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Bitcoin and ETH Price Prediction: Bears Target Lows, Why Doge Is At Risk

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·3 min read
In this article:
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Key Insights:

  • Bitcoin is showing bearish signs below the $20,000 and $19,300 levels.

  • Ether (ETH) might accelerate lower below $1,000.

  • DOGE might start a major decline if there is a close below $0.060.

Bitcoin

After a minor upward move, bitcoin price faced sellers near the $20,500 zone. The price failed to continue higher and started a fresh decline below the $20,000 support.

The bears pushed the price below the $19,300 level and the 21 simple moving average (H1). BTC declined below the $19,000 zone to enter a bearish zone. There is also a key bearish trend line forming with resistance near $19,600 on the hourly chart.

BTC Hourly Chart by FXEmpire
BTC Hourly Chart by FXEmpire

On the downside, there is a crucial support near $18,500. A close below the $18,500 zone could start a major drop. Conversely, the price could start a decent recovery wave above the $19,300 level and the 21 simple moving average (H1).

Ethereum (ETH)

ETH also followed a similar pattern after it failed to clear the $1,120 resistance zone. There was a fresh decline below the $1,085 level and the 21 simple moving average (H1).

There was a move below the $1,035 level and the bears are now attempting a move below the $1,000 support zone. The next major support is near $945, below which there is a risk of a move towards the $880 low or even $850.

ETH Hourly Chart by FXEmpire
ETH Hourly Chart by FXEmpire

Conversely, the price could rise again and revisit the $1,085 resistance zone. The next major resistance is near the $1,160 level.

Dogecoin (DOGE)

DOGE started a recovery wave from the $0.0500 support zone. There was a move above the $0.0600 level and the 21-day simple moving average.

The bulls pushed the price above the 50% Fib retracement level of the downward move from the $0.098 swing high to $0.050 low. However, the price faced a strong resistance near the $0.0750 zone.

DOGE also failed near a crucial bearish trend line with current resistance at $0.0750. Besides, the price was rejected near the 61.8% Fib retracement level of the downward move from the $0.098 swing high to $0.050 low.

The price is now moving lower and trading near the $0.063 support zone. If there is a close below $0.060 and the 21-day simple moving average, the price could nosedive.

ADA, BNB, and DOT price

Cardano (ADA) is down over 6% and trading below the $0.45 level. The next major support is seen near the $0.42 level.

Binance Coin (BNB) is accelerating lower towards the $205 level. The key breakdown support is still near the $200 level.

Polkadot (DOT) traded below the $7.0 support. The next major support is near $6.50, below which the price might dive towards $6.05.

A few trending coins are LEO, OKB, and ZRX. Out of these, ZRX is still holding gains above the $0.32 support zone.

This article was originally posted on FX Empire

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