Bitcoin price is facing resistance near $30,800, Ethereum’s ether is struggling near $1,915, and LEO is eyeing a crucial upside break above $5.25
Recently, bitcoin price started a decent increase above the key $28,550 level. The price was able to surpass the $29,400 resistance level and the 21 simple moving average (H1).
There was also a move above a connecting bearish trend line with resistance near $29,100 on the hourly chart. It opened the doors for a steady increase and the price climbed above the $30,000 resistance zone.
On the upside, bitcoin is now facing a major resistance near the $30,800 zone. A clear move above the $30,800 zone could start another steady increase, may be towards $31,500. If the bulls fail, the price could decline and revisit the $29,400 support.
ETH also started a fresh increase from the $1,720 zone. The bulls were able to push the price above the $1,825 resistance zone and the 21 simple moving average (H1).
It even cleared the $1,880 level, but the bears seem to be active near $1,915. A close above the $1,915 is needed to start a decent increase. In the stated case, ether price could rise and test the $2,000 resistance zone.
If not, there is a risk of a move towards the $1,825 support and a major bullish trend line on the hourly chart.
LEO started a strong decline after it topped near the $8.00 level. The bears pushed the price below the $6.50 and $6.00 support levels.
It even moved below the $5.00 level and the 21-day simple moving average. Finally, the price found support near the $4.80 zone. Recently, LEO price started a fresh increase above the $5.00 level.
The price is now trading above the 21-day simple moving average, but there is a major hurdle waiting near $5.25. There is also a key bearish trend line at $5.26 on the daily chart. A clear move above the $5.25 resistance could initiate a strong rally.
The next major resistance is near the $6.20 level. If there is no upside break, the price could restart decline and test the $4.20 level.
Cardano (ADA) gained over 10% and was able to surpass the $0.52 resistance. It seems like the bulls might aim a break above the $0.55 resistance.
BNB is consolidating near the $312 and $315 levels. On the upside, the bears might remain active near the $320 level.
Polkadot (DOT) is up 5% and trading above the $10.00 level. An immediate resistance is $10.50, above which it could rise to $10.80.
A few trending coins are EGLD, AAVE, and THETA. Out of these, THETA is up 10% and trading above the $1.25 resistance zone.
Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specializes in market strategies and technical analysis, and has spent over a decade as a financial markets contributor and observer