BTC, ETH and XRP Price Analysis for January 26


Bulls are trying to keep the short-term growth going as most of the coins have come back to the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Buyers took advantage of the support at $36,000 yesterday and tried to gain a foothold above the two-hour EMA55.

Track live crypto price of 10000+ coins!


Great difficulties were caused by the resistance of the 38.2% fibo ($37,150). At the end of the day, this level held back the rise in the price of BTC.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Today, the bulls can try to break through the defense of the bears and test the level of $38,600. The most optimistic recovery option involves a retest of the psychological mark of $40,000.

Bitcoin is trading at $37,818 at press time.

ETH/USD

Yesterday, buyers were able to continue the recovery of the Ethereum (ETH) price to the two-hour EMA55 area. The daily high was fixed at $2,511. However, the decrease in volumes at the end of the day did not allow the pair to consolidate above the level of average prices.

Related:  Galaxy Capital's Mike Novogratz Warns that Finding Crypto Bottoms is Dangerous, Altcoins Could Dump by Another 70%
ETH/USD chart by TradingView
ETH/USD chart by TradingView

If bulls can hold the rate above the EMA, there are chances to see ETH’s test of the $2,800 level shortly.

Such a scenario is relevant until the end of the week. In another case, the return to $2,400 might be a short signal with a potential target of $2,200.

Ethereum is trading at $2,639 at press time.

XRP/USD

Yesterday, there was no strong pressure from the bears, and at the end of the day, the price of XRP was able to test the two-hour EMA55.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

By this morning, the pair has not yet been able to overcome this moving average. If during the day, buyers manage to break through to the $0.65 area, then by the end of the day, the XRP/USD pair will be able to gain a foothold above the average price level.

XRP is trading at $0.6363 at press time.


Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link