Bitcoin and ETH Price Prediction: Short-term Rally, UNI Bulls Eye $6.5

Key Insights:

• Bitcoin is slowly moving higher towards the $22,000 resistance.

• Ether (ETH) gained over 5% and surpassed $1,160.

• UNI is up over 15% and might even rise towards $6.50.

Bitcoin

After forming a base above the $19,000 level, bitcoin price started an upside correction. There was a slow increase above the $20,000 and $20,400 resistance levels.

The price even cleared the $21,000 level and the 21 simple moving average (H1). The current price action is positive above the $21,350 level. On the upside, the price could face resistance near the $22,000 level. Any more gains might send bitcoin to $22,800.

BTC Hourly Chart by FXEmpire

On the downside, there is a major support at $21,000. A daily close below $21,000 could start a major decline.

Ethereum (ETH)

ETH also started a decent recovery wave above the $1,000 resistance level. The price cleared the $1,070 resistance and the 21 simple moving average (H1) to move into a short-term positive zone.

Ether price is now trading above the $1,165 resistance zone. On the upside, there are many hurdles forming near $1,200 and $1,220. A close above the $1,220 level could set the pace for a larger increase.

ETH Hourly Chart by FXEmpire

On the downside, there is a key support near the $1,165 level, below which the price could restart decline and test $1,070.

Uniswap (UNI)

UNI started a strong decline after it topped near the $10.00 level. The bears pushed the price below the $8.50 and $5.00 support levels.

It even moved below the $4.20 level and the 21-day simple moving average. Finally, there was a spike below the $3.50 level and the price tested the $3.35 zone. Recently, the price started a recovery wave above the $4.00 resistance.

UNI Daily Chart by FXEmpire

It gained over 15% and was able to clear the 50% Fib retracement level of the downward move from the $6.00 resistance zone to $3.35 low. UNI also cleared a major bearish trend line at $4.20 on the daily chart.

The next major resistance is near the $5.00 level. A close above the $5.00 level could start a major increase towards the $6.50 resistance zone in the near term. If there is no upside break, the price could restart decline and test the $4.00 level.

ADA, BNB, and DOT price

Cardano (ADA) cleared the $0.500 resistance zone. The next major resistance is near $0.520, above which it could rise towards $0.532.

BNB is gaining pace towards the $230 and $235 resistance levels. A clear move above $235 might call for a test of the $250 resistance.

Polkadot (DOT) broke the $8.0 resistance level. If the bulls remain in action, the price could rise towards the $8.80 resistance zone.

A few trending coins are DOGE, MATIC, and SHIB. Out of these, DOGE is attempting an upside break above the $0.070 resistance.

This article was originally posted on FX Empire

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