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Crypto Market Today: Bitcoin and Ether Show Positive Signs, SOL Eyes New ATH

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·3 min read
In this article:
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Bitcoin

After testing the $56,000 zone, bitcoin price started a fresh upward move. It climbed above the $56,800 and $57,000 levels. However, the bulls are struggling to clear the $57,300 resistance. The main hurdle is still near $58,000. A daily close above $58,000 could start a fresh increase.

If there is another failure, the price could drop below the $56,000 support. The main breakdown support is near $55,500, below which the price could dive towards $52,000.

Ether (ETH)

Ether is trading in a positive zone above the key $4,480 support zone. Recently, there was a break above a key bearish trend line with resistance near $4,585 level on the hourly chart. The next key barrier is $4,650, above which the price could revisit the main $4,770 resistance.

If not, there could be a downside correction towards the $4,540 level. The next key support is near $4,480.

Solana (SOL)

SOL started a fresh increase after it formed a base above the $185 level. There was a major move above the $210 and $220 resistance levels. The bulls even pushed the price above a major bearish trend line with resistance near $220 on the daily chart.

SOL climbed above 50% Fib retracement level of the downward move from the $260 swing high to $180 low. The price settled above the $200 level and the 21 simple moving average.

SOL is now facing resistance near the $240 level. It coincides with the 76.4% Fib retracement level of the downward move from the $260 swing high to $180 low. A close above the $240 and $242 levels may perhaps send the price towards the $260 high or even a new all-time high. If there is a downside correction, the price might find bids near the $225 level.

ADA, BNB, and DOT price

Cardano (ADA) gained pace above the $1.62 and $1.65 levels. It is now facing resistance near the $1.68 level. The next major resistance is $1.70, above which it could rise towards $1.75. If there is a downside correction, the price might find support near the $1.52 level.

Binance Coin (BNB) is consolidating near the $620 level. If BNB stays above $620, it could rise towards the $632 level. A clear break above $632 could send the price towards the $650 level. Conversely, there is a risk of a move towards the $600 level.

Polkadot (DOT) is trading in a positive zone above the $35.00 level. An immediate resistance is near the $36.50 level. The main resistance is now near $38.00, above which the price could rise towards the $40 level. On the downside, the $33.20 level is a decent support.

A few trending coins are LUNA, MATIC, and XLM. Out of these MATIC is up over 18% and it cleared the key $2.30 resistance zone.

This article was originally posted on FX Empire

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