Bitcoin and ETH Price Prediction: Upsides Could Be Limited, Why TRX Could Take Hit

Key Insights:

• Bitcoin could extend losses towards the $18,750 support.
• Ether (ETH) is struggling to stay above $1,050.
• TRX failed to surpass $0.0705 and declined below a key support.

Bitcoin

After a short-term recovery wave, bitcoin price failed to clear the $21,250 resistance zone. BTC formed a top and started a fresh decline below the $20,600 level.

There was a clear move below the $20,250 support area and the 21 simple moving average (H1). However, the bulls were active near the $19,550 zone. The price is now attempting a recovery wave above the $19,950 level.

On the upside, bitcoin might face resistance near the $20,100 zone and a connecting bearish trend line on the hourly chart. The first major resistance is near the $20,250 level, above which the price could rise towards the $20,700 resistance zone.

Ethereum (ETH)

ETH also followed a similar path and settled below the $1,125 support zone. It even declined below the $1,000 level and the 21 simple moving average (H1).

The bulls are now taking a stand near the $1,050 level. The price is now attempting a recovery wave above the $1,070 level. On the upside, ether price might face resistance near the $1,100 zone and a connecting bearish trend line on the hourly chart.

The first major resistance is near the $1,125 level, above which the price could rise towards the $1,200 resistance zone. If not, it could extend losses below $1,050.

Tron (TRX)

TRX recovered from the $0.045 support zone. The price gained pace for a move above the $0.0550 and $0.0570 resistance levels.

It cleared the 38.2% Fib retracement level of the key drop from the $0.0900 swing zone to $0.0450 low. The price even spiked above the $0.0700 resistance. However, the price failed to extend gains above the $0.0705 level.

It struggled to surpass the 50% Fib retracement level of the key drop from the $0.0900 swing zone to $0.0450 low. It is moving lower and there was a break below a major rising channel with support near $0.0665 on the daily chart.

The next major support is near the $0.0622 level. Any more losses might send the price towards the $0.0600 level.

ADA, BNB, and DOT price

Cardano (ADA) is slowly moving lower and trading below the $0.45 level. The next major support sits at $0.420, followed by $0.405.

Binance Coin (BNB) is trading near the $225 level. If there is a recovery wave, the bears might appear near the $235 level.

Polkadot (DOT) extended losses below the $6.70 level. The price even tested the $6.50 support level. Any more losses might call for a move towards the $6.32 level.

A few trending coins are MATIC, SAND, and QNT. Out of these, QNT is gaining pace above the $80 resistance and might surpass $85.