Bitcoin and ETH Face Hurdles, Why BNB Could Aim Fresh Surge
Key Insights:
- Bitcoin is consolidating below the $44,000 resistance.
- Ether is facing a major breakout hurdle near $3,270.
- BNB bulls might aim a larger rally above the $456 resistance.
Bitcoin
Recently, bitcoin price saw a major decline below the $45,000 support zone. There was a clear move below the $44,000 support level and the 21 simple moving average (H1).
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The price even declined below the $43,250 level and tested $42,800. It is now consolidating losses and attempting a recovery wave above the $33,250 level. On the upside, the price is facing a major hurdle near the $44,050 level.
There is also a key bearish trend line forming with resistance near $44,050 on the hourly chart. A move above $44,050 could resend the price towards the $45,000 resistance. If not, it could start a fresh another decline and may possibly trade below $42,800.
Ethereum (ETH)
ETH also followed a bearish path below the $3,420 support zone. The price gained pace below the $3,300 level and the 21 simple moving average (H1).
The bears even pushed the price below $3,200. It tested the $3,150 zone and is currently attempting a recovery wave. It broke a major bearish trend line with resistance near $3,200 on the hourly chart.
On the upside, the price is facing a key hurdle near the $3,270 level. A proper upside break above the $3,270 level could push the price towards the $3,420 resistance zone. If not, it could start a fresh another decline and may possibly trade below $3,150.
BNB
BNB formed a support base above the $350 level. The price started a steady upward wave above the $380 resistance.
The bulls were able to push the price above the $400 level and the 21-day simple moving average. However, the price seems to be facing a major barrier near the $450 and $456 resistance levels.
A clear upside break above the $456 resistance might stage a strong rally. The next key resistance might be $500, above which the bulls could aim a move towards the $550 level. If there is no upside break, the price could start a downside correction below the $420 level. The next major support is near $400.
There is also a key bullish trend line with support near $400 on the daily chart. A downside break below the trend line support could send the price towards the $365 support level.
ADA and DOT price
Cardano (ADA) traded below the $1.10 level and even dived below $1.05. It is currently consolidating above USD $1.08, with hurdles near $1.10 and $1.12.
Polkadot (DOT) is consolidating just above the $20.00 pivot level. A downside break and close below $20.00 might start a major decline.
A few trending coins are HBAR, ETC, and KSM. Out of these, ETC gained over 5% and there was a move above the $42 level.