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

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Mon, 10/01/2022 - 16:30
BTC, ETH, XRP, BNB, and ADA Price Analysis for January 10
Cover image via www.tradingview.com

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The new week has started with a renewed market correction, with all top 10 coins being in the red zone.

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Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has gone down by almost 2% since yesterday.

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BTC/USD chart by TradingView

The main crypto has fixed below the support green line at $41,967, which means that bears are in control of the situation at the moment. The sellers' power is also confirmed by the increased trading volume.

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If this pressure continues and BTC drops below the vital mark of $40,000, there is a change seeing the price around $35,000 shortly.

Bitcoin is trading at $40,745 at press time.

ETH/USD

Ethereum (ETH) is the biggest laggard from the list, falling by 2.92%.

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ETH/USD chart by TradingView

Despite the drop, Ethereum (ETH) made a false breakout of the support level at $2,897. Until the rate is located above it, bulls have a chance to seize the iniative and try to restore the bullish trend.

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However, if the daily candle fixes below the psychological mark of $3,000, there might be a sharp drop to $2,410 within the next weeks.

Ethereum is trading at $3,008 at press time.

XRP/USD

XRP has also followed the decline of BTC and ETH, losing 2.61% of its price share over the last 24 hours.

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XRP/USD chart by TradingView

That said, sideways trading remains a more likely scenario for the upcoming days as the price is located in the wide range between the support at $0.652 and the resistance at $1.01.Currently, the price is closer to the support, and if the level is broken, the decline may lead XRP to $0.50 soon.

XRP is trading at $0.7278 at press time.

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