Bitcoin Struggles, ETH Eyes Strong Rally, NEAR Price Could Surge To $7

Key Insights:

• Bitcoin is consolidating near the $23,000 level.
• Ether (ETH) is eyeing more gains above $1,700.
• NEAR broke a major resistance and might eye a move towards $7.

Bitcoin

Recently, bitcoin price failed to clear the $23,450 resistance and moved lower below the $23,200 support zone. The price even spiked below the $22,550 level and the 21 simple moving average (H1).

However, the bulls remained active near the $22,425 level. The price started a fresh recovery wave above the $22,800 level. It surpassed the $23,000 level and the 21 simple moving average (H1). Besides, there was a break above a bearish trend line forming with resistance near $23,050 on the hourly chart.

The price is still facing a major resistance near the $23,550 and $23,600 levels. A clear move above the $23,600 level could start a decent increase. If there is no upside break, bitcoin might continue to move down towards the $22,000 support.

Ethereum (ETH)

ETH followed a bullish path after it broke the $1,600 resistance zone. The price cleared the key $1,650 resistance zone to enter a positive zone.

The price even surpassed the $1,680 level and the 21 simple moving average (H1). It is now struggling to clear the $1,700 resistance and consolidating gains. An immediate support on the downside sits near the $1,680 level.

The main support is now forming near $1,650. If there is a downside break below $1,650, ether price might drop lower towards $1,600. Conversely, it could surge towards $1,780.

NEAR Protocol

NEAR found support near the $2.90 zone after a strong decline. The price formed a base near the $3.00 level and started a decent increase.

The price was able to clear the $3.50 and $4.00 resistance levels. Besides, NEAR surpassed a key bearish trend line with resistance near $4.00 on the daily chart. It settled above the $4.20 resistance level and the 21-day simple moving average. It opened the doors for a move above the $5.0 level.

The price is up over 12% in a day and is showing signs of more gains above the $5.00 resistance. It is now struggling to settle above the $5.20. If the bulls manage to push the price above the $5.20 resistance zone and $5.32, the price could rally further.

The next major resistance could be near the $7.00 level. If not, the price might start a fresh decline and revisit the $4.0 support.

ADA, BNB, and DOT price

Cardano (ADA) is climbing higher towards the $0.525 level. If there are more upsides, the price could test the $0.55 level.

Binance Coin (BNB) is slowly moving higher towards the $325 resistance zone. If there is a clear move, the price could rise towards the $340 level.

Polkadot (DOT) is showing positive signs above the $8.20 support. On the upside, the price may perhaps face resistance near $8.50 and $8.65.

A few trending coins are FLOW, THETA, and WAVES. Out of these, THETA gained over 10% and there was a move above the $1.60 resistance.