Bulls Keep Pushing, LINK Signals Breakout To $10

Key Insights:

  • Bitcoin remained in a bullish zone above $22,000.
  • Ether (ETH) gained steadily and settled above $1,700.
  • LINK is signaling a major bullish breakout on the daily chart.

Bitcoin

After a clear move above the $23,000 level, bitcoin price followed a bullish path. There was a minor downside correction, but the bulls were active and pushed the price above $23,500.

There was a clear move above the $24,000 level and the 21 simple moving average (H1). On the upside, there is a major resistance forming at $24,420, above which bitcoin could rise towards the $25,000 resistance.

BTC Hourly Chart by FXEmpire

If there is a downside correction, the price might find bids near $23,850 and a connecting bullish trend line on the hourly chart. Any more losses might call for a test of $23,450.

Ethereum (ETH)

ETH also followed a similar path after it settled above the $1,600 support. There was a sharp increase above the $1,700 level and the 21 simple moving average (H1).

The price even climbed above the $1,750 level before there was a downside correction. The price is now back above the $1,725 level and facing resistance near $1,750. On the upside, the bears might remain active near the $1,770 and $1,780 levels. The next major resistance sits near the $1,850 level.

ETH Hourly Chart by FXEmpire

If there is a downside correction, the price might find support near $1,700 and a connecting bullish trend line on the hourly chart. Any more losses might call for a test of $1,665.

LINK formed a strong support base above the $5.20 level. There were multiple attempts by the bears to push the price below the $5.20 level, but the bulls protected losses.

As a result, there was a steady increase above the $5.50 and $6.00 resistance levels. There was a clear move above a major bearish trend line with resistance near $7.40 on the daily chart. The price even settled above the $7.00 level and the 21-day simple moving average.

Chainlink (LINK) Daily Chart by FXEmpire

The price is up over 10% in a day and is now facing resistance near the $8.10 level. It seems like the price might continue to rise towards the $8.80 and $9.20 levels. The main resistance sits near the $9.65 and $10.00 levels.

ADA, BNB, and DOT price

Cardano (ADA) remained well bid above the $0.50 support. The price is now rising and approaching the key $0.545 resistance zone.

Binance Coin (BNB) also found support well above the USD 250 level. The price is now back above USD 275 and might revisit the USD 300 resistance.

Polkadot (DOT) is up 10% and trading above the $8.20 level. An immediate resistance is near $8.35, above which it could test $8.50.

A few trending coins are SOL, AVAX, and ETC. Out of these, ETC seems unstoppable and might even test the $50 resistance zone.


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