- Bitcoin jumped to $20,450 before correcting lower.
- Ether (ETH) is trading above the $1,085 and $1,070 support levels.
- MATIC surged over 10% but faces a major hurdle near $0.55.
In the past few sessions, bitcoin price found support and climbed above the $19,750 resistance. It even broke the $20,000 resistance and the 21 simple moving average (H1).
However, the bears defended the $20,450 zone. Recently, there was a downside correction below the $20,000 level and the 21 simple moving average (H1). The price is now trading near the $19,350 support and a connecting bullish trend line on the hourly chart.
If bitcoin price stays above $19,350, it could rise towards $19,750. The first major resistance is near the $20,000 level. The main resistance sits at $20,450, above which the price could start a steady increase.
ETH also followed a similar pattern after it formed a base above the $1,050 level. There was a decent increase above the $1,085 resistance and the 21 simple moving average (H1).
There was a clear move above the $1,130 resistance level before the bears appeared near $1,170. Recently, ether price corrected lower and traded below the $1,130 level. The bulls are now protecting the $1,085 support zone.
If there are more downsides, it could find support near $1,070. On the upside, the price might struggle near $1,135. The next major resistance is near the $1,170 level, above which the price could rise towards the $1,250 level.
MATIC found support near the $0.3200 level after a massive drop from well above the $1.10 and $1.00 support levels.
The price settled below the $0.50 level and the 21-day simple moving average. Recently, there was a recovery wave above the $0.420 and $0.450 resistance levels. It even broke the $0.50 resistance and the 21-day simple moving average.
However, the price is facing a major hurdle near the $0.54 and $0.55 levels. There is also a key bearish trend line with resistance near $0.55 on the daily chart.
A close above the $0.54 and $0.55 levels may perhaps send MATIC price towards the $0.70 resistance zone or even $0.75. If not, there is a risk of a fresh decline below the $0.45 level.
ADA, BNB, and DOT price
Cardano (ADA) is struggling to gain pace above the $0.455 level. It is slowly moving lower towards the $0.432 support zone.
Binance Coin (BNB) struggled near the $235 level and is correcting gains. The main support on the downside is near $220.
Polkadot (DOT) failed to stay above the $7.0 pivot level. The price is now trading near $6.75, with a major support at $6.62.