Bitcoin and Ether Consolidate Above Support, DOGE Eyes Upside Break

Bitcoin

After struggling near $49,500, bitcoin price started a downside correction. BTC traded below the $49,000 support zone. It even moved below the $48,500 level and the 21 simple moving average (H1).

However, the bulls are now defending the $48,100 support zone. It seems like the price could decline heavily if there is a clear move below $48,100. The next major support is near $47,000.

On the upside, bitcoin is facing resistance near the $48,800 level and a connecting bearish trend line. A clear break above the trend line might push the price towards $50,000.

Ether (ETH)

Ether started a fresh decline below the $4,000 support zone. The price settled below the $3,950 level and the 21 simple moving average (H1). The bulls are now defending the $3,900 support zone.

A downside break below $3,900 might call for a sharp decline. On the upside, the price is facing resistance near the $3,950 level. There is also a major bearish trend line forming with resistance near $3,950 on the hourly chart.

An upside break above the trend line resistance could increase the chances of a move above the $4,000 zone in the near term.

Dogecoin (DOGE)

DOGE formed a base above the $0.150 level and started a decent increase. The price was able to surpass the $0.1800 resistance level. More importantly, there was a clear move above a major bearish trend line with resistance near $0.1750 on the daily chart.

The price is now consolidating near the $0.1760 level and the 21-day simple moving average. It traded above the 23.6% Fib retracement level of the key decline from the $0.3397 swing high to $0.1315 low.

On the upside, there is an important barrier forming near the $0.1950 level. If the bulls push DOGE above the $0.1950 and $0.2000 levels could set the pace for a larger increase.

The next stop for the bulls may perhaps be near the $0.2300 level. It is near the 50% Fib retracement level of the key decline from the $0.3397 swing high to $0.1315 low.

ADA, BNB, and DOT price

Cardano (ADA) is trading above the $1.35 pivot level. The next major resistance is near the $1.375 level. A close below $1.375 could send the price towards the $1.40 level in the near term.

Binance Coin (BNB) is facing a major resistance near the $535 level. An upside break above $535 might send the price towards the $550 level. If not, there is a risk of a move towards the $500 support zone in the near term.

Polkadot (DOT) is correcting losses from the $26.80 level. The price is back above $27.00. The first major resistance is near the $28.50 level. If there is an upside break, the price might revisit the $30.00 level.

A few trending coins are LPT, NEAR, and 1INCH. Out of these LPT is up over 20% and it cleared the key $45 resistance zone.