Bitcoin and ETH Could Nosedive, XLM Remains Elevated

Key Insights:

• Bitcoin remained in a bearish zone below $30,850 and $30,000.
• Ether (ETH) declined heavily below the $1,840 support.
• XLM could rally if there is a close above the $0.155 resistance.

Bitcoin

After a close below the $31,250 zone, bitcoin price started a fresh decline. There was a sharp move below the $30,000 support level and the 21 simple moving average (H1).

Recently, there was a recovery wave, but the bears were active near $30,450. The price is again moving lower and it broke a key bullish trend line at $30,400 on the hourly chart. The price is now consolidating losses above the $29,450 support zone.

If there is a close below the $29,450 support, bitcoin price might resume losses. The next major support sits near the $28,550 level.

Ethereum (ETH)

ETH remained in a bearish zone below the $1,915 pivot zone. The bears were in action and the price declined below the $1,845 support zone.

There was a clear move below the $1,785 support level and the 21 simple moving average (H1). Besides, there was a move below a connecting bullish trend line with support near $1,800 on the hourly chart.

The price is now consolidating losses below the $1,800 resistance zone. The next major support sits near the $1,720 level, below which there is a risk of a move towards the $1,640 level.

Setllar (XLM)

XLM started a strong decline after it topped near the $0.24 level. There was a major drop below the $0.20 and $0.18 support levels.

It even moved below the $0.16 level and the 21-day simple moving average. Finally, there was a spike below the $0.12 level and the price tested the $0.10 zone. A base was formed above $0.10 and the price started a steady increase.

There was a break above a major bearish trend line with resistance near $0.130 on the daily chart. The next major resistance sits near the $0.155 zone.

A close above the $0.155 zone might start a strong increase. In the stated case, XLM price might rise towards the $0.166 level and then $0.180. If there is no upside break, the price could start a downside correction and decline towards the $0.130 support.

ADA, BNB, and DOT price

Cardano (ADA) is trading well below the $0.60 support zone. It seems like there is a risk of a move towards the $0.525 support zone.

BNB is back below the $300 level. If the bears remain action, the price might slide further towards the $285 support zone.

Polkadot (DOT) settled below the $10.00 pivot level. It seems like the price is now moving lower and could even test the $9.00 support.

A few trending coins are ICP, WAVES, and HOT. Out of these, WAVE is still eyeing an upside break above the $10.00 resistance.