Bitcoin Consolidates and Ethereum Gains Bullish Momentum
April 21, 2021
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Bitcoin price continued to rise above USD 56,000, but it was unable to break through the USD 56,500 resistance and began a downward correction. It is currently trading below USD 55,000 and appears to be headed for USD 53,250. Furthermore, the majority of big altcoins are still trading in the green. ETH continued to rise above USD 2,720, reaching a new all-time high near USD 2,760.
Bitcoin price continued to grow after breaking above USD 55,500 on the upside. BTC even surpassed the USD 56,000 mark. Bears, on the other hand, were active around USD 56,500. There was no further upward movement, and the price fell below USD 55,500. The price has now broken through USD 55,000 and is struggling to remain above USD 54,000.
If the price continues to fall, it can test the USD 53,250 support level. The USD 55,000 and USD 55,500 levels are critical resistance levels for bulls on the upside.
The price of Ethereum remained in a steady upward trend, rising above the USD 2,700 mark. ETH also reached a high of USD 2,750 before falling down. It is currently trading below USD 2,700, but there is significant support near USD 2,650.
On the upside, between the USD 2,740 and USD 2,750 stages, there is immediate resistance. If the price closes above USD 2,760, it may move towards the USD 2,800 mark.
Binance Coin is holding gains above the pivot stage of USD 550. If BNB remains above USD 550, it is likely to begin a strong rise above USD 575 and USD 580 resistance levels. If not, a drop towards the USD 525 support level is possible.
Cardano (ADA) continues to consolidate above the USD 1.30 support level. On the upside, ADA is encountering high resistance around USD 1.35. If the price breaks through USD 1.35, it can move towards USD 1.42 and USD 1.45.
Dogecoin (DOGE) is up nearly 20% and is currently trading above the USD 0.30 mark. DOGE has broken through the USD 0.32 resistance, and the bulls seem to be aiming for a test of the USD 0.35 mark. Any more gains could pave the way for a step towards USD 0.40.
