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Bitcoin Price Targets Key Breakout: Bulls Eye Upside Momentum

Bitcoin price started a decent increase above the $96,000 level. BTC might continue to rise if it clears the $100,00 resistance zone. Bitcoin started a decent upward move above the $96,000 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $98,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $96,000 support zone. Bitcoin Price Could Regain Momentum Bitcoin price started a decent upward move above the $95,000 resistance zone. BTC was able to climb above the $96,500 and $97,000 resistance levels. The pair cleared the $98,000 resistance level and traded close to the $100,000 resistance level. A high was formed at $99,400 and the price is now consolidating gains. There was a test of the 23.6% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. Bitcoin price is now trading above $96,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $99,200 level. The first key resistance is near the $99,500 level or the recent high. A clear move above the $99,500 resistance might send the price higher. The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $102,200 resistance level. Any more gains might send the price toward the $103,500 level. Another Decline In BTC? If Bitcoin fails to rise above the $100,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $98,200 level and the trend line. The first major support is near the $96,000 level or the 50% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,200 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $97,000, followed by $96,000. Major Resistance Levels – $99,000 and $100,000. Bitcoin.com

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Ethereum Price Gears Up: Will Bulls Trigger a New Rally?

Ethereum price started a decent increase above the $3,350 resistance. ETH is now recovering some losses and might gain pace if it clears the $3,550 resistance. Ethereum started a fresh increase above the $3,400 zone. The price is trading above $3,450 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,455 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if it clears the $3,525 and $3,550 resistance levels. Ethereum Price Aims Higher Ethereum price started a decent increase above the $3,320 level like Bitcoin . ETH was able to climb above the $3,400 and $3,420 resistance levels. The price even cleared the $3,500 resistance level. However, the bears remained active below the $3,550 level. A high was formed at $3,535 and the price is now consolidating gains. It declined and traded below the 23.6% Fib retracement level of the upward move from the $3,225 swing low to the $3,534 high. Ethereum price is now trading above $3,450 and the 100-hourly Simple Moving Average . There is also a connecting bullish trend line forming with support at $3,455 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $3,500 level. The first major resistance is near the $3,525 level. The main resistance is now forming near $3,550. A clear move above the $3,550 resistance might send the price toward the $3,620 resistance. An upside break above the $3,620 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,680 resistance zone or even $3,750. Another Decline In ETH? If Ethereum fails to clear the $3,550 resistance, it could continue to move down. Initial support on the downside is near the $3,455 level and the trend line. The first major support sits near the $3,375 zone or the 50% Fib retracement level of the upward move from the $3,225 swing low to the $3,534 high. A clear move below the $3,375 support might push the price toward the $3,250 support. Any more losses might send the price toward the $3,220 support level in the near term. The next key support sits at $3,110. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,425 Major Resistance Level – $3,550 Bitcoin.com