Bitcoin price started a decent recovery wave above $88,000. BTC is now consolidating below $89,000 and might aim for a fresh increase.

• Bitcoin started a recovery wave above the $87,500 zone.
• The price is trading above $87,500 and the 100 hourly Simple moving average.
• There is a bullish trend line forming with support at $87,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move up if it settles above the $89,100 zone.

Bitcoin Price Eyes More Gains

Bitcoin price attempted a fresh recovery wave above $87,500 and $88,000. BTC even cleared the $88,800 resistance and tested the $90,500 hurdle.

A high was formed at $90,552 and the price is now consolidating gains. There was a minor decline below $89,000 and $88,500. The price dipped below the 23.6% Fib retracement level of the upward move from the $84,420 swing low to the $90,552 high.

Bitcoin is now trading above $87,800 and the 100 hourly Simple moving average. There is also a bullish trend line forming with support at $87,900 on the hourly chart of the BTC/USD pair.

If the price remains stable above the trend line, it could attempt more gains. Immediate resistance is near the $89,100 level. The first key resistance is near the $89,500 level. The next resistance could be $90,500. A close above the $90,500 resistance might send the price further higher. In the stated case, the price could rise and test the $92,000 resistance. Any more gains might send the price toward the $92,500 level. The next barrier for the bulls could be $93,200 and $93,500.

Another Decline In BTC?

If Bitcoin fails to rise above the $89,500 resistance zone, it could start another decline. Immediate support is near the $88,000 level and the trend line. The first major support is near the $87,500 level.

The next support is now near the $86,750 zone and the 61.8% Fib retracement level of the upward move from the $84,420 swing low to the $90,552 high. Any more losses might send the price toward the $85,450 support in the near term. The main support sits at $84,500, below which BTC might accelerate lower in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $88,000, followed by $87,500.

Major Resistance Levels – $89,500 and $90,500.

Ethereum price started a fresh increase above $3,120. ETH is now attempting to clear the $3,250 resistance and might accelerate higher.

• Ethereum started a fresh increase above the $3,000 and $3,120 levels.
• The price is trading above $3,150 and the 100-hourly Simple Moving Average.
• There is a bullish trend line forming with support at $3,120 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to move up if it settles above the $3,250 zone.

Ethereum Price Eyes More Gains

Ethereum price managed to stay above $2,880 and started a fresh increase, like Bitcoin. ETH price gained strength for a move above the $2,950 and $3,000 resistance levels.

The bulls even pumped the price above $3,120.  However, the price is now testing a key barrier at $3,250. A high was formed at $3,239 and the price is now consolidating above the 23.6% Fib retracement level of the recent move from the $2,718 swing low to the $3,239 low.

Ethereum price is now trading above $3,150 and the 100-hourly Simple Moving Average. If there is another upward move, the price could face resistance near the $3,250 level.

The next key resistance is near the $3,265 level. The first major resistance is near the $3,320 level. A clear move above the $3,320 resistance might send the price toward the $3,450 resistance. An upside break above the $3,450 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,500 resistance zone or even $3,540 in the near term.

Downside Correction In ETH?

If Ethereum fails to clear the $3,250 resistance, it could start a fresh decline. Initial support on the downside is near the $3,160 level. The first major support sits near the $3,120 zone and the trend line.

A clear move below the $3,120 support might push the price toward the $3,050 support. Any more losses might send the price toward the $2,980 region and the 50% Fib retracement level of the recent move from the $2,718 swing low to the $3,239 low in the near term. The next key support sits at $2,920 and $2,880.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,120

Major Resistance Level – $3,250

Ethereum price started a fresh increase above the $2,450 zone. ETH is now back above $2,550 and might soon aim for more gains.

• Ethereum started a fresh increase above the $2,550 level.
• The price is trading above $2,575 and the 100-hourly Simple Moving Average.
• There is a short-term rising channel forming with support at $2,570 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it remains supported above the $2,520 zone in the near term.

Ethereum Price Eyes More Gains

Ethereum price started a fresh increase above the $2,450 zone, like Bitcoin. ETH price gained pace for a move above the $2,550 resistance zone and entered a positive zone.

The bulls were able to push the price above the $2,620 resistance. However, there was no upside extension. A high was formed near $2,636 and the price corrected some gains. There was a move toward the 23.6% Fib retracement level of the upward move from the $2,373 swing low to the $2,636 high.

Ethereum price is now trading above $2,560 and the 100-hourly Simple Moving Average. Besides, there is a short-term rising channel forming with support at $2,570 on the hourly chart of ETH/USD.

On the upside, the price could face resistance near the $2,625 level. The next key resistance is near the $2,640 level. The first major resistance is near the $2,650 level. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance.

An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone or even $2,800 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $2,620 resistance, it could start a fresh decline. Initial support on the downside is near the $2,570 level. The first major support sits near the $2,520 zone.

A clear move below the $2,520 support might push the price toward the $2,500 support. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,350.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,520

Major Resistance Level – $2,620

Bitcoin price started a fresh increase above the $107,500 zone. BTC is now consolidating and might aim for a move above the $108,800 resistance.

• Bitcoin started a fresh increase above the $107,500 zone.
• The price is trading above $107,500 and the 100 hourly Simple moving average.
• There is a bullish trend line forming with support at $107,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a fresh increase if it stays above the $106,500 zone.

Bitcoin Price Eyes More Gains

Bitcoin price started a fresh increase above the $105,000 zone. BTC gained pace and was able to climb above the $105,500 and $106,500 levels to enter a positive zone.

The bulls pushed the price above the $107,500 resistance and the price tested the $108,800 zone. A high was formed at $108,792 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $106,477 swing low to the $108,792 high.

Bitcoin is now trading above $107,000 and the 100 hourly Simple moving average. There is also a bullish trend line forming with support at $107,600 on the hourly chart of the BTC/USD pair.

On the upside, immediate resistance is near the $109,800 level. The first key resistance is near the $109,200 level. A close above the $109,200 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level. Any more gains might send the price toward the $112,000 level.

Downside Correction Reaction In BTC?

If Bitcoin fails to rise above the $108,800 resistance zone, it could start another decline. Immediate support is near the $107,800 level. The first major support is near the $107,500 level and the trend line.

The next support is now near the $107,200 zone and the 61.8% Fib retracement level of the upward move from the $106,477 swing low to the $108,792 high. Any more losses might send the price toward the $106,500 support in the near term. The main support sits at $105,500, below which BTC might gain bearish momentum.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $107,500, followed by $107,200.

Major Resistance Levels – $108,800 and $110,000.