Key Insights: Bitcoin is moving lower and trading near the $28,750 support.
Ether (ETH) is struggling to stay above $1,920.
TRX eyes more upsides above the $0.0820 resistance.
Bitcoin After a short-term recovery wave, bitcoin price failed to clear the $30,550 resistance zone.BTC formed a top and started a fresh decline below the $30,000 level.
There was a clear move below the $29,800 support area and a connecting bullish trend line on the hourly chart.There was a close below the $29,250 support zone and the 21 simple moving average (H1).
BTC Hourly Chart by FXEmpire Bitcoin is now trading near the $28,750 support zone.A close below the $28,750 and $28,550 support levels could signal bearish continuation.
In the stated case, the price might decline towards the $27,500 and $27,400 support levels.
Ethereum (ETH) ETH also followed a similar pattern after it failed to clear the $2,075 resistance zone.The price started a fresh decline below the $2,000 support level and the 21 simple moving average (H1).
There was a clear move below a key bullish trend line with support near $2,010 on the hourly chart.It is now testing the key $1,920 support.
The next major support sits near the $1,900 level.A downside break below the $1,900 level could stage a strong decline.
ETH Hourly Chart by FXEmpire In the stated case, the price might decline towards the $1,850 level.On the upside, the price could face sellers near the $1,975 and $2,000 levels.
Tron (TRX) TRX formed a strong base above the $0.0600 level and started a steady increase.There was a steady increase above the $0.0800 level.
It tested the $0.0900 zone before there was a bearish reaction.The price traded below $0.0700, but the bulls were active near $0.0600.The price started another increase and climbed above $0.0700.
TRX Daily Chart by FXEmpire There was a move above the 50% Fib retracement level of the downward move from the $0.0925 swing zone to $0.0622 low.There is also a key bullish trend line forming with support near $0.0700 on the hourly chart.
TRX price is now trading above $0.0780 resistance and the 21-day simple moving average.
It is now facing a major resistance near the $0.0830 zone on the daily chart.If there is a clear move and close above $0.08300, TRX could extend its rally.
Story continues ADA, BNB, and DOT price Cardano (ADA) is down over 8% and there was a move below the $0.500 support zone.The next major support is near $0.480, where the bulls might emerge.
Binance Coin (BNB) failed to continue higher above $335 and started a fresh decline.It is back below $320 and might even test $300.
Polkadot (DOT) declined heavily below the $10.20 and $10.00 support levels.If the bears remain active, there is a risk of a move towards the $9.20 level.
A few trending coins are XMR , KCS , and PAXG .Out of these, XMR might start a fresh increase above the $200 level.
This article was originally posted on FX Empire
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