26 Jan 2022 · 2 min read

Bitcoin and Ethereum Keep Moving Higher, AVAX and MATIC Jump

  • Bitcoin price could gain pace if it clears the USD 38,000 resistance.
  • Ethereum is still below USD 2,500, XRP inches higher above USD 0.62.
  • DOGE, AVAX, and MATIC are showing positive signs.

Bitcoin price started an upside correction above the USD 36,000 resistance zone. BTC was even able to clear the USD 37,000 level. It is currently (04:15 UTC) showing positive signs near USD 37,400 but is facing a key hurdle near USD 37,500.

Similarly, most major altcoins are also moving higher. ETH is facing resistance near the USD 2,500 level. XRP is trading above the USD 0.62 pivot level. ADA might gain momentum if it surpasses USD 1.08.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After a recovery wave above USD 36,000, bitcoin price was able to extend gains. BTC climbed above the USD 36,800 and USD 37,000 levels. It is now facing a major resistance near the USD 37,500 level. The next major resistance is near USD 38,000, above which the price might rise towards the USD 40,000 barrier.

On the downside, an initial support is near the USD 36,400 level. The next major support is near USD 36,000, below which the price could revisit USD 35,000.

Ethereum price

Ethereum price is moving higher above USD 2,450. The first key resistance is near the USD 2,500 level. A clear move above USD 2,500 might send the price higher. The next key resistance is near USD 2,620, above which the price might rise towards the USD 2,750 level in the near term.

An initial support is near the USD 2,400 level. The next major support is near USD 2,320, below which the price might start a fresh decline.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is showing a few positive signs above the USD 1.02 and USD 1.04 levels. An immediate resistance is near USD 1.055. The first key barrier is still near USD 1.08, above which the bulls may perhaps gain strength.

Binance coin (BNB) is up 4% and there was a clear move above the USD 375 level. The price even tested USD 380 and is now facing resistance near USD 388, above which it could rise towards USD 400.

Solana (SOL) is gaining momentum above the USD 90 level. It seems like the bulls might aim for a break above the USD 100 resistance. If they succeed, the price could rise towards the USD 112 level. 

DOGE is up more than 6% and there was a break above the USD 0.142 level. The price is now approaching the USD 0.150 resistance. If there are additional gains, DOGE could accelerate higher towards the USD 0.165 level.

XRP price is moving higher towards the USD 0.632 level. The next key resistance is near USD 0.650, above which there could be a steady recovery wave. If not, the price could dive below the USD 0.600 support.

Other altcoins market today

Many altcoins are up over 5%, including DOT, AVAX, MATIC, CRO, NEAR, FTM, MANA, HBAR, VET, KLAY, SAND, and HNT. Out of these, MATIC and AVAX gained around 9%, reaching USD 1.59 and USD 68.59, respectively. Meanwhile, NEAR gained 12% and there was a move above USD 11.7.

Overall, bitcoin price is trying to recover above the USD 37,500 resistance zone. If BTC fails to gain pace, there is a risk of another bearish reaction towards USD 35,000.

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