Bitcoin and ETH Print Bullish Pattern, Why AVAX Aims $100

Key Insights:

• Bitcoin is gaining pace above the $40,800 level.
• Ether (ETH) might rise steadily towards $2,920.
• AVAX rallied 15% and is currently attempting a crucial upside break.

Bitcoin

After a clear move above $40,000, bitcoin price started a fresh increase. There was a clear break above the $40,800 resistance level.

The price even broke the $41,000 resistance and settled above the 21 simple moving average (H1). It is now attempting an upside break above the $41,250 and $41,450 resistance levels. If there is a clear move above $41,450, the price might surge further.

The next key resistance is near the $42,200 level. If there is no upside break, the price might decline towards the $40,300 level and a connecting bullish trend line on the hourly chart.

Ethereum (ETH)

ETH also followed a similar pattern and started a fresh increase above the $2,720 level. The price settled above the $2,780 level and the 21 simple moving average (H1).

There was a clear move above a key bearish trend line with resistance near $2,790 on the hourly chart during the increase. The bulls even pushed the price above the $2,800 level. ETH is still rising and might climb higher towards the $2,880 level.

If the bulls remain in action, the price could surge towards the $2,920 resistance zone. Conversely, the price might correct gains and test the $2,780 support zone. A downside break below the $2,780 support could push the price lower towards $2,720.

Avalanche (AVAX)

AVAX formed a base above the $65.00 level after a sharp decline. The price started a decent increase above the $70.00 resistance zone.

There was a clear move above the $75.00 level and the 21-day simple moving average. The bulls pushed the price above the 23.6% Fib retracement level of the key decline from the $98.50 swing high to $65.50 swing low.

The price is now reaching near a crucial bearish trend line with resistance near $82.00 on the daily chart. A clear move above the trend line resistance could further push the price above $85.00.

The next hurdle is near the trend line at $92.00, above which the price might rise towards the $100.00 level. If not, the price might correct gains and test the $75.00 support.

ADA, BNB, and DOT price

Cardano (ADA) is up 5%, and there was a move above the $0.850 level. The next stop is near $0.880, above which the price might rise towards the $0.900 level.

Binance Coin (BNB) is moving higher towards the $392 resistance. The next major resistance is near the $395 level. If the bulls remain in control, the price could even surge above $400.

Polkadot (DOT) gained 4% and broke the $18.50 level. The next key hurdle is near the $19.20 level, above which the price might rise to $20.00.

A few trending coins are MKR, CAKE, and CELO. Out of these, CAKE is up 25%, and there was a move above the $6.50 level.