Cryptocurrency market Jan 25, 2022: Bitcoin price finds support near $33,000 and starts an upward correction. As of 04:15 UTC, BTC is up 3%, trading near $36,500 and facing resistance near $37,000.
Similarly, most major altcoins are attempting an upward correction. ETH spiked to $3,150 before rallying higher. XRP is consolidating near the $0.600 region. ADA is still facing a strong resistance near $1.10.
Cryptocurrency Market January 25, 2022: Bitcoin Price
After a short-term recovery, bitcoin price continued its decline below the $34,000 region. However, the drop is less than $33,000. It started a fresh upward correction and even scaled above $37,400, but the bears gained again and pushed the price below $37,000. The next major resistance is at $37,500, above which the price can rally towards the $40,000 barrier.
On the upside, initial support is near $35,000. The next major support stands at $34,200, below which a continuation of the downtrend is likely.
Cryptocurrency Market January 25, 2022: Ethereum Price
Ethereum price also extended declines below $2,220 and $2,200. ETH found support at $2,150 and started an upward correction. There was a move above $2,400 but the price is facing resistance near $2,500 and it remains down 2% in one day. The next key resistance is $2,550, above which the price could start a steady corrective wave.
The initial support is near the $2,320 level. The next major support is $2,200, below which a drop is possible.
Cryptocurrency Market January 25, 2022: ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) has broken below the $1.0 support. However, the bulls defended the $0.95 support. It is back above $1.00 but the bulls face many hurdles near $1.08 and $1.10.
Binance Coin (BNB) fell below $350 but failed to test $320. The price recovered above $360. It is currently facing resistance near $375, above which a rally to $400 is possible.
Solana (SOL) surged to the $80 support where the bulls emerged. It has since rebounded to almost $90. On the upside, immediate resistance is near $95. However, the main hurdle is currently $100.
DOGE extends its decline towards the $0.120 support area. It is currently recovering and trading above $0.135. If there is more upside, the price can surge above the $0.140 level in the short term.
XRP price tested the $0.550 level before an upward correction. Immediate resistance is near the $0.620 level. The next key resistance is near $0.650, below which a rally to $0.75 is possible.
Cryptocurrency Market January 25, 2022: Another altcoin market
Several altcoins are up more than 5%, including ATOM, FTM, MKR, LRC, BORA, and HOT. Of that, ATOM gained 9%, breaking $36 and cutting its weekly loss to 6%.
Overall, bitcoin price is trying to rally above the $36,000 region. However, BTC needs to clear $37,200 and $37,500 to move into a short-term positive zone.
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