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Bitcoin and ETH Near Major Crossroads, Why LEO Could Surge

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·3 min read
In this article:
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Key Insights:

  • Bitcoin cleared the $30,000 resistance and started a consolidation phase.

  • Ether (ETH) is facing resistance near $1,915.

  • LEO bulls seem to be eyeing an upside break above $5.25.

Bitcoin

Recently, bitcoin price started a decent increase above the key $28,550 level. The price was able to surpass the $29,400 resistance level and the 21 simple moving average (H1).

There was also a move above a connecting bearish trend line with resistance near $29,100 on the hourly chart. It opened the doors for a steady increase and the price climbed above the $30,000 resistance zone.

BTC Hourly Chart by FXEmpire
BTC Hourly Chart by FXEmpire

On the upside, bitcoin is now facing a major resistance near the $30,800 zone. A clear move above the $30,800 zone could start another steady increase, may be towards $31,500. If the bulls fail, the price could decline and revisit the $29,400 support.

Ethereum (ETH)

ETH also started a fresh increase from the $1,720 zone. The bulls were able to push the price above the $1,825 resistance zone and the 21 simple moving average (H1).

It even cleared the $1,880 level, but the bears seem to be active near $1,915. A close above the $1,915 is needed to start a decent increase. In the stated case, ether price could rise and test the $2,000 resistance zone.

ETH Hourly Chart by FXEmpire
ETH Hourly Chart by FXEmpire

If not, there is a risk of a move towards the $1,825 support and a major bullish trend line on the hourly chart.

UNUS SED LEO (LEO)

LEO started a strong decline after it topped near the $8.00 level. The bears pushed the price below the $6.50 and $6.00 support levels.

It even moved below the $5.00 level and the 21-day simple moving average. Finally, the price found support near the $4.80 zone. Recently, LEO price started a fresh increase above the $5.00 level.

LEO Daily Chart by FXEmpire
LEO Daily Chart by FXEmpire

The price is now trading above the 21-day simple moving average, but there is a major hurdle waiting near $5.25. There is also a key bearish trend line at $5.26 on the daily chart. A clear move above the $5.25 resistance could initiate a strong rally.

The next major resistance is near the $6.20 level. If there is no upside break, the price could restart decline and test the $4.20 level.

ADA, BNB, and DOT price

Cardano (ADA) gained over 10% and was able to surpass the $0.52 resistance. It seems like the bulls might aim a break above the $0.55 resistance.

BNB is consolidating near the $312 and $315 levels. On the upside, the bears might remain active near the $320 level.

Polkadot (DOT) is up 5% and trading above the $10.00 level. An immediate resistance is $10.50, above which it could rise to $10.80.

A few trending coins are EGLD, AAVE, and THETA. Out of these, THETA is up 10% and trading above the $1.25 resistance zone.

This article was originally posted on FX Empire

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