BTC, ETH and XRP Price Analysis for January 20
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The market has begun a new correction wave that has affected all of the top 10 coins; all of them are in the red zone.
The key information for Bitcoin (BTC), Ethereum (ETH) and XRP today:
|
Name |
Ticker Advertisement
|
Market Cap |
Price |
Volume (24h) |
Change (24h) |
|
Bitcoin |
BTC |
$643,455,243,203 | $34,512.02 | $62,834,526,756 | -7.34% |
|
Ethereum |
ETH |
$146,302,370,328 | $1,281.25 | $46,130,149,496 | -9.71% |
|
XRP |
XRP |
$13,075,697,841 | $0.2882 | $4,726,578,884 | -4.49% |
BTC/USD
The hourly EMA55 served as a support level yesterday morning for buyers as they tried to break through the orange resistance of $37,300. The daily maximum was set around $37.875, but the recovery failed.
Over the past night, the pair rolled back slightly below the level of average prices and tried to hold in the area of $36,000. But bears have already managed to push through this support level, and today the decline will continue to the area of $33,000, where the point of control (POC) indicator line passes.
Denys SerhiichukOne believes that the decline may slow down in this zone.
Bitcoin is trading at $35,098 at press time.
ETH/USD
Yesterday morning, a slight decline in the pair stalled around the $1,300 mark, after which the bulls were able to continue the run and renewed their January high to $1,440. By evening, the volume of purchases decreased, so the price of Ethereum (ETH) rolled back to the zone of the recent monthly maximum, set at $1,353 on Jan. 10.
Today the pullback may continue to the area of the hourly moving average EMA55. If sellers push through the middle level, then Ethereum (ETH) may fall to the support at $1,200.
Ethereum is trading at $1,301 at press time.
XRP/USD
Yesterday morning, trading on XRP started with very small volumes, but then buyers managed to form a bullish momentum, piercing the upper border of the sideways range ($0.310) and setting a daily high at $0.330.
During the day, the pair went sideways, and today the retest of the lower boundary of the sideways channel ($0.260) is possible. It should be noted that, due to some extinction of investor interest in XRP, trading is very sluggish. The asset has long shifted from third place in terms of capitalization on CoinMarketCap to fifth place, allowing Polkadot (DOT) to surge ahead.
XRP is trading at $0.2894 at press time.
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