Bitcoin and ETH Price Prediction: Bulls Keeps Pushing, MATIC Rally Reaches Hurdle

·3 min read

Key Insights:

  • Bitcoin is slowly moving higher towards the $21,500 resistance.

  • Ether (ETH) gained pace for a move towards the $1,220 resistance.

  • MATIC surged over 20% and now faces a key hurdle at $0.60.

Bitcoin

After a spike below the $20,000 level, bitcoin price found support. It started a fresh increase and was able to climb above the $20,500 resistance zone.

There was a clear move above the $21,000 resistance level and the 21 simple moving average (H1). BTC is now facing resistance near the $21,400 level. The first major resistance is near the $21,500 level. The main resistance sits at $21,750, above which the price could start a steady increase.

BTC Hourly Chart by FXEmpire
BTC Hourly Chart by FXEmpire

If not, there is a risk of a move towards the $20,500 support. The main support sits at $19,780, below which the price could dive.

Ethereum (ETH)

ETH also followed a similar pattern after it formed a base above the $1,060 level. There was a decent increase above the $1,165 resistance and the 21 simple moving average (H1).

There was a clear move above the $1,190 resistance level. ETH is now facing resistance near the $1,220 level. The next major resistance is near the $1,250 level, above which the price could rise towards the $1,320 level.

ETH Hourly Chart by FXEmpire
ETH Hourly Chart by FXEmpire

If there is a downside correction, the previous resistance at $1,165 could act as a support. The next major support sits near the $1,100 level.

Polygon (MATIC)

MATIC started major drop from the $1.20 resistance zone. The bears gained strength for a move below the $1.10 and $1.00 support levels.

The price settled below the $0.80 level and the 21-day simple moving average. Finally, it traded below the $0.50 level and tested the $0.32 support. A base is formed above the $0.35 level and there is a strong bullish candle in place on the daily chart.

MATIC Daily Chart by FXEmpire
MATIC Daily Chart by FXEmpire

Recently, the price gained over 20% and broke the $0.50 resistance. It is now facing a strong resistance near the $0.60 and a connecting bearish trend line on the daily chart.

A close above the $0.60 and $0.67 levels may perhaps send MATIC price towards the $0.75 resistance zone or even $0.80. If not, there is a risk of a fresh decline below the $0.50 level.

ADA, BNB, and DOT price

Cardano (ADA) is slowly moving higher and facing resistance near $0.50. A close above $0.50 might start a strong increase in the coming sessions.

Binance Coin (BNB) is up over 5% and trading above $235 resistance. If the bulls remain in action, the price could rise towards $250.

Polkadot (DOT) is up 5% and trading above the $8.0 resistance zone. On the upside, the $8.80 level presents a major hurdle.

A few trending altcoins are SOL, AVAX, and TRX. Out of these, TRX is gaining pace above the $0.065 resistance zone.

This article was originally posted on FX Empire

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