Bitcoin and ETH Smash Resistance, Rune Bulls Aim Big

Key Insights:

• Bitcoin gained pace for a move above the $41,000 resistance.
• Ether (ETH) is showing positive signs above $3,080.
• RUNE surged over 18% and might rise further above $10.00.

Bitcoin

After a sharp decline and downside extension, bitcoin price found support near $38,850. BTC formed a base and started a decent recovery wave above the $40,000 level.

The bulls were able to push the price above the $40,650 zone and the 21 simple moving average (H1). The price even surged above a major hurdle near the $41,000 level on the hourly chart.

It is now showing positive signs above $41,000 level. The next major resistance is near the $41,800 level. A clear move above the $41,800 zone could open the doors for more upsides. If not, bitcoin price might decline to $40,580.

Ethereum (ETH)

ETH also followed a similar path after it spiked below the $2,900 level. The bulls appeared near $2,880 and protected heavy losses. The price is now rising and trading above $3,030.

There was a break above a connecting bearish trend line at $3,060 on the hourly chart.  Ether even climbed above $3,080 and the 21 simple moving average (H1). It is now facing a strong resistance near the $3,100 zone.

A successful close above $3,100 might set the pace for more gains. The next key hurdle is $3,165, above which the bulls might take control. If there is no upside break, the price could start a fresh decline towards the $3,025 or even $2,980.

THORChain (RUNE)

RUNE rallied sharply after it broke the $10 resistance zone. It even surpassed the $12 level before the bears appeared near the $13.20 zone.

The price started a downside correction below the $12 level. The price even declined below the $10 level and the 21-day simple moving average. Finally, it spiked below $8.50 and tested $7.50.

RUNE is now forming a base above the $8.00 level. It is up over 15% today and eyeing an upside break. It cleared the 23.6% Fib retracement level of the downward move from the $13.20 swing high to $7.42 low.

If the bulls remain in action, they could push the price above the $10 resistance and the 50% Fib retracement level of the downward move from the $13.20 swing high to $7.42 low.

The next major stop could be $12.00. If they fail, the price might resume its decline below the $8.00 level. The next key support sits at $5.90.

ADA, BNB, and DOT price

Cardano (ADA) is up 5% and trading near the $0.945 resistance. If there are more gains, the price may perhaps test the $0.98 resistance.

BNB is showing positive signs above the $415 level. If there is a close above the $422 resistance, the price may perhaps rise towards the $430 level.

Polkadot (DOT) is up 5% and there was a move above the $18.00 resistance. It is trading above $18.50 and might even test $18.80.

A few trending coins are LUNA, NEAR, and MATIC. Out of these, LUNA gained over 15% and might soon test the $100 level.