Bitcoin price started a fresh increase above $92,500. BTC is trading above $95,000 and attempting a close for another increase to $100k.

• Bitcoin started a decent increase above $92,000 and $94,500.
• The price is trading above $95,000 and the 100 hourly Simple moving average.
• There was a break above a contracting triangle with resistance at $92,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move up if it stays above the $94,000 zone.

Bitcoin Price Gains Over 4%

Bitcoin price managed to stay above the $90,500 support and started a fresh increase. BTC was able to settle above $92,000 and $92,500.

There was a break above a contracting triangle with resistance at $92,000 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above $93,500. Finally, the price spiked above $96,000. A high was formed at $96,476, and the price is now consolidating gains above the 23.6% Fib retracement level of the recent wave from the $89,995 swing low to the $96,476 high.

Bitcoin is now trading above $95,000 and the 100 hourly Simple moving average. If the price remains stable above $94,500, it could attempt a fresh increase. Immediate resistance is near the $96,000 level. The first key resistance is near the $96,500 level.

The next resistance could be $96,800. A close above the $96,800 resistance might send the price further higher. In the stated case, the price could rise and test the $98,000 resistance. Any more gains might send the price toward the $98,500 level. The next barrier for the bulls could be $99,000 and $100,000.

Another Drop In BTC?

If Bitcoin fails to rise above the $96,000 resistance zone, it could start another decline. Immediate support is near the $95,000 level. The first major support is near the $94,500 level.

The next support is now near the $93,200 zone or the 50% Fib retracement level of the recent wave from the $89,995 swing low to the $96,476 high. Any more losses might send the price toward the $92,500 support in the near term. The main support sits at $91,500, 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 above the 50 level.

Major Support Levels – $95,000, followed by $94,500.

Major Resistance Levels – $96,000 and $96,800.

Ethereum price started a major increase above the $3,160 resistance. ETH is now consolidating gains and might dip toward the $3,250 zone.

• Ethereum started a downside correction after a major rally to $3,375.
• The price is trading above $3,300 and the 100-hourly Simple Moving Average.
• There was a break above a major bearish trend line with resistance at $3,140 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to move up if it stays above the $3,250 zone.

Ethereum Price Revisits $3,350

Ethereum price remained stable above $31,20 and started a fresh increase, like Bitcoin. ETH price rallied above the $3,160 and $3,200 resistance levels.

There was a break above a major bearish trend line with resistance at $3,140 on the hourly chart of ETH/USD. The bulls even pumped the price above $3,300. A high was formed at $3,374, and the price is now correcting some gains.

Ethereum price is now trading above $3,300 and the 100-hourly Simple Moving Average. If the bulls can protect more losses below $3,300 or the 23.6% Fib retracement level of the recent wave from the $3,061 swing low to the $3,374 high, the price could attempt another increase.

Immediate resistance is seen near the $3,340 level. The first key resistance is near the $3,380 level. The next major resistance is near the $3,420 level. A clear move above the $3,420 resistance might send the price toward the $3,500 resistance. An upside break above the $3,500 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,550 resistance zone or even $3,650 in the near term.

Downside Correction In ETH?

If Ethereum fails to clear the $3,340 resistance, it could start a fresh decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.

A clear move below the $3,250 support might push the price toward the $3,220 support and the 50% Fib retracement level of the recent wave from the $3,061 swing low to the $3,374 high. Any more losses might send the price toward the $3,180 region.

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 – $3,250

Major Resistance Level – $3,340

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Ethereum price dipped sharply after it rallied toward $3,940. ETH is now consolidating near $3,850 and is eyeing more upsides in the near term.

• Ethereum started a consolidation after it rallied toward the $3,940 resistance zone.
• The price is trading above $3,720 and the 100-hourly Simple Moving Average.
• There is a key bullish trend line forming with support at $3,720 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to move up unless there is a break below the $3,620 support.

Ethereum Price Eyes More Gains

Ethereum price extended its increase above the $3,700 and $3,750 resistance levels. ETH outperformed Bitcoin and even climbed above the $3,880 level. A new weekly high was formed at $3,943 before there was a sharp decline.

The price dived below the $3,800 and $3,750 levels. A low was formed at $3,530 level and the price recovered most losses. It is back above the 50% Fib retracement level of the downward move from the $3,943 swing high to the $3,530 low.

Ethereum is now trading above $3,720 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,720 on the hourly chart of ETH/USD.

Immediate resistance is near the $3,845 level or the 76.4% Fib retracement level of the downward move from the $3,943 swing high to the $3,530 low. The first major resistance is near the $3,880 level. An upside break above the $3,880 resistance might send the price higher.

The next key resistance sits at $3,940, above which the price might gain traction and rise toward the $4,000 level. If there is a clear move above the $4,000 level, the price might rise and test the $4,080 resistance. Any more gains could send Ether toward the $4,200 resistance zone.

Another Decline In ETH?

If Ethereum fails to clear the $3,840 resistance, it could start another downside correction. Initial support on the downside is near the $3,720 level and the trend line.

The next major support is near the $3,620 zone. A clear move below the $3,620 support might push the price toward $3,550. Any more losses might send the price toward the $3,390 level in the near term.

Technical Indicators

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

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

Major Support Level – $3,720

Major Resistance Level – $3,880