Bitcoin and ETH Regain Traction, Why LUNA’s Rally Isn’t Over Yet

Key Insights:

• Bitcoin gained pace above the $42,500 resistance zone.
• Ether (ETH) is still well below $3,200.
• LUNA is eyeing a crucial upside break above $100.

Bitcoin

Recently, bitcoin price saw a decent increase above the $42,000 resistance zone. The bulls were able to push the price above the $42,500 resistance.

It even spiked towards the $43,000 level and settled above the 21 simple moving average (H1). BTC is now consolidating gains near the $42,500 level. An immediate support is near the $42,250 level and a connecting bullish trend line on the hourly chart.

The next major support is near the $42,000 level. On the upside, there is a major resistance forming near $43,000. A clear move above the $43,000 level could set the pace for a fresh rally.

Ethereum (ETH)

ETH attempted another increase above the $3,150 level. However, the bulls are still struggling near the $3,165 and $3,170 levels.

It is currently consolidating near the $3,150 level. An immediate support is near the $3,110 level and a connecting bullish trend line on the hourly chart. A downside break and close below the $3,110 support level may perhaps open the doors for a drop to $3,020.

On the upside, the price is facing resistance near the $3,165 level. The next key resistance is now near $3,210, above which ether price might surge.

Terra (LUNA)

LUNA started a downside correction from the $120 resistance zone. There was a move below the $110 and $105 levels.

The price even traded below a key bullish trend line with support near $98 on the daily chart. However, the bulls appeared near the $80 zone. A low was formed near $77 and the price started another increase.

There was a move above the $80 and $85 resistance levels. It is showing positive signs above the $95 level the 21-day simple moving average. Today, the price started a fresh increase and gained pace above the $98 level. It is up over 5% and the current price action suggests more upsides above the $100 resistance.

If the bulls succeed, the price could rise towards the $120 level. If not, it might correct lower and test the $90 support. The main support is now forming near the $80 level.

ADA, BNB, and DOT price

Cardano (ADA) is slowly moving higher towards the $0.988 resistance zone. A clear move above $0.988 might send the price towards $1.05.

Binance Coin (BNB) is gaining pace above the $420 level. If there is a move above $424, the price could rise to $430. The next key resistance is $435.

Polkadot (DOT) is consolidating near the $19.20 level. It seems like the bulls are aiming a test of the key $20.00 resistance.

A few trending coins are SOL, TRX, and THETA. Out of these, TRX gained over 15% and broke the $0.07 level.