27 Jan 2022 · 2 min read

Bitcoin and Ethereum Inch Higher Above Key Supports, THETA Rallies

 

  • Bitcoin price inches towards USD 37,000.
  • Ethereum recovered above USD 2,400, XRP is consolidating near USD 0.60.
  • THETA rallied 11%, while TFUEL is showing bullish signs too.

Bitcoin price started a fresh decline after it failed to stay above USD 38,000. BTC declined below USD 36,500, but it managed to stay above USD 35,000. It is currently (11:55 UTC) moving higher above USD 36,700.

Similarly, most major altcoins are trading above key support levels. ETH found support near USD 2,350 and recovered above USD 2,400. XRP climbed above USD 0.60 with a positive angle. ADA might face resistance near USD 1.08.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a fresh decline below USD 36,000, bitcoin price found support near USD 35,500. BTC formed a base and started a decent recovery wave. It is back above USD 36,000 and might soon test the USD 37,000 resistance. On the upside, an immediate resistance is near the USD 37,200 level. The next major resistance is near USD 37,500, above which the price might rise towards the USD 38,000 resistance.

On the downside, an initial support is near the USD 36,000 level. The next major support is near USD 35,500, below which the price might strengthen its bearish momentum.

Ethereum price

Ethereum price defended the USD 2,300 support zone, returned above USD 2,400, and is attempting a clear move above the USD 2,450 level. The first key resistance on the upside is near the USD 2,500 level. A close above USD 2,500 might start a steady increase in the near term.

If not, the price could decline towards the USD 2,350 support. The next major support is near USD 2,320, below which the bears might gain strength.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) remained stable above the USD 1.00 support zone. It is moving higher and trading near USD 1.05. The first key resistance is near USD 1.08, above which the price could even move above USD 1.10.

Binance coin (BNB) found support near the USD 360 level. It is rising and trading above USD 370. An immediate hurdle is near the USD 375 level, above which the price could test the USD 388 resistance zone.

Solana (SOL) is moving higher towards the USD 92 level. The first resistance is near the USD 95 level. The main resistance is still USD 100, above which the price could start a stronger increase. 

DOGE was stable above the USD 0.135 support. It is recovering and trading above USD 0.140. If there is a close above USD 0.145, the price may perhaps rise above the USD 0.150 level in the coming sessions.

XRP price found bids above the USD 0.58 support. It is back above USD 0.60 and might soon clear the USD 0.62 level. The next key resistance is near the USD 0.65 level, above which the price could gain momentum.

Other altcoins market today

Many altcoins are still down over 5%, including LUNA, DOT, AVAX, ATOM, LINK, NEAR, UNI, FTM, ICP, VET, and KLAY. Conversely, THETA rallied over 11% and broke the USD 3.00 level, while TFUEL jumped 31%, hitting USD 0.175 and trimming its weekly losses to 12%. THETA is down 31% in a week. 

To sum up, bitcoin price is moving higher above the USD 35,000 support level. To start a steady increase, BTC must clear the USD 37,000 level.

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