Bitcoin Price Analysis [BTC]
Yesterday, we discussed the key support at $3,940 for bitcoin price against the US Dollar. The BTC/USD pair stayed above the mentioned support and it slowly moved above $3,965 and $3,980. Buyers pushed the price above the $4,000 level. There was a break above the 23.6% Fib retracement level of the last drop from the $4,114 swing high to $3,965 swing low. It opened the doors for more gains above $4,050 and the price is now well above the 100 hourly simple moving average.
Initial resistance is near the $4,040 level. It represents the 50% Fib retracement level of the last drop from the $4,114 swing high to $3,965 swing low. More importantly, there is a short term triangle forming with resistance at $4,045 on the hourly chart of the BTC/USD pair. Therefore, a break above the triangle and $4,050 may open the doors for more gains in the near term.
The next resistance is at $4,085, above which the price may climb towards the $4,150 and $4,200 levels. An intermediate resistance is the 1.236 Fib extension level of the last drop near $4,140.
Bitcoin price is gaining bullish momentum above $4,010 against the US Dollar. BTC remains supported on dips and it may soon climb above the $4,165 and $4,200 resistances.
Looking at this chart, bitcoin price is trading with a bullish tone above the $3,965 support. If there is a downside reaction below $3,965, the price may decline towards the $3,940 and $3,896 support levels. The main support below $3,896 is at $3,750
Ethereum Price Analysis [ETH]
After forming a support base near $146, ETH price recovered a few points against the US Dollar. The ETH/USD pair traded above the $148 and $150 resistance levels. There was also a break above the 23.6% Fib retracement level of the last slide from the $160 high to $146 swing low.
However, the upside move was capped by the $153-154 resistance zone. There was also no proper close above $152 and the 100 hourly simple moving average. Besides, the 50% Fib retracement level of the last slide from the $160 high to $146 swing low acted as a resistance. The price declined again and moved below the $152 level and the 100 hourly SMA. It is currently consolidating near the $150 level, with a minor bearish angle. On the upside, there is a strong resistance formed near $154. There are also two major bearish trend lines formed with resistance at $152 and $154 on the hourly chart of ETH/USD. Above the trend lines, the price could trade towards the $157 resistance area. A clear break above $157 and 76.4% Fib retracement level of the last slide may push the price towards $160.
Looking at this chart, ETH price seems to be aligning for the next move either above $154 or below $146 and 135. If buyers continue to face hurdles near $154, there is a risk of a downside break below $146.
Ripple Price Analysis [XRP]
Yesterday, we discussed a possible upward move above $0.3680 in ripple price against the US Dollar. The XRP/USD pair did gain bullish momentum and traded above the $0.3600 and $0.3650 resistance levels.
It also cleared the 76.4% Fib retracement level of the last slide from the $0.3760 high to $0.3580 low. More importantly, there was a proper close above the $0.3680 resistance and the 100 hourly simple moving average. Finally, there was a break above a key triangle with resistance at $0.3665 on the hourly chart of the XRP/USD pair. It opened the doors for more gains and the price traded above $0.3800.
A new intraday high was formed at $0.3823 and later the price corrected lower. It is currently trading below $0.3800 and $0.3780 levels. Sellers pushed the price below the 23.6% Fib retracement level of the recent wave from the $0.3591 low to $0.3823 high. However, there are many supports on the downside near the $0.3720 and $0.3700 levels. Besides, the 50% Fib retracement level of the recent wave from the $0.3513 low to $0.3823 high is at $0.3706.
Looking at this chart, ripple price is currently placed nicely in a positive zone above the $0.3680 level. In the short term, there could be a few bearish moves, but the $0.3700 support could act as a support. On the upside, the price may soon break $0.3850 and $0.3900.
Litecoin Price Analysis [LTC]
Yesterday, January 9, the price of Litecoin was in a bullish trend. The price of Litecoin fell to the 26-day EMA after failing to break the resistance at $40. In the past five days, the crypto’s price has been trading below the $40 price level. Yesterday, the bears broke the 12-day EMA and price fell to the $39 price level. Today, the bulls are making another attempt at the resistance level. On the upside, the crypto will reach the highs of $56 and $63 if the bulls break the $40 price level. On the other hand, if the bears break below the EMAs the crypto will find support at $32. Meanwhile, the stochastic is out the overbought region but below the 20% range indicating that the price of Litecoin is in a bullish momentum and a buy signal.
On the 1-hour chart, the price of Litecoin is in a bearish trend zone. Yesterday, the crypto fell to the low of $39.22. Today, the crypto is making an attempt to break above the 12-day EMA and the 26-day EMA in order to be in the bullish trend zone. Meanwhile, the stochastic is out of the overbought region but below the 20 % range which indicates that the crypto is in bearish momentum and a sell signal.