Bitcoin and ETH Could Correct Gains, NEAR Forms Bullish Pattern

Key Insights:

• Bitcoin recovered and traded above the $30,850 resistance.
• Ether (ETH) struggled to clear $2,000 and $2,020.
• NEAR is up over 15%, but it is facing hurdles near $6.20.

Bitcoin

Recently, bitcoin price gained pace and was able to clear the $30,850 resistance. The price even surpassed the $31,500 level and the 21 simple moving average (H1).

There was a move above the $32,000 level, but the bears defended more gains. The price is now correcting gains and trading below $31,500. It is now trading below the 21 simple moving average (H1) and testing a key bullish trend line with support near $31,250 on the hourly chart.

If there is a downside break below the trend line, bitcoin price might correct lower towards $30,850 or $30,000 in the near term.

Ethereum (ETH)

ETH also followed a bullish path after it broke the $1,840 resistance zone. The price cleared the key $1,915 resistance zone to enter a positive zone.

The price even surpassed the $1,950 level and the 21 simple moving average (H1). It is now struggling to clear the $2,020 resistance and correcting lower. An immediate support on the downside sits near the $1,940 level.

The main support is now forming near $1,880 and a connecting bullish trend line on the hourly chart. If there is a downside break below the trend line, ether price might drop lower towards $1,820 or $1,750 in the near term.

NEAR Protocol

NEAR started a major decline after it failed to surpass the $18.00 resistance. The price declined steadily below the $10.00 level and the 21-day simple moving average.

The price even spiked below the $6.50 level and tested the $5.00 zone. Recently, it formed a base above the $5.00 level and started a steady increase. Today, it gained over 15% and surpassed a key declining channel with resistance near $5.80 on the daily chart.

The price is now struggling to settle above the $6.20 resistance and the 21-day simple moving average. If the bulls manage to push the price above the $6.20 resistance zone, the price could start a major increase.

The next major resistance could be near the $8.30 level. If not, the price might start a fresh decline and revisit the $5.00 support.

ADA, BNB, and DOT price

Cardano (ADA) surged over 20% and cleared the $0.60 resistance. It even tested the $0.68 zone and failed to test the main $0.70 resistance zone.

Binance Coin (BNB) is slowly moving lower towards the $312 support zone. If the bears remain in action, the price could test the $300 level.

Polkadot (DOT) is consolidating above the $10.00 support. On the upside, the price may perhaps face resistance near $10.80 and $11.00.

A few trending coins are ICP, AXS, and AAVE. Out of these, AAVE is attempting an upside break above the $120 resistance.