Bitcoin and ETH Struggle To Hold Gains, ApeCoin Could Resume Surge

Key Insights:

  • Bitcoin is slowly trimming gains from the $40,750 resistance.
  • Ether (ETH) might test the key $2,915 support.
  • APE is showing bullish signs and might resume uptrend above $18.00.

Bitcoin

After a strong move above $40,000, bitcoin price faced sellers. The bears remained active near the $40,750 level. The price reacted to the downside and traded below $40,400.

There was a move below the $40,000 support and the 21 simple moving average (H1). Bitcoin even traded below the 23.6% Fib retracement level of the recent wave from the $38,250 zone to $40,750 high.

It seems like the price might extend decline and test $39,500. It is near the 50% Fib retracement level of the recent wave from the $38,250 zone to $40,750 high. On the upside, $40,500 and $40,750 are important breakout levels.

Ethereum (ETH)

ETH also attempted an upside continuation above $3,000. However, the price struggled to clear the key $3,035 resistance zone.

It is moving lower below the $3,000 level and the 21 simple moving average (H1). There was a move below the 38.2% Fib retracement level of the recent wave from the $2,800 support to $3,035 high.

On the downside, there is a major support forming near the $2,915 level. It is near the 50% Fib retracement level of the recent wave from the $2,800 support to $3,035 high. Any more losses might send the price towards the $2,840 level.

ApeCoin (APE)

APE started a major increase after it broke the $12.50 resistance zone and the 21-day simple moving average. Besides, there was a break above a key bearish trend line with resistance near $13.00 on the daily chart.

The price even climbed above $18.00, but it struggled to test the $20.00 resistance. It is correcting gains and trading below the $18.00 level.

However, the bulls are protecting the $17.50 support zone. If they remain active, the price could start a fresh surge above $18.00. The next key resistance on the upside may perhaps be near $19.50 or $20.00.

If there is a downside break below the $17.50 support, the price might correct sharply. In the stated case, APE might slide and test the $15.00 support zone in the near term.

ADA, BNB, and DOT price

Cardano (ADA) struggled to gain pace above the $0.885 resistance zone. It is correcting gains and trading below the $0.860 level.

Binance Coin (BNB) failed to stay above the main $400 support zone. It is now moving lower towards the $388 support. The next major support is near $385.

Polkadot (DOT) faced selling interest above the $17.50 level. It is sliding and seems like the bears might aim a test of the $17.00 support zone.

A few trending coins are DOGE, LUNA, and AAVE. Out of these, DOGE is showing a lot of positive signs above the $0.150 level.

This news is republished from another source. You can check the original article here

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