Key Insights:
- Bitcoin started a recovery wave above the $30,800 resistance.
- Ether (ETH) moved above the $2,845 and $2,885 resistance levels.
- ADA is aiming a fresh surge above the $0.70 resistance.
Bitcoin
Recently, bitcoin price formed a base above the $29,400 level and started a recovery wave. The price climbed higher above the $30,200 and $30,800 resistance levels.
During the increase, there was a break above a couple of important trend lines at $29,800 and $30,000 on the hourly chart. The price even settled above the $31,000 level and the 21 simple moving average (H1).
It is now trading above the $31,500 level. On the upside, the bulls are facing resistance near the $32,000 level. The first major resistance is near the $32,250 level. A clear move above the $32,250 level could send the price to towards the $33,500 zone. If not, bitcoin might correct lower and test the $30,800 support.
Ethereum (ETH)
ETH also followed a similar pattern after there was a move above the $1,845 resistance. The price surpassed the key $1,885 resistance and settled above the 21 simple moving average (H1).
Besides, there was a break above a couple of important trend lines at $1,775 and $1,820 on the hourly chart. On the upside, the price is facing resistance near the $1,915 level.
The next major resistance is near the $1,950 level. A clear move above the $1,950 level could send the price to towards the $2,000 zone. If not, ether price might correct lower and test the $1,845 support.
Cardano (ADA)
Cardano (ADA) started a major decline below the $0.80 and $0.70 support levels. There was a steady decline below the $0.60 support level.
However, the bulls appeared near the $0.400 support zone. Recently, the price started a recovery wave above the $0.45 resistance level. There was a break above a major bearish trend line with resistance near $0.58 on the daily chart.
ADA is now trading above $0.600 and the 21-day simple moving average. On the upside, the previous support at $0.70 could act as a resistance. A clear move above $0.70 might start a steady increase.
The next major resistance may perhaps be near the $0.80 level or the 50% Fib retracement level of the main decline from the $1.22 swing high to $0.40 low. If there is no upside break above $0.70, the price could decline and revisit the $0.50 support zone.
BNB and DOT price
Binance Coin (BNB) is consolidating near the $305 level. The first key resistance is near the $315 level, above which the price might rise steadily.
Polkadot (DOT) is still stuck below the $10.00 resistance. A close above $10.00 could set the pace for a decent increase.
A few trending coins are SOL, UNI, and LINK. Out of these, SOL is gaining pace and might rise towards the $50.00 resistance zone.
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