Crypto Market Jan 10, 2022: Bitcoin and Ethereum Approach Key Support

Cryptocurrency Market Jan 10, 2022: Bitcoin price extended its decline below $ 43,000 and even traded near $ 40,500. BTC at 04:28 UTC is trying to bounce back above $ 42,150.

Similarly, most of the major altcoins trade above key supports. ETH tested $ 3,000 and went back to near $ 3,200. XRP is consolidating near the important $ 0.750 level. ADA trades below the $ 1.20 resistance area.

Cryptocurrency Market January 10, 2022: Bitcoin Price

After the Bitcoin price fell below $ 43,000, it prolonged its decline. BTC is even trading below $ 41,200. The bears tried to get closer to the $ 40,000 mark, but the bulls held on. A low has been made near $ 40,500 and the price is currently attempting an upward correction. On the other hand, there is an initial hurdle near the $ 42,500 mark. The first major resistance is at $ 43,200, above which the price could initiate a move towards $ 45,000.

On the flip side, initial support is near the $ 41,200 mark. The next major support is at $ 40,000, below which it may drop to $ 38,000.

Cryptocurrency Market January 10, 2022: Ethereum Price

Ethereum price also extended its decline, trading below the $ 3,200 support. ETH tested the $ 3,000 region and is currently consolidating nearly $ 3,180. Immediate resistance is near the $ 3,200 level. The next major hurdle is at $ 3,250, above which a rally to the weekly resistance at $ 3,500 is possible.

Initial support is near the $ 3,050 mark. The next major weekly support is near $ 3,000 with the risk of moving towards $ 2,800 below.

Cryptocurrency Market Jan 10, 2022: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) tested the USD 1.15 support. It is currently consolidating losses with the immediate barrier at $ 1.18. The next major resistance is at $ 1.20, where the bears are likely to remain active for the short term.

Binance Coin (BNB) extended the decline and tested the $ 425 level. It is currently correcting higher, nearing $ 445. The first major resistance is at $ 450, above which the price could initiate a stronger rebound.

Solana (SOL) is stuck near the $ 140 mark. A break in the downtrend and a close below $ 135 could put pressure on the bulls. The next big support is at $ 120.

DOGE climbed below the $ 0.155 support. It is currently consolidating losses and encountering resistance near $ 0.155. The next major resistance is near the $ 0.165 level. On the flip side, the bulls can stay active near $ 0.142.

The XRP price traded below $ 0.742 before rebounding and returning to $ 0.76. Immediate resistance is near $ 0.78. The next major resistance is near the $ 0.80 level.

Cryptocurrency Market Jan 10, 2022: Another Altcoin Market

Several altcoins are up more than 4% including AR, DASH, LUNA, FTT, XDC, CAKE, MATIC, ICP, AVAX and LINK. Of these, AR is up 7% and is trading above $ 52, reducing weekly losses to 14%.

Overall, Bitcoin price is consolidating above the key support at $ 40,000. If BTC cannot hold above $ 40,000, there is a risk of another sharp decline in the near future.

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