Bitcoin and Ether Rally, Here’s Why AVAX Could Surge

Bitcoin

Recently, bitcoin price started a strong upward move above the $42,000 level. BTC climbed above the $43,000 resistance level and the 21 simple moving average (H1).

The price even settled above the $43,000 level and cleared the $43,500 level. The price spiked above $44,000 and showing a few positive signs. The next major stop for the bulls could be $45,000.

If there is a downside correction, the price might find support near the $43,100 level. There is also a key bullish trend line forming with support near $42,500 on the hourly chart. A downside break below the trend line support could push the price further lower below $42,000. The next major support sits at $41,500, below which there is a risk of a larger decline.

Ether (ETH)

Ether also started a major upward move above the $3,200 resistance. There was a clear break above the key $3,255 resistance and a close above the 21 simple moving average (H1).

The price is now consolidating near the $3,350 zone. If the bulls remain in action, the price could surge towards the $3,450 level. Conversely, the price might correct gains and test the $3,300 support zone.

The main support is near the $3,255 level and a major bullish trend line on the hourly chart. A downside break below the trend line support could push the price further lower below $3,200.

Avalanche (AVAX)

AVAX retested the main $75.00 support zone. As a result, there was a fresh increase above the $80.00 resistance level. It seems like the price is forming a double bottom pattern with support near $75.00 on the daily chart.

There was a clear move above the 23.6% Fib retracement level of the last major decline from the $127.00 swing high to $76.80 swing low.

The price is now approaching the $100.00 resistance zone. The next major resistance is near the $103.00 level and 21-day simple moving average. It is near the 50% Fib retracement level of the last major decline from the $127.00 swing high to $76.80 swing low.

The main resistance is near the $110.00 level and a key bearish trend line on the daily chart. If the double bottom pattern is valid, AVAX price could surge above $110.00 and $120.00.

ADA, BNB, and DOT price

Cardano (ADA) started a major upward move above the $1.20 level. The price is up over 10% and there was a break above the $1.25 level. It is now approaching the next major resistance near $1.30 level.

Binance Coin (BNB) is gaining pace above the $465 resistance zone. The next major resistance is near the $488 level. If the bulls remain in control, the price could even surge above $500.

Polkadot (DOT) rallied over 10% and there was a move above the $27 level. Any more gains could send the price towards the $28.50 and $28.80 levels.

A few trending coins are LUNA, MATIC, and SHIB. Out of these LUNA is up over 12% and it cleared the key $78.00 resistance zone.