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Bitcoin and ETH Price Prediction: Bulls Target Upside Break, BNB Eyes Reversal


Key Insights:

  • Bitcoin remained well bid above the $19,750 zone.
  • Ether is showing positive signs above the $1,125 level.
  • BNB is up over 5% and approaching a major hurdle at $250.

Bitcoin

After a spike above the $20,450 resistance, bitcoin price faced sellers near $20,750. There was a bearish reaction and the price settled below $20,450.

There was a break below the $20,000 support, but the price remained stable near the $19,750 level and the 21 simple moving average (H1). It is now consolidating above the $20,000 level. On the upside, the price is facing a major hurdle near the $20,450 level.

BTC Hourly Chart by FXEmpire

A clear move above the $20,450 level could start a major increase. If there is no upside break, bitcoin could start a fresh decline and may possibly trade below $19,750.

Ethereum (ETH)

ETH remained in a positive zone above the $1,060 support zone. There was a slow and steady increase above the $1,100 level.

Ether price even settled above the $1,125 level and the 21 simple moving average (H1). It seems like the price is trading in a key contracting triangle with resistance near $1,150 on the hourly chart. A clear upside break above the $1,150 level and $1,170 could stage a strong increase.

ETH Hourly Chart by FXEmpire

Conversely, it could start another decline and may possibly trade below $1,100. The next major support sits near the $1,060 level.

BNB

BNB formed a base near the $185 level before it started a recovery wave. There was a steady increase above the $200 and $220 resistance levels.

The price climbed above the 23.6% Fib retracement level of the downward move from the $335 swing high to $185 low. However, the bears appeared near the $245 zone and the 21-day simple moving average.

BNB Daily Chart by FXEmpire

The price corrected gains but stayed above $200. It is now attempting another break above the $245 resistance zone and a connecting bearish trend line on the daily chart.

The next key resistance might be $260 and the 50% Fib retracement level of the downward move from the $335 swing high to $185 low, above which the bulls could aim a move towards the $300 level. If there is no upside break, the price could start a fresh decline below the $220 level.

ADA and DOT price

Cardano (ADA) is slowly moving higher towards the $0.465 level. To start a strong increase, it must clear the $0.50 resistance zone. On the downside, there is a major support at $0.432.

Polkadot (DOT) is again rising towards the $7.0 level. A close above the $7.0 level could start a steady increase in the coming sessions.

A few trending coins are MATIC, UNI, and ATOM. Out of these, MATIC is rising but still below the key $0.60 resistance zone.



Read More: Bitcoin and ETH Price Prediction: Bulls Target Upside Break, BNB Eyes Reversal

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