Bitcoin and Ether Correct Gains, NEAR Could Pop Further

Key Insights

• Bitcoin struggled to clear $45,000 and corrected lower.
• Ether made two attempts to clear $3,035 but failed.
• NEAR rallied over 20% and might continue to rise.

Bitcoin

After facing a strong rejection near $45,000, Bitcoin price started a downside correction. BTC declined below the $44,000 support level and the 21 simple moving average (H1).

There was also a break below a connecting bullish trend line with support near $44,000 on the hourly chart. The price is now trading near the $43,650 level. Immediate support is near the $43,150 level.

The first key support is near the $42,950 level. If the price fails to stay above $42,950, it could extend the decline towards the $41,650 support zone. On the upside, the price might face resistance near $44,000 and the 21 simple moving average (H1). The main resistance is still near $45,000.

Ether (ETH)

Ether popped above the $2,950 and $3,000 resistance levels. However, it faced a strong resistance near the $3,035 and $3,040 levels.

The bulls made two attempts to clear $3,035 but failed. As a result, there was a downside correction below $3,000. There was also a break below a key bullish trend line with support near $2,980 on the hourly chart.

The price is now trading near the $2,950 level. Immediate support is near the $2,920 level. The first key support is near the $2,840 level, below which there is a risk of a larger decline.

NEAR Protocol

NEAR remained well supported near the $8.25 level. The price started a major increase and there was a clear move above the $8.00 and $8.50 levels.

Besides, there was a break above a crucial bearish trend line with resistance near $8.50 on the daily chart. The price even popped above the $10.00 level and the 21-day simple moving average.

It is now struggling to clear the 61.8% Fib retracement level of the key decline from the $14.30 swing high to $8.20 low. The next major resistance is near the $12.80 level.

A close above the $12.80 may perhaps send the price towards the $14.00 level. The next major resistance could be near the $15.50 level.

ADA, BNB, and DOT price

Cardano (ADA) popped to test the $1.00 resistance, where the bears took a stand. It is now correcting lower and testing $0.95. The next major support sits near $0.92.

Binance Coin (BNB) settled above the $400 level. It even tested the $425 resistance. If BNB stays above $400, it could soon attempt a move above $425. If not, it could correct lower towards the $385 level.

Polkadot (DOT) struggled to clear the $19.20 resistance zone. It is now near $18.50 and might decline towards the $18.00 support zone.

A few trending coins are LUNA, FTM, and RUNE. Out of these, FMT is aiming for an upside break above the $2.00 resistance level.