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BTC, ETH and XRP Price Analysis for January 26

Price Analysis
Wed, 01/26/2022 - 14:46
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Denys Serhiichuk
How long is the bounceback of the coins going to last?
BTC, ETH and XRP Price Analysis for January 26
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 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.

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BTC, ETH, XRP, BNB, ADA, and SOL Price Analysis for January 24

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.

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.

Related
BTC, DOGE and SHIB Price Analysis for January 23

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.

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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.