Bitcoin and Ether Consolidate: What Could Spark Upside Break

Bitcoin

Recently, Bitcoin price saw a bearish reaction from them $38,700 zone. There was a break below $38,000 and the 21 simple moving average (H1).

The bears even pushed the price below the $37,000 level. However, the price stayed above the $36,200 pivot zone. It seems like there is a bullish continuation pattern (a bull flag) is forming with resistance near $38,000 on the hourly chart.

A clear break above the channel resistance could start a strong move. The next major hurdle for the bulls is near the $39,250 level. If not, there is a risk of a fresh decline towards the key $35,550 support zone.

Ether (ETH)

Ether struggled on a few occasions to clear the $2,640 resistance zone. Recently, there was a minor downside correction below the $2,550 level.

The price declined below the $2,500 level, but downsides were limited. There is a key bullish trend line forming with support near $2,510 on the hourly chart. If ETH fails to stay above the trend line support, it could decline towards the $2,350 support zone.

On the upside, the price is now facing resistance near the $2,640 and $2,650 levels. The bulls need to clear the $2,650 level to push the price towards the $2,800 resistance.

Terra (LUNA)

LUNA started a major decline after it failed to clear the $100 barrier. There was a major decline below the $80.00 and $60.00 levels.

Besides, there was a move below a key contracting triangle with support near $72 on the daily chart. The price settled below the $60 level and the 21-day simple moving average. The decline even gained pace for a move below the $50.00 level.

However, the price is now finding strong bids near the $45.00 and $42.00 levels. It is consolidating above the $42.00 level. An immediate resistance is near the $50 level.

The next major resistance is near the $55.00 level. A close above the $55.00 may perhaps send the price towards the $60.00 level. If not, there is a risk of a larger decline towards $32.

ADA, BNB, and DOT price

Cardano (ADA) is down over 4% and there was a break below the $1.05 support. If the bears remain in action, the price could test $1.00. On the upside, the main breakout zone is near $1.10.

Binance Coin (BNB) is consolidating near the $380 level. The bulls are facing selling interest near the $385. However, the main barrier for a larger increase sits near the $400 level.

Polkadot (DOT) settled below the $20.00 level and is trading near $18.20. If there are additional losses, the price might slide towards $17.50. The next major support is near the $16.65 level, where the bulls might emerge.

A few trending coins are FTT, MANA, and SAND. Out of these MANA is gaining momentum above the $2.55 resistance zone.