Key ideas:
- Bitcoin tested the $20,550 zone and recouped the losses.
- Ether (ETH) is showing positive signs above the $1,200 level.
- APE broke a major downtrend line on the daily chart and rebounded over 15%.
Bitcoin
Recently, bitcoin price corrected below the $21,000 support zone. It even peaked below the $20,650 support and the 21 simple moving average (H1).
However, the bulls were active near the $20,550 area. The price formed a base and rallied above the $21,000 level. It is now trading near $21,000 and above the 21 simple moving average (H1).
On the upside, bitcoin faces resistance near a falling trend line at $21,050 on the hourly chart. A clear move above $21,050 and $21,250 is a must to begin a decent rise. Otherwise, it could move towards $20,000.
Ethereum (ETH)
ETH also followed a similar pattern and corrected below the $1,200 level. The price tested the key $1,165 support zone, where it found strong buying interest.
The price rallied above the $1,200 level and the 21 simple moving average (H1). There was a clear move above a key downtrend line at $1,205 on the hourly chart. It is now consolidating near the $1,225 level.
On the upside, the price of Ether faces resistance near $1,250. A clear move above $1,250 could set the tone for a bigger rise.
ApeCoin (APE)
APE started a steep decline from the $28 resistance zone. There was a move below the $15 and $12 support levels to move into a bearish zone.
The price even dipped below the $10 level and the 21-day simple moving average. Finally, it tested the $3.2 support area, where it found strong offers. A base was formed and the price recovered above the $4.50 level.
Recently, the price gained more than 15% and broke above a major downtrend line at $5.0 on the daily chart. The price is now trading well above $5.0 and the 21-day simple moving average.
The next key upside resistance could be near $5.40 or $5.50. A sharp close above the $5.50 resistance could open the doors for a further push towards $10.
ADA, BNB and DOT prices
Cardano (ADA) is still struggling below the $0.50 resistance zone. A close above $0.50 and $0.512 could push the price up towards $0.565.
Binance Coin (BNB) is advancing towards the $240 level. The next major resistance is near $250, above which it could test $265.
Polkadot (DOT) is attempting a further rise above the $8.0 resistance. If the bulls are successful, the price could rise towards the $8.80 level.
A few trending pieces are FLOW, XTZ and BTT. Among these, XTZ is advancing above the $1.65 resistance zone.
