Bitcoin and Ether Spike Higher Amid Profit Taking, LUNA Enters Top 10

Bitcoin

After forming a base above $46,000, bitcoin price started a fresh increase. BTC was able to clear the $48,000 resistance. It even settled above the $48,500 level and the 21 simple moving average (H1).

Besides, there was a break above a major bearish trend line with resistance near $48,100 on the hourly chart. On the upside, the price is facing resistance near $49,500, above which bitcoin may perhaps rise towards $50,000.

If there is a fresh decline, the price could test the $48,000 support or the 21 simple moving average (H1).

Ether (ETH)

Ether gained pace for a move above the $3,900 resistance zone. The bulls pushed the price above a key bearish trend line at $3,940 on the hourly chart.

There was even a spike above the $4,000 level. However, the price is now facing resistance near the $4,030 and $4,050 levels. The bulls need to clear the $4,050 level to continue higher. The next key barrier is $4,150, above which the price could revisit the $4,250 resistance.

If not, there could be a fresh decline towards the $3,900 level. The next key support is near $3,750.

Terra (LUNA)

LUNA started a strong surge from the $50 support area. It broke many hurdles near $65 to enter a bullish zone. The price climbed above the 61.8% Fib retracement level of the downward move from the $78.50 swing high to $52.50 low.

The price settled above the $75 level and the 21-day simple moving average. Besides, there was a move above a crucial bearish trend line with resistance near $71.80 on the daily chart.

It is now trading above the $80.00 level and formed a new all-time high. In terms of the market cap, LUNA flipped DOT and AVAX. The next major resistance is near the $85.00 level.

A close above the $85.00 may perhaps send the price towards the $90.00 level or even $100. If there is a downside correction, the price might find bids near the $80.00 level.

ADA, BNB, and DOT price

Cardano (ADA) gained pace for a move above the $1.25 level. It is now facing resistance near $1.265. A clear break above $1.265 level could send the price further higher. The next major resistance is near the $1.32 level.

Binance Coin (BNB) is showing positive signs and trading above the $525 level. An immediate resistance is near the $532 level. However, the main barrier is near $550, above which the price may perhaps rise towards the $585 level.

Polkadot (DOT) is up 5% and there was a move above the $25.00 level. The next key resistance is near the $26.50 level. A close above $26.50 may possibly clear the path for a steady increase. If there is a fresh decline, the price might find bids near the $23.20 level.

A few trending coins are HNT, HOT, RUNE, and ONE. Out of these HNT is up over 22% and it cleared the key $35 resistance zone.