Cryptocurrency Market Jan 3, 2022: Bitcoin price attempted a breakout above the $ 48,500 region. However, BTC failed to accelerate past $ 48,500 and began another decline. At 04:24 UTC, BTC is consolidating near USD 47,000 and there is a risk of falling again towards USD 46,200.
Similarly, most large altcoins consolidate losses. ETH is recovering and could soon test the USD 3,850 resistance. XRP could attempt another spike above $ 0.850. ADA is consolidating near the $ 1.35 zone.
Cryptocurrency Market January 3, 2021: Bitcoin Price
After the nearly $ 48,500 bitcoin price was turned down, a renewed decline began. BTC has fallen below the $ 47,500 and $ 47,000 levels. However, the bulls remain active near the $ 46,000 zone. It is currently recovering and trading near $ 47,000. Immediate resistance is near the $ 47,500 mark. The main weekly resistance is currently forming near $ 48,500.
On the downside, initial support is near the $ 46,500 area. Key support is near $ 45,500 below risk of larger decline.
Cryptocurrency Market January 3, 2021: Ethereum Price
Ethereum price started spiking again and quickly rose above the $ 3,700 level to $ 3,800. The next major hurdle is at $ 3,850 above which the price could rise.
On the flip side, initial support is near the $ 3,720 level. The main weekly support is at $ 3,600, below which the price could drop in the short term.
Cryptocurrency Market January 3, 2021: ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) is consolidating near the $ 1.35 mark. Immediate resistance is near $ 1.38. The main breakout area is close to $ 1.40 above which the price could gain upside momentum in the upcoming sessions.
Binance Coin (BNB) is stuck at $ 525. It faces a small hurdle near the USD 532 level. The main hurdle is near the USD 545 and USD 550 levels. In the event of a breakout to the upside, the price could rise steadily in the coming sessions.
Solana (SOL) faces major resistance near the USD 178 and USD 180 levels. The weekly barrier is at $ 188, above which the price could rise quickly. Otherwise, you run the risk of approaching the $ 165 mark in the upcoming sessions.
DOGE is consolidating near the USD 0.172 support area. The next big support is near $ 0.170, below which a test of $ 0.165 is possible. On the downside, the price may encounter resistance near the $ 0.180 level.
The XRP price stayed at $ 0.85. A significant move above $ 0.85 could open the door to a test of $ 0.92. On the downside, there is important support near the $ 0.80 level.
Cryptocurrency Market Jan 3, 2021: Another Altcoin Market
Many altcoins are up more than 5%, including YFI, ANKR, QTUM, BORA, WAXP, ONE, BAT, UNI, KLAY, HBAR, HNT and XEC. Of these, YFI gained 12% and tested $ 41,000, bringing its weekly surge to 31%.
Overall, Bitcoin price is struggling to cross the $ 48,000 resistance. If BTC doesn’t gain momentum, it can drop below $ 46,200.
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