Market Could See “Liftoff”, AVAX Targets $30

Key Insights:

• Bitcoin started a decent recovery wave above the $20,600 resistance.
• Ether (ETH) was able to recover above $1,160 and $1,200.
• AVAX broke a major bearish trend line on the daily chart.

Bitcoin

After forming a base above the $19,500, bitcoin price started a decent upward move. The price settled above the $20,000 resistance to move into a positive zone.

The bulls were able to clear the $20,600 resistance zone and the 21 simple moving average (H1). The current price action is signaling more upsides above the $21,000 resistance zone. The next major resistance might be $21,500.

A clear move above $21,500 might send the price towards $22,000. If not, bitcoin could correct and revisit $20,600. The next major support is now forming near $20,000.

Ethereum (ETH)

ETH also followed a similar pattern and started a recovery wave from the $1,100 support zone. There was a decent upward move above the $1,160 resistance zone.

Ether was able to surpass the $1,200 resistance level and the 21 simple moving average (H1). On the upside, the price is now facing resistance near $1,250. A clear move above the $1,250 level could start an increase towards $1,325.

If not, the price might correct lower and test the $1,200 zone. There is also a key bullish trend line forming with support near $1,195 on the hourly chart. The next major support is near the $1,160 level.

Avalanche (AVAX)

AVAX followed a bearish path below the $35 pivot level. There was a clear move below the $25 and $20 support levels. The price even dived below the $18 level.

Finally, the bulls took a stand near the $14 level. A base was formed and the price is now recovering above the $15 level. There was a move above a major bearish trend line with resistance near $18 on the daily chart.

An immediate resistance is near the $20 level. A close above the $20 level may perhaps start a major increase. In the stated case, AVAX may perhaps revisit the $30 resistance zone.

If there is no upside break, the price could revisit the $15 support. Any more losses might call for a test of the $12 support.

ADA, BNB, and DOT price

Cardano (ADA) is up 3% and trading above the $0.470 level. If it surpasses $0.48, the bulls could aim a decent increase.

Binance Coin (BNB) is slowly moving higher towards the $245 and $250 levels. The main resistance on the upside is near the $265 level.

Polkadot (DOT) is up over 3% and is currently approaching the $7.15 resistance. Any more gains might send the price towards the $7.32 level.

A few trending coins are SOL, DOGE, and MATIC. Out of these, SOL is gaining pace above the key $35 resistance zone.