Bitcoin and ETH Price Prediction: Rally Could Take Breather, DOT Could Aim Reversal

Key Insights:

• Bitcoin started a fresh increase above the $22,250 resistance.
• Ether (ETH) surged above $1,550 and $1,600 before the bears appeared.
• DOT is attempting a key upside break above $8.0 and $8.5.

Bitcoin

Recently, bitcoin price saw a major increase above the $22,000 resistance zone. It cleared the $22,250 level and the 21 simple moving average (H1) to move into a positive zone.

The upward move gained pace above $23,000 and $23,200. However, the price failed to gain pace for a move above the $23,500 level. It is now correcting gains and trading below $23,000. On the downside, an initial support is near $22,500.

The main support is near $22,250 and a connecting bullish trend line on the hourly chart. On the upside, the price is now facing a strong resistance near the $23,400 zone. A clear move above the $23,400 level might push the price towards the $24,000 level. The next major resistance might be $25,000.

Ethereum (ETH)

ETH also followed a similar pattern and gained pace above the $1,550 level. There was a close above the $1,600 level and 21 simple moving average (H1).

It even traded above $1,600 and currently consolidating gains. On the downside, the price might find bids near the $1,600 level. The next major support is near the $1,540, below which the price could slide to $1,500.

On the upside, the $1,665 level presents a major hurdle. The next major resistance is near the $1,700 level. A successful close above the $1,700 level might start another increase. In the stated case, the price might rise towards the $1,880 level.

Polkadot (DOT)

DOT formed a base above the $6.00 support zone after a strong decline. The bulls were active above $6.00 and protected any more downsides.

As a result, the price started a steady upward move above the $6.50 resistance zone. There was a clear move above the $6.80 resistance and a key bearish trend line on the daily chart. It is now trading well above the $7.00 level and the 21-day simple moving average.

It is now approaching the 50% Fib retracement level of the key decline from the $12.00 swing high to $6.10 low. If there is a close above the $8.50 resistance, the price could start a major increase. In the stated case, DOT price may perhaps clear the $10.00 resistance.

ADA and BNB price

Cardano (ADA) attempted a close above the $0.50 resistance but struggled. It is now correcting gains and might test $0.488.

Binance Coin (BNB) spiked towards the $272 before the bears emerged. The price is now moving lower and might test $262.

A few trending coins are UNI, ETC, and NEAR. Out of these, ETC rallied over 30% and broke the $32 resistance as discussed in yesterday’s analysis.