Bitcoin and ETH Extend Rally, WAVES Surges 50% To New ATH

Key Insights:

• Bitcoin remained in a positive zone above $46,000.
• Ether (ETH) climbed above the $3,320 and $3,400 resistance levels.
• WAVES surged over 50% after the company launched its leadership in the US.

Bitcoin

After a close above $45,800, bitcoin price started a steady increase. BTC cleared the $46,500 resistance zone and the 21 simple moving average (H1).

The bulls pushed the price above the $48,000 level. It is now consolidating gains and trading above the $47,500 support. There is also a key bullish trend line with support near $47,500 and the 21 simple moving average on the hourly chart.

If there is a downside break below the trend line, the price might decline towards the $47,000 support. On the upside, the next stop for the bulls might be $48,500.

Ethereum (ETH)

ETH also gained bullish momentum and cleared the $3,350 resistance level. It even surpassed the $3,400 resistance level and the 21 simple moving average (H1).

It is now consolidating near the $3,465 resistance zone. A clear move above the $3,465 resistance zone could open the doors for another increase. In the stated case, the price may perhaps rise towards the $3,550 level or $3,600.

If there is a downside correction, the price might test the $3,420 support and a connecting bullish trend line on the hourly chart. The main support is now near $3,315, below which the bears might gain strength.

WAVES

WAVES started a strong rally after it broke the $20.00 resistance zone. There was a clear move above the $25.00 and $30.00 resistance levels.

During the increase, the price climbed above a couple of bullish continuation patterns on the daily chart. It is now trading well above the $45.00 level and the 21-day simple moving average.

The recent rally gathered pace after the Corbital LLC announced the launch of Waves Labs in the US. The price even spiked above the $50.00 level and traded to a new all-time high at $54.00. The current price action suggests the price might correct lower towards the $45.00 level.

Any more losses might call for a test of $42.00. On the upside, the $55.00 level is the next key breakout zone for the bulls.

ADA, BNB, and DOT price

Cardano (ADA) settled above the $1.20 level. It is now facing resistance near $1.232, above which it may perhaps rise to $1.250.

BNB is rising and trading above the $435 level. The main barrier is now near the $450 level. A clear upside break above $450 could set the pace for a test of $465.

Polkadot (DOT) surged and settled above the $22.50 level. An immediate resistance is near the $23.00 level. Any more gains could send the price towards the $25.00 level.

A few trending coins are LUNA, RUNE, and AAVE. Out of these, AAVE is gaining pace above the $200 resistance level.