Bitcoin and ETH Gain Traction, SOL Could Surge To $120

Key Insights:

• Bitcoin might soon attempt an upside break above $43,450.
• Ether must clear $3,065 for a steady increase.
• SOL rallied 10% and might extend gains in the near term.

Bitcoin

After a short-term downside correction, bitcoin price found support near the $42,000 zone. It started a fresh increase above the $42,500 and $42,850 resistance levels.

The price even surpassed the $43,000 level and settled above the 21 simple moving average (H1). It is now a facing resistance near the $43,200 and $43,450 levels. A clear break above $43,450 could set the pace for another upward move.

If not, it could correct lower below $42,750. There is also a key bullish trend line with support near $42,700 on the hourly chart, below which the price might decline to $42,000.

Ethereum (ETH)

ETH also followed a similar pattern from the $2,940 support zone. There was a steady increase above the $3,000 resistance zone. The price even broke the $3,035 level and the 21 simple moving average (H1).

It is now facing hurdle near $3,070 and $3,080. A clear move above the $3,080 level could set the pace for a larger increase. The next key barrier is $3,150, above which the price could rally to $3,240.

On the downside, the $3,000 level is a key support. There is also a connecting bullish trend line with support near $3,000 on the hourly chart.

Solana (SOL)

SOL formed a strong base above the $78 and $80 levels. As a result, it started a steady increase above the $85 and $88 resistance levels.

There was a move above a major bearish trend line with resistance near the $95.00 level on the daily chart. The price even settled above the $95 resistance level and the 21-day simple moving average. It is now trading near the 50% Fib retracement level of the key decline from the $122 swing high to $76 swing low.

The next key resistance is near the $105 level. It coincides with the 61.8% Fib retracement level of the key decline from the $122 swing high to $76 swing low.

A clear move above the $105 could even push the price above $110.00. In the stated case, SOL may perhaps start a steady increase towards the $120.00 level or even $125.00.

ADA, BNB, and DOT price

Cardano (ADA) is up over 10% and broke the $1.15 resistance levels. The next major resistance is near the $1.20 level, where the bears might take a stand.

Binance Coin (BNB) is attempting an upside break above the $410 resistance level. A close above $410 and $412 might push the price above $422.

Polkadot (DOT) is consolidating above the $20.00 and $20.20 levels. An initial barrier is near the $21.00 level, above which the price might rush to $21.80.

A few trending coins are DOGE, MATIC, and NEAR. Out of these, DOGE rallied over 10% and cleared the $0.132 resistance.