At present, the bulls are making an attempt of keeping Ether (ETH) away from the descending channel. As per data from TradingView, the bulls are trying to push ETH’s price higher increasing their purchasing power. Currently, the bullish trendline shows that the bulls are attempting to push ETH’s price over the $4,055 per ETH, which is the 20-day EMA for Ether.
If the bulls succeed in pushing ETH’s price over the $4,055 per ETH price, it may trigger a new high-trend for ETH. According to analysts, if ETH manages to cross the 20-day EMA, it may confirm that ETH has passed the correction phase.
This would suggest that the bears may not be in control over Ether anymore. This would give an opening to the bulls as they will be able to push ETH’s price even higher.
If the bulls manage to push its price over the 20-day EMA, they may attempt to propel its price over the $4,488 per ETH price. Further to that, the bulls may attempt to push its price all the way up to the all-time high of $4,868 for ETH.
It is the all-time high benchmark where the investors may demonstrate tremendous resistance by increasing their selling power. However, if the bulls manage to sustain the pressure from bears, they may be able to push ETH’s price over the $5,859 figure.
On the other hand, the bears may attempt pulling ETH’s price below the $3,643.73 figure. If they manage to do it, the bears may attempt in pulling the price close to the $3,302 per ETH price, which is its 200-day SMA.
At present, Binance Coin (BNB) has been holding its ground over the $500 per BNB figure. It is currently considered the psychological support for BNB and BNB has been hovering above the figure for the past few days. This means that the buyers have increased their buying power and they are countering the bears in order to keep its price over the $500 per BNB figure.
However, it is being expected that the bears may launch their selling spree again. The bears may show a lot of aggression in terms of pushing BNB’s price below the $500 mark. If the bears manage to do it, then the overall sentiments surrounding BNB turn negative. This may result in pulling BNB’s price below the $437 per BNB mark, which is the 200-day SMA for BNB.
On the other hand, the bulls may try their best to push BNB’s price over the $580 price. If they manage to do it, they may be able to clear the correction phase, resulting in another major rally. This could push the price of BNB over the $617 per BNB price. After that, BNB may go for another strong rally and push its price over the $669.30 per BNB figure.