Bitcoin and ETH Price Prediction: Bulls Keep Pushing, Why ApeCoin Could Skyrocket
Key Insights:
- Bitcoin tested the $20,550 zone and recovered losses.
- Ether (ETH) is showing positive signs above the $1,200 level.
- APE broke a major bearish trend line on the daily chart and rallied over 15%.
Bitcoin
Recently, bitcoin price corrected lower below the $21,000 support zone. It even spiked below the $20,650 support and the 21 simple moving average (H1).
However, the bulls were active near the $20,550 zone. The price formed a base and recovered above the $21,000 level. It is now trading near $21,000 and above the 21 simple moving average (H1).
Your capital is at risk
On the upside, bitcoin is facing resistance near a connecting bearish trend line at $21,050 on the hourly chart. A clear move above $21,050 and $21,250 is must to start a decent increase. If not, 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 a strong buying interest.
The price recovered above the $1,200 level and the 21 simple moving average (H1). There was a clear move above a key bearish trend line at $1,205 on the hourly chart. It is now consolidating near the $1,225 level.
On the upside, ether price is facing resistance near the $1,250. A clear move above $1,250 could set the tone for a larger increase.
ApeCoin (APE)
APE started a strong 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 declined below the $10 level and the 21-day simple moving average. Finally, it tested the $3.2 support zone, where it found strong bids. A base was formed and the price recovered above the $4.50 level.
Recently, the price gained over 15% and surpassed a major bearish trend 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 resistance on the upside may perhaps be near $5.40 or $5.50. A clear close above the $5.50 resistance could open the doors for a fresh surge towards $10.
ADA, BNB, and DOT price
Cardano (ADA) is still struggling below the $0.50 resistance zone. A close above $0.50 and $0.512 might send the price higher towards $0.565.
Binance Coin (BNB) is moving higher towards the $240 level. The next major resistance is near $250, above which it could test $265.
Polkadot (DOT) is attempting a fresh increase above the $8.0 resistance. If the bulls succeed, the price could rise towards the $8.80 level.
A few trending coins are FLOW, XTZ, and BTT. Out of these, XTZ is gaining pace above the $1.65 resistance zone.