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ETH, XRP, BNB and ADA Price Analysis for January 29

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Sat, 29/01/2022 - 16:42
ETH, XRP, BNB and ADA Price Analysis for January 29
Cover image via www.tradingview.com

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The weekends has begun with the ongoing correction of the cryptocurrency market as all of the top 10 coins are in the green zone.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is rising by 7% since over the last 24 hours.

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

After Ethereum (ETH) bounced off the support at $2,300, it keeps trading sideways, accumulating power for the price blast.

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Thus, the growth is supported by the increased trading volume, which means that there is a possibility to see an ongoing rise above $2,600 next week.

Ethereum is trading at $2,540 at press time.

XRP/USD

XRP has gained less than Ethereum (ETH) as the rise has made up 3.39%.

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

Despite the growth, XRP is neither bullish nor bearish as the coin keeps trading sideways.

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Currently, traders are accumulating power for a sharp move, which means one needs to pay close attention to the support level at $0.6959 and the resistance at $0.5614.

XRP is trading at $0.6152 at press time.

BNB/USD

The price of Binance Coin (BNB) has increased by 2.12% since yesterday.

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

Unlike other coins, Binance Coin (BNB) seems to be accumulating enough power for continued growth. At the moment, the price is slowly approaching the resistance at $405.6. If bulls can fix above it, there are chances to see an ongoing rise to $450.

BNB is trading at $390.6 at press time.

ADA/USD

Cardano (ADA) is not an exception to the rule, going up by 4.04%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) is about to come back to the resistance level at $1.155 on the daily chart. Even though the buying trading volume is low, if ADA gets to the area around $1.10 and trades there for a little while, the growth may continue to the zone of the most liquidity around $1.232 soon.

ADA is trading at $1.070 at press time.

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