Bitcoin and Ether Reach Crucial Juncture, AVAX Rally Faces Hurdle

Key Insights

• Bitcoins’ recovery is facing resistance at $39,350
• Ether might struggle to clear $2,750
• AVAX rallied 15%, but now faces hurdles near $82-$85

Bitcoin

After forming a base above $37,000, Bitcoin price started a fresh increase. There was a clear break above the $38,000 resistance level.

The price even broke the $38,400 resistance and settled above the 21 simple moving average (H1). There was also a break above a major bearish trend line at $38,200 on the hourly chart. However, the bulls are now facing a strong resistance near the $39,250 and $39,400 levels.

If there is an upside break, the price could even surpass $40,000. If not, it might start a fresh decline to $38,000 in the near term.

Ether (ETH)

Ether also followed a similar pattern and started a fresh increase above the $2,600 level. The price settled above the $2,700 level and the 21 simple moving average (H1).

There was also a break above a key bearish trend line at $2,700 on the hourly chart. The price is now consolidating near the $2,755 resistance zone. If the bulls remain in action, the price could surge towards the $2,920 resistance zone.

Conversely, the price might correct gains and test the $2,665 support zone. A downside break below the $2,665 support could push the price further lower below $2,600.

Avalanche (AVAX)

AVAX popped above the $90.00 resistance level. There was a spike above a crucial bearish trend line with resistance near $90.00 on the daily chart.

However, it turned out to be a false break and the price corrected gains. There was a move below the $80.00 support level. It even declined below the 50% Fib retracement level of the upward move from the $51.50 swing low to $99.20 high.

Finally, it found support near the $68.00 zone. The bulls protected the 61.8% Fib retracement level of the upward move from the $51.50 swing low to $99.20 high.

AVAX started a fresh rally and climbed above the $75.00 resistance. It is now facing a major hurdle near $82.00 and the 21-day simple moving average. The next hurdle is near the trend line at $86.00.

If there is a clear upside break, the price could surge above $90.00 and $95.00. If not, the price might correct gains and test the $70.00 support.

ADA, BNB, and DOT price

Cardano (ADA) is up 6% and there was a move above the $0.925 level. The bulls are now attempting a break above the $0.942 resistance.

Binance Coin (BNB) is moving higher towards the $385 resistance. The next major resistance is near the $392 level. If the bulls remain in control, the price could even surge above $400.

Polkadot (DOT) gained 5% and broke the $17.00 level. The next key hurdle is near the $17.50 level, where the bears might take a stand.

A few trending coins are LUNA, CRO, and LINK. Out of these LUNA is up 10% and there was a move above the $60 level.