Bitcoin Struggles, Ether Eyes Upside Break, NEAR Protocol Sets New ATH
After facing a strong rejection near $48,000, bitcoin price started a fresh decline. BTC declined below the $47,000 support level and the 21 simple moving average (H1).
However, the bulls remained active near the $45,700 level. As a result, there was a recovery wave above the $46,500 level and the 21 simple moving average (H1). It is now approaching a major resistance near $47,000 and a bearish trend line on the hourly chart.
A clear move above the trend line resistance could send the price towards $48,000. If not, the price could decline towards the $45,700 support.
Ether formed a strong base above the $3,700 level and started a fresh increase. The price was able to clear the $3,800 resistance and the 21 simple moving average (H1).
There was also a move above the $3,850 level. The next key barrier is $3,900, above which the price could revisit the $4,000 resistance. Any more gains may possibly push the price towards the $4,150 level. If not, there could be a fresh decline towards the $3,780 level.
There is also a key bullish trend line with support near $3,800 on the hourly chart. The next key support is near $3,700.
NEAR formed a base near the $7.5 level and started a major increase. The price was able to clear the $10.00 and $12.00 levels to move into a positive zone.
The main move was above the $12.50 level and a close above the 21-day simple moving average. There was a break above a major bearish trend line at $11.50 on the daily chart. The price advanced above the $15.00 level and traded to a new all-time high above $17.00.
It is now consolidating near the $17.00 level. If there is a downside correction, the price might test the $16.50 level or the 23.6% Fib retracement level of the upward move from the $7.50 swing low to $17.50 high.
If there is a major decline, the price could test the 50% Fib retracement level of the upward move from the $7.50 swing low to $17.50 high at $12.50.
On the upside, the bears are facing resistance near $17.50. The next major resistance is near the $18.00 level. A close above the $18.00 may perhaps send the price towards the $20.00 level.
ADA, BNB, and DOT price
Cardano (ADA) is slowly moving higher and trading near the $1.35 level. A close above $1.35 could set the pace for a move towards the $1.40 level. Conversely, there could be a move towards the $1.32 level.
Binance Coin (BNB) is struggling to gain pace for a move above the $525 level. If the bulls succeed, the price could rise towards the $532 level. The next major resistance is near the $550 level.
Polkadot (DOT) gained pace for a move above the $30.00 level. It is now consolidating near the $30.00 level. On the upside, it is facing resistance near $30.65, above which it could rise to $31.80.