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Crypto market January 4, 2022: Bitcoin and Ethereum fail near all-time highs

Crypto Market Jan 4, 2022: Bitcoin price failed to break the USD 48,500 resistance area and started a new decline. BTC was trading below the USD 47,000 support area. At 04:34 UTC, BTC is trading near $ 46,400 and remains at risk of a larger decline.

Likewise, most of the big altcoins will fall. ETH has fallen below $ 3,800 but the bulls are defending $ 3,680. XRP falls to the $ 0.800 support. ADA retested the USD 1.30 support area.

Cryptocurrency Market January 4, 2022

Cryptocurrency Market January 4, 2022: Bitcoin Price

After another setback near $ 48,000, Bitcoin price started falling again. BTC traded below the $ 47,500 and $ 47,000 levels. The price is currently consolidating near the $ 46,000 mark. Immediate support is near the $ 46,000 mark. Critical support is near $ 45,500, below which there is a risk of a bigger decline.

On the flip side, there is an initial hurdle near the $ 46,800 mark. The first major resistance is at $ 47,000, above which the price could rise.

Cryptocurrency Market January 4, 2022: Ethereum Price

Ethereum price also began to drop below $ 3,800. ETH fell below $ 3,750 and retested $ 3,680 before bouncing back to $ 3,750. On the flip side, initial support is near the $ 3,700 mark. The main breakout support is at $ 3,680, below which a pullback to $ 3,600 is possible.

Immediate resistance is near the $ 3,780 level. The next major hurdle is at $ 3,800, above which the price could attempt to break through $ 3,850.

Cryptocurrency Market January 4, 2022: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) is down nearly 3% to move below $ 1.32. It is currently trying to rebound, but if it fails, a sharp drop below $ 1.30 in the upcoming sessions could usher in a bigger drop.

Binance Coin (BNB) is also down 3% and the bears have pushed the price below $ 512. It is struggling to stay above the $ 500 mark right now. A closing price below $ 500 could trigger a steeper decline towards $ 480.

Solana (SOL) fell below $ 170. The price is currently approaching the $ 165 support level. If the bulls fail to defend $ 165, a bigger decline is possible. On the flip side, the bears could stay active near the $ 175 mark.

DOGE fell below the $ 0.170 mark. Price is gaining downside momentum and could soon return to the $ 0.165 level. The next big support is near the $ 0.162 level.

The XRP price fell and approached the $ 0.820 level. The next big support is near $ 0.80 below which the price could accelerate downward. On the downside, $ 0.85 is a huge hurdle.

Cryptocurrency Market Jan 4th 2022: Another Altcoin Market

Many altcoins are up more than 8%, including FTM, NEAR, SCRT, CRV, RVN, ALGO, AMP, ATOM, ROSE, and LINK. Of these, FTM gained nearly 20% to hit $ 2.90, bringing the weekly increase to nearly 32%. Meanwhile, NEAR is up 22% in one day and 17% in a week, and is now above $ 17.

Overall, Bitcoin price is falling and consolidating near $ 46,000. Should BTC not hold above $ 46,000, there could be a more pronounced drop in the short term.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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