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BTC, XRP, and BNB Price Analysis for January 18

Tue, 01/18/2022 - 18:02
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Denys Serhiichuk
Do bulls have enough power for staging a comeback?
BTC, XRP, and BNB Price Analysis for January 18
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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Bears are not going up, with the top 10 largest coins remaining in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, sellers pushed the price of Bitcoin below the two-hour EMA55, and they broke through the support at $42,447 in the evening. At the end of the day, an intraday low of $41,580 was reached.

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

The pair tried to recover overnight, but the 50% Fibonacci level limited the weak growth. Today, the decline may continue to the support of $40,000.

Bitcoin is trading at $41,684 at press time.

XRP/USD

Yesterday, the price of XRP rolled back below the EMA55 moving average, and the pair was no longer able to recover above this level during the day. It is down 2.73% today.

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

Today, during the day, a decline to the support at $0.70 is possible.

Related
BTC, DOGE and SHIB Price Analysis for January 15

However, if the price can stage a breakout above the zone of the most liquidity around $0.77 and fix above it by the end of the day, there is a chance of seeing short-term growth.

XRP is trading at $0.7447 at press time.

BNB/USD

Binance Coin (BNB) is not an exception as the price of the native exchange coin has declined by 2.69% over the last 24 hours.

​BNB/USD chart by TradingView
BNB/USD chart by TradingView

The price of BNB could not hold above the local level at $489. At the moment, bears are more powerful than bulls, which is evident based on rising selling volume. If buyers cannot get back to the previous price level, one may expect a drop to the area around $450 within the nearest days.

BNB is trading at $463.6 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.