- Bitcoin failed to extend gains and declined below $22,000.
- Ether is showing bearish signs below $1,400.
- BNB is approaching a major bullish trend line on the daily chart.
After a spike above the $23,000 resistance, bitcoin price faced sellers. There was a bearish reaction and the price declined below the $22,000 support.
There was a break below the $21,240 support and the 21 simple moving average (H1). It even broke the $21,000 level and is now consolidating above the $20,800 level. On the upside, the price is facing a major hurdle near the $21,400 level and a connecting bearish trend line.
A clear move above the $21,400 level could start a decent increase. If there is no upside break, bitcoin might continue to move down towards the $20,000 support.
ETH formed a double top pattern near the $1,640 level and started a major decline. There was a clear move below the $1,540 support zone.
Besides, the bears pushed the price below a key bullish trend line with support near $1,500 on the hourly chart. Finally, the price settled below the $1,400 level and the 21 simple moving average (H1).
It is now consolidating, with an immediate resistance at $1,405. The next major resistance is near the $1,465 level. A clear upside break above the $1,465 level and $1,480 could stage a strong increase.
Conversely, it could continue to move down towards the main support at $1,300. Any more losses might put a lot of pressure on the bulls.
BNB formed a base near the $180 zone before it started a recovery wave. There was a steady increase above the $200 and $225 resistance levels.
The price climbed above the 50% Fib retracement level of the key decline from the $340 swing high to $185 low. The price even moved above the $250 level and the 21-day simple moving average. However, the bears appeared near the $275 zone.
The price failed to clear the 61.8% Fib retracement level of the key decline from the $340 swing high to $185 low. It is now moving lower and approaching a major bullish trend line on the daily chart at $240. A clear downside break below the trend line support could spark a move towards the $200 support.
ADA and DOT price
Cardano (ADA) is trading below the $0.465 level. It is now consolidating near the $0.45 level and might attempt a recovery wave towards the $0.48 level.
Polkadot (DOT) is again trading below the $7.0 level. The next major support is near $6.50, below which the bears might aim a test of $6.20.