below the $1,080 level and the bears are now attempting a move below the $1,050 support zone. The next major support is near $1,000, below which there is a risk of a 10% drop in the coming sessions.
Conversely, the price could rise again and revisit the $1,120 resistance zone. The next major resistance is near the $1,260 level.
Dogecoin (DOGE)
DOGE started a major decline from the $0.0900 resistance zone. There was a drop below the $0.0800 and $0.0650 support levels.
The decline gained pace below the $0.0620 level and the 21-day simple moving average. The price even spiked below the $0.0550 level, but the bulls appeared near a major support at $0.050 on the daily chart.
It reacted sharply to the upside and gained over 10%. However, there are many hurdles on the upside, starting with the $0.0650 level. The main resistance sits near the $0.078 level, the 21-day simple moving average, and connecting bearish trend line on the daily chart.
A close above $0.0780 might start a major increase. If not, there is a risk of a major decline below the $0.050 support zone in the near term.
ADA, BNB, and DOT price
Cardano (ADA) is struggling to clear the $0.50 resistance zone. If it remains below $0.50, there could be a drop towards the $0.45 level.
Binance Coin (BNB) is moving lower towards the $210 level. The key breakdown support is still near the $200 level.
Polkadot (DOT) is still consolidating above the $7.0 support. A clear move below the $7.0 level might put a lot of pressure on the bulls.
A few trending coins are XRP, HNT, and XTZ. Out of these, HNT is showing positive signs above the $11.00 resistance zone.
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