Bitcoin and ETH Remains At Risk, ApeCoin Rallies Above $20

Key Insights:

• Bitcoin climbed above $39,500, but stayed below $40,000.
• Ether (ETH) struggled to clear $2,950.
• APE gained pace and broke the $20.00 resistance (as discussed in the last analysis).

Bitcoin

Recently, bitcoin price started a decent upward move above the $38,450 resistance. There was a clear move above the $39,250 level and the 21 simple moving average (H1).

However, the price struggled to clear the $40,000 resistance zone. It seems to be forming a short-term top near $39,850 and is currently moving lower. There was a break below a major bullish trend line with support near $39,500 on the hourly chart.

There was a move below the $39,400 support and the 21 simple moving average (H1). If the bears remain in action, the price may perhaps decline towards the $38,450 support zone.

Ethereum (ETH)

ETH also followed a similar pattern above the $2,840 level. The price gained pace above the $2,900 level and the 21 simple moving average (H1).

The price even climbed above the key $2,915 resistance, but the bears were active near $2,950. Ether price is now moving lower and trading below $2,900. There is a key rising channel forming with support near $2,875 on the hourly chart.

Any more losses might send the price towards the $2,840 level. The next major support sits near the $2,800 level. On the upside, the bears might remain active near $2,950.

ApeCoin (APE)

APE remained in a strong uptrend above the $15.00 level and the 21-day simple moving average (as discussed in the last analysis).

There was a consolidation phase above the $19.00 level. Finally, the price gained strength and started a fresh surge above the $19.65 resistance level. The price even climbed above $20.00 to set a new monthly high.

It is now showing positive signs above the $20.50 level. The next key resistance on the upside may perhaps be near $21.20 or $22.00.

If there is a downside correction, the price might test the $20.00 support. The first major support is now forming near the $19.65 level and a trend line on the daily chart. Any more losses may perhaps send the price towards the $17.80 level.

ADA, BNB, and DOT price

Cardano (ADA) is still struggling below the $0.850 resistance zone. It is moving lower and there is a risk of a move towards the $0.800 level.

Binance Coin (BNB) attempted a fresh increase above the $400 pivot level. However, there was no close above the $400 level and the price is now correcting gains.

Polkadot (DOT) traded below the $17.20 and $17.00 support levels to move into a bearish zone. The next major support is near $16.50, where the bulls might take a stand.

A few trending coins are GMT, GRT, and SKL. Out of these, SKL gained pace above the $0.190 resistance and surged over 20%.