Bitcoin price started a decent increase above $66,000. BTC is now consolidating above $66,000 and might aim for more gains above $67,200.

• Bitcoin started a fresh increase after it settled above the $65,500 support.
• The price is trading below $67,000 and the 100 hourly simple moving average.
• There is a bearish trend line forming with resistance at $67,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might dip again if it trades below the $65,500 and $65,000 levels.

Bitcoin Price Faces Key Resistance

Bitcoin price managed to form a base above the $63,500 zone. BTC started a fresh increase and was able to surpass the $64,500 resistance zone.

The price even rallied above the $67,000 resistance. Finally, the bears appeared near $68,000. A high was formed at $68,180, and the price recently corrected some gains. There was a move below the 50% Fib retracement level of the upward move from the $63,030 swing low to the $68,181 high.

Bitcoin is now trading below $67,000 and the 100 hourly simple moving average. If the price remains stable above $65,000, it could attempt a fresh increase. Immediate resistance is near the $67,000 level. There is also a bearish trend line forming with resistance at $67,000 on the hourly chart of the BTC/USD pair.

The first key resistance is near the $68,200 level. A close above the $68,200 resistance might send the price further higher. In the stated case, the price could rise and test the $69,500 resistance. Any more gains might send the price toward the $70,000 level. The next barrier for the bulls could be $70,500 and $71,200.

Downside Continuation In BTC?

If Bitcoin fails to rise above the $67,000 resistance zone, it could start another decline. Immediate support is near the $65,500 level. The first major support is near the $65,000 level or the 61.8% Fib retracement level of the upward move from the $63,030 swing low to the $68,181 high.

The next support is now near the $64,250 zone. Any more losses might send the price toward the $64,000 support in the near term. The main support now sits at $63,000, below which BTC might struggle to recover 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 – $65,500, followed by $65,000.

Major Resistance Levels – $67,000 and $68,200.

Source link

Dogecoin started a recovery wave above the $0.0950 zone against the US Dollar. DOGE is now facing hurdles near $0.10 and might struggle to continue higher.

• DOGE price started a recovery wave from $0.090 and climbed above $0.0950.
• The price is trading below the $0.0960 level and the 100-hourly simple moving average.
• There is a key declining channel forming with support at $0.090 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could continue to move up if it stays above $0.090.

Dogecoin Price Hits Resistance

Dogecoin price started a recovery wave from the $0.080 zone, like Bitcoin and Ethereum. DOGE climbed above the $0.0850 and $0.090 resistance levels.

There was a decent upward move above the 50% Fib retracement level of the downward move from the $0.1100 swing high to the $0.0800 low. However, the bears remained active near the $0.100 zone. Besides, there is a key declining channel forming with support at $0.090 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading below the $0.0960 level and the 100-hourly simple moving average. If there is another recovery wave, immediate resistance on the upside is near the $0.0985 level or the 61.8% Fib retracement level of the downward move from the $0.1100 swing high to the $0.0800 low.

The first major resistance for the bulls could be near the $0.10 level. The next major resistance is near the $0.1020 level. A close above the $0.1020 resistance might send the price toward the $0.1085 resistance. Any more gains might send the price toward the $0.1120 level. The next major stop for the bulls might be $0.1150.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.10 level, it could continue to move down. Initial support on the downside is near the $0.09240 level. The next major support is near the $0.090 level.

The main support sits at $0.0850. If there is a downside break below the $0.0850 support, the price could decline further. In the stated case, the price might slide toward the $0.0820 level or even $0.0800 in the near term.

Technical Indicators

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

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

Major Support Levels – $0.0924 and $0.0900.

Major Resistance Levels – $0.0985 and $0.1020.

Source link

Ethereum price started a fresh decline from the $3,300 resistance. ETH is now consolidating losses and is at risk of more losses below $3,150.

• Ethereum started a sharp downside correction below $3,250.
• The price is trading below $3,220 and the 100-hourly Simple Moving Average.
• There is a short-term declining channel forming with resistance at $3,210 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it stays above the $3,160 zone.

Ethereum Price Struggles Below Resistance

Ethereum price failed to remain stable above $3,280 and started a fresh decline, like Bitcoin. ETH price declined below $3,250 and $3,220 to enter a bearish zone.

The bears even pushed the price below the 61.8% Fib retracement level of the recent wave from the $3,060 swing low to the $3,402 high. The price finally tested $3,160 and is currently consolidating losses. There is also a short-term declining channel forming with resistance at $3,210 on the hourly chart of ETH/USD.

Ethereum price is now trading below $3,220 and the 100-hourly Simple Moving Average. If the bulls can protect more losses below $3,160, the price could attempt another increase.

Immediate resistance is seen near the $3,220 level. The first key resistance is near the $3,260 level. The next major resistance is near the $3,280 level. A clear move above the $3,280 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,400 resistance zone or even $3,450 in the near term.

Downside Continuation In ETH?

If Ethereum fails to clear the $3,220 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 $3,140 zone or the 76.4% Fib retracement level of the recent wave from the $3,060 swing low to the $3,402 high.

A clear move below the $3,140 support might push the price toward the $3,080 support. Any more losses might send the price toward the $3,050 region. The main support could be $3,000.

Technical Indicators

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

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

Major Support Level – $3,160

Major Resistance Level – $3,220

Source link