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BTC, ETH and XRP Price Analysis for January 12

Price Predictions
Wed, 01/12/2022 - 15:49
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Denys Serhiichuk
Have the main coins accumulated enough power for continued mid-term growth?
BTC, ETH and XRP Price Analysis for January 12
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls might have seized the initiative as all coins from the top 10 list have come back to the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, on the second try, buyers were able to overcome the resistance of the two-hour EMA55 and gain a foothold above $42,447.

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

Today, one should watch the further movement of the pair. If the bulls can continue the recovery toward $45,000, then a retest of the resistance at $46,000 can be expected this week.

Related
BTC, ETH, XRP, BNB, and ADA Price Analysis for January 10

If the bears break through the level of average prices and do not allow the pair to gain a foothold above the $42.447 level for a long time, then the market decline will not be over yet and the decline can continue below the psychological mark of $40,000.

Bitcoin is trading at $43,912 at press time.

ETH/USD

Yesterday afternoon, the Ethereum (ETH) price broke through the resistance of the EMA55 moving average and, by this morning, it has consolidated in a narrow consolidation around the $3,335 mark.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

If, today, the bulls continue to rise above the resistance of $3,400, then one can consider the possibility of further growth in the area of $3,800.

Related
BTC, XRP, AVAX and DOT Price Analysis for January 9

If the pair is unable to overcome the resistance level, then it is too early to talk about a reversal.

Ethereum is trading at $3,372 at press time.

XRP/USD

The XRP price rebounded above the two-hour EMA55 yesterday. At the end of the day, the pair consolidated above the level of average prices and tonight continued weak growth to the level of $0.77.

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

If, today, the volume of purchases increases and the growth continues above the resistance of $0.80, then one can count on a recovery to the POC line ($0.829).

XRP is trading at $0.7979 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.