- Ethereum is back in the bulls’ hands after reclaiming support at $2,100.
- Polkadot renews the bullish outlook after reclaiming the 50 SMA support.
The cryptocurrency market’s price action has been mundane in the last few days. Most of the recoveries witnessed last week stalled, leading to periods of consolidation. At the time of writing, most crypto assets are in the green. Note that Bitcoin has settled above $34,000 as bulls gaze toward $40,000.
Ethereum:-
Ethereum price lifted from support at $1,700 but for some time could not rise above $2,000. Over the weekend session, the smart contract token reclaimed the ground above $2,000. Sustaining the uptrend became a problematic endeavor, especially with the hurdle at $2,100.
In the meantime, Ether has made it above $2,100, thus validating the bullish building uptrend. Its immediate upside is capped at the 100 Simple Moving Average (SMA) on the four-hour chart. It is worth mentioning that Ethereum trades at $2,126 at the time of writing.
If the 100 SMA resistance comes out of the way, Ethereum will extend the price action toward the key hurdle at $2,400, as highlighted by the 50 SMA. The uptrend has been validated by the Moving Average Convergence Divergence (MACD), as seen on the four-hour chart. If the MACD settles above the zero line, bulls will gain more momentum.
ETH/USD four-hour chart
Polkadot:-
Polkadot price seems to be flipping bullish along with other crypto assets. After the recent freefall to $13.5, recovery has been gradual but consistent. Note that with the 50 Simple Moving Average (SMA) working as the immediate support, the least resistance path will be upward in the coming sessions.
Trending Stories
DOT/USD four-hour chart
The MACD and the RSI already validate upswing as observed on the four-hour chart. If the latter crosses into the positive region, Polkadot may renew the uptrend to the next hurdle at $18.5. Closing the day above this level is crucial for sustaining the uptrend above $20. Similarly, the RSI affirms that bulls are in control by closing the gap toward the midline.
- Do Kwon Says Terra Collecting Snapshot Data For LUNA Airdrop
- Top ETH Whales Add These DeFi Tokens Amid Crypto Volatility
- Here’s Why Bitcoin (BTC) Could Be In for Another 50% Correction Under $15,000
- Another Top Exchange To Delist Terra UST Over Collapse
- Just-In: Vitalik Buterin No Longer A Billionaire As Ethereum Crashes
- Bitcoin Price: Key Metrics Show Surprising Insights
- After Terra Crash, Galaxy Digital CEO Warns Against Bottom Buying
- Shiba Inu (SHIB) Prices May Jump Next Week; Here’s Why
- Is Andre Cronje Back On Fantom? FTM Jumps 13%
- PlanB Says Bear Market Almost Over, Bitcoin (BTC) In Buying Range
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
- Ethereum Classic Price Prediction 2022 : Here’s What to Expect from ETC Price ?
- SAND Price Analysis: SAND Buyers Await Trendline Breakout To Go Long
- Avalanche Price Analysis: AVAX Sellers Tease $30 Fallout; Sell or Hold?
- Bitcoin Price Analysis: BTC Price Strikes $30000; Breakout Or Fakeout?
- TRX Price Analysis – Another Bullish Attempt For $0.075 Breakout
- KuCoin Price Analysis: Low Volume Rally Hints Pullback Opportunity in KCS