Bitcoin and ETH Price Prediction: Bulls Eye Reversal, ETC Rallies 20%

Key Insights:

  • Bitcoin climbed above the key $21,650 resistance zone.
  • Ether (ETH) surged over 10% and even climbed above $1,500.
  • ETC registered three strong green candles on the daily chart.

Bitcoin

Recently, bitcoin price started a decent increase following ether’s rise above $1,400. There was a clear move above the $21,650 resistance zone and the 21 simple moving average (H1).

The bulls were able to push the price above the $22,000 resistance zone. It tested the $22,500 resistance zone and is currently correcting lower. On the downside, the previous resistance at $21,650 might act as a support.

Bitcoin BTC Hourly Chart
BTC Hourly Chart by FXEmpire

On the upside, there is a key bearish trend line forming with resistance near $22,100 on the hourly chart. A clear move above the trend line might start a steady increase towards $22,500, above which bitcoin could rise towards $23,500.

Ethereum (ETH)

ETH outperformed and rallied above the $1,385 resistance zone. The bulls even pumped the price above the $1,420 level and the 21 simple moving average (H1).

Finally, there was a spike above the $1,500 level and ether traded to a new multi-week high. It is now consolidating gains near the $1,475 level. On the downside, there is a major bullish trend line forming with support near $1,420 on the hourly chart.

Ether ETH Hourly Chart
ETH Hourly Chart by FXEmpire

On the upside, there are many hurdles forming near $1,500. A close above the $1,500 level could start a anther increase and the price might test $1,580.

Ethereum Classic (ETC)

ETC found support near the $12.50 level after a strong decline. A base was formed near $12.50 and $13.50 before the price started a recovery wave.

The price was able to climb above the $18.00 resistance. Besides, there was a move above a key bearish trend line with resistance near $16.50 on the daily chart. ETC gained over 20% and was able to clear the 23.6% Fib retracement level of the downward move from the $34.00 resistance zone to $12.50 low.

ETC Daily Chart
ETC Daily Chart by FXEmpire

The next major resistance is near the $25.50 level. A clear move above the $25.50 resistance could initiate a strong reversal. In the stated case, the price could test $35 or the 50% Fib retracement level of the downward move from the $34.00 resistance zone to $12.50 low.

If there is no upside break, the price could start a downside correction below $20. The next major support sits near the $18.00 level.

ADA, BNB, and DOT price

Cardano (ADA) is up over 8% and there was a move above the $0.48 resistance. The next major resistance sits near $0.50.

BNB was able to clear the $255 resistance. On the upside, the bears might remain active near the $280 level.

Polkadot (DOT) is slowly moving higher towards the $7.65 resistance. A clear move above $7.65 could set the pace for a move to $8.00.

A few trending coins are MATIC, AVAX, and UNI. Out of these, AVAX is up over 10% and might rise towards the $25.00 level.