Bitcoin and ETH Could Resume Decline, NEAR Reaches Key Juncture

Key Insights:

• Bitcoin struggled to clear $44,000 and declined.
• Ether (ETH) failed to clear $3,300 and is now showing bearish signs.
• NEAR rallied over 20%, but it might face hurdles near $20.00.

Bitcoin

Recently, bitcoin price started a minor upside correction above the $43,200 level. The price was able to move above the $43,600 level and the 21 simple moving average (H1).

However, it faced a strong resistance near the $44,000 level. There is also a key bearish trend line forming with resistance near $43,800 on the hourly chart. The price is now trading below $43,500 and the 21 simple moving average (H1).

An immediate support is near the $42,750 level. The first key support is near the $42,550 level. If the price fails to stay above $42,550, it could extend decline towards the $41,650 support zone. On the upside, the price must clear $44,000 and the 21 simple moving average (H1) to start a recovery wave.

Ethereum (ETH)

ETH recovered above the $3,240 and $3,250 resistance levels. However, it faced a strong resistance near the $3,295 and $3,300 levels.

There was another decline and the price traded below $3,250 and the 21 simple moving average (H1). It tested a key bullish trend line with support near $3,230 on the hourly chart. If there is a downside break below the trend line and $3,200, the price could resume decline.

An immediate support is near the $3,145 level. The next key support is near the $3,100 level, below which there is a risk of a larger decline.

NEAR Protocol

NEAR remained well supported near the $14.20 level. The price started major increase and there was a clear move above the $15.50 and $17.20 levels.

The price even settled well above the $17.20 level and the 21-day simple moving average. It seems like the bulls are now aiming the main resistance on the upside at $20.00. If they manage to push the price above the $20.00 resistance zone, the price could start a major increase.

The next major resistance could be near the $21.50 level. If not, the price might correct lower below $18.00. On the downside, there is a crucial support forming near the $15.00 level and a bullish trend line on the daily chart.

ADA, BNB, and DOT price

Cardano (ADA) is showing bearish signs below the $1.10 level. If the price breaks the $1.05 support, it could even move below the $1.00 level.

Binance Coin (BNB) failed to clear the $440 level and started a fresh decline. It seems like the price might revisit the $420 support.

Polkadot (DOT) is down 3% and there was a break below the $20.00 level. The next major support is near $19.50, below which the price might test $18.80.

A few trending coins are ZEC, CVX, and ENJ. Out of these, ENJ is gaining pace above the $1.65 resistance level.