Bitcoin and Ether Could Face Hurdles, LUNA Shows Bullish Signs

Bitcoin

Recently, Bitcoin price saw a bearish reaction below the $38,000 support zone. There was a break below $37,000 and the 21 simple moving average (H1).

The bears even pushed the price below the $36,800 level. However, the price stayed above the $36,500 pivot zone. The price is now correcting losses and trading above $37,000. On the upside, there is a major resistance forming near $38,000 and $38,100.

There is also a key bearish trend line in place with resistance near $38,100 on the hourly chart. A clear break above the trend line could start a strong recovery. The next major hurdle for the bulls is near the $39,000 level. If not, there is a risk of a fresh decline towards the key $36,500 support zone.

Ether (ETH)

Ether struggled below the key $2,650 pivot level. It even declined below the $2,550 level and tested the $2,500 support. The bulls are now attempting a recovery wave above $2,550.

On the upside, the price is now facing resistance near the $2,640 and $2,650 levels. The main resistance is now near $2,700 and a bearish trend line, above which ether price might surge.

If ETH fails to clear the trend line resistance, it could decline towards the $2,500 support zone. The next major support sits near the $2,440 level.

Terra (LUNA)

LUNA found support near the $45.00 zone after a massive decline. The bulls appeared and protected more downsides to $40.00. A base seems to be forming above the $46.50 and $48.00 levels.

There is also a key bullish trend line forming with support near $47.20 on the daily chart. On the upside, an immediate resistance is near the $54.00 level and the 21-day simple moving average. The next major resistance is near the $55.00 level.

The first major hurdle is near the $60.00 level. It is near the 38.2% Fib retracement level of the downward move from the $90.00 swing high to $44.20 low.

A clear move above $60.00 might send the price towards $70.00. If not, there is a risk of a fresh decline below the trend line support and $45.00 in the near term.

ADA, BNB, and DOT price

Cardano (ADA) declined over 15% and tested the $0.815 zone. It is now correcting losses, but the bears might protect the $0.920 and $0.925 resistance levels.

Binance Coin (BNB) declined sharply and tested the $350 level, where it found support. The price is now rising and trading above $365. The next major resistance is near the $375 level.

Polkadot (DOT) extended decline below the $17.00 and $16.50 levels. The next major support is near the $16.00 level, below which the price might find a strong buying interest near $15.00.

A few trending coins are HBAR, HNT, and ANC. Out of these ANC rallied over 10% and surpassed the $2.50 level.