Bitcoin and ETH Price Prediction: Upsides At Risk, ATOM Could Rally To $15

Key Insights

• Bitcoin corrected lower below $23,500 and $23,200.
• Ether price tested the key $1,460 support zone.
• ATOM is rising and might rally further if it clears $12.50.

Bitcoin (BTC)

After struggling to clear the $24,275 zone, bitcoin started a downside correction. There was a clear move below the $23,080 support zone and the 21-day simple moving average (H1).

The price even declined below the $23,000 level which had previously provided support. BTC is now trading near a major support at $22,400. If there is a downside break, the price could decline to $21,650.

The next major support sits at $21,000, below which could see BTC falling back down to the $20,000 psychological level.

In the event of a rebound, bitcoin needs to breakout of the $23,080 resistance zone and consolidate above for at least a few days. The next major hurdle is near $24,000.

Ethereum (ETH)

Ether also followed a similar pattern and started a fresh decline from the $1,625 resistance zone. The price declined below the $1,550 level and the 21-day simple moving average (H1).

It is now consolidating near the $1,480 zone. The next major support sits at $1,460, below which the price could decline towards the $1,385 support zone. If this current level holds, ether may start a fresh rally from the $1,460 zone.

On the upside, there is a major resistance near the $1,550 zone on the hourly chart, above which the price could revisit the $1,625 zone.

Cosmos (ATOM)

After a few weeks of heavy selling, ATOM formed a support near the $5.00 zone. A strong base was formed and the price started a major rally above the $6.50 and $7.50 levels.

There was a clear move above the $8.00 resistance and the 21-day simple moving average. Additionally, there was a break above a major bearish trend line at $8.80 on the daily chart and ATOM is now attempting an upside break above the $11.00 zone.

The main resistance sits near the $12.50 level which has previously prevented a breakout. A close above $12.50 could set the pace for a larger rally. The next stop for the bulls might be $15.00 or $16.50 after that.

If ATOM is unable to push past $12.50, then it may pullback towards the support at $10 before reattempting a move upward.

ADA, BNB, and DOT price

Cardano (ADA) is down 9% and struggling to stay above the $0.475 level. On the upside, the $0.50 zone might act as a breakout zone.

BNB is consolidating at the $260 level. If the bulls are unable to push above, then BNB might decline towards the $230 level.

Polkadot (DOT) is down 8% and trading below the $7.50 level. The next major support is at $7.20, below which the price might decline towards $7.00.

A few trending coins are ETC, RUNE, and CRV. Out of these, CRV is gaining pace above the $1.28 level and might climb above the $1.30 level if current momentum continues.