January 26 Crypto Price Analysis: ETH, XRP, ADA, SOL and BNB
This week we take a closer look at Ethereum, ripple, Cardano, solana and Binance Coin.
Ethereum (ETH)
Ethereum is down almost 10% this week after failing to sustain its rise. The price rebounded close to the main $2,150 support.
Momentum remains bearish on higher time frames but lower time frames like the 4-hour look like oversold and the price may bounce there.
Looking ahead, ETH is at a critical juncture on the chart. If buyers can manage to sustain the price above $2,150, there are high chances of reversing this bearish momentum.
Chart by TradingView
Ripple (XRP)
Unfortunately, XRP could no longer hold above 54 cents, which turned into resistance. That’s why the price dropped by 7% last week.
Current support has risen to 43 cents and buyers appear to have disappeared since the price closed in the red for five consecutive days.
Looking ahead, the trend for XRP is bearish and sellers currently have free reign to push the price lower.
Chart by TradingView
cardano (ADA)
ADA lost 5% this week but managed to find good support at 46 cents. There is hope for a possible upside if buyers hold above this key level.
Resistance is located at 60 cents and is unlikely to be tested anytime soon as this would require significant bullish momentum to form.
Look aheadADA needs to do its best to maintain itself at this level. Otherwise, it may end up like XRP and see lower bottoms.
Chart by TradingView
Solana (LEFT)
Solana remains above the $78 support level. That’s a positive sign, but even so, it’s still down 6.8% this week.
It looks like the sellers are quite tired and a bullish trend has formed on the 4-hour MACD histogram. If approved, the SOL could then attempt a relief rally.
Looking ahead, if the momentum shifts more in the bull’s favor in the coming days, this cryptocurrency may try to reach triple digits again.
Chart by TradingView
Binance Coin (BNB)
BNB’s bullish momentum stalled this week, with the price falling 5.7%. This paves the way for a correction towards the key support at $260.
Moreover, binance Coin fell below $300 after the $330 resistance did not allow the price to rise.
Looking ahead, if this cryptocurrency fails to climb above $300 anytime soon, then sellers may gain the upper hand and take it to the key support.
Chart by TradingView
The post January 26 Crypto Price Analysis: ETH, XRP, ADA, SOL and BNB appeared first on CryptoPotato.
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