Crypto market Jan 11, 2022: Bitcoin bounces back, while altcoins keep falling

Cryptocurrency Market Jan 11, 2022: Yesterday, Bitcoin price widened its decline below $ 40,500. Bitcoin is trading below the $ 40,000 mark, but the bulls are still active. The price has started a strong rebound and at 04:34 UTC Bitcoin is trading near $ 42,300.

Similarly, most of the big altcoins are showing some positive signs. ETH rose below $ 3,000 before a sharp move higher. XRP is still struggling to settle above the all-important $ 0.750 level. ADA rises below $ 1.10 ahead of a recovery wave.

Cryptocurrency Market January 11, 2022: Bitcoin Price

A strong rebound began after Bitcoin price fell below $ 40,000. BTC climbed above the USD 41,200 and USD 41,500 resistance levels. The price even rose to over $ 42,000. If the bulls stay active, they can attempt to climb above the $ 42,500 mark. The next 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 $ 41,500 mark. The next major support is at $ 40,800, below which a pullback to $ 40,000 is possible.

Cryptocurrency Market January 11, 2022: Ethereum Price

Ethereum price also extended its decline, trading below the $ 3,050 support. ETH rises below $ 3,000 but bulls are popping near $ 2,920. It is currently rising and trading above $ 3,100. Immediate resistance is near the $ 3,150 level. The next major hurdle is at $ 3,200 above which the price could rise.

Initial support is near the $ 3,020 mark. The next big support is near $ 3,000, below which the bears can push the price towards $ 2,880.

Cryptocurrency Market Jan 11, 2022: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) has gained downside momentum below $ 1.12 and $ 1.10. It tested $ 1.08 and steadily recovered. It is currently rising and breaking the USD 1.15 resistance. The next major resistance is at $ 1.18.

Binance Coin (BNB) extended the decline and tested the $ 405 level. It is currently correcting higher and breaking the $ 432 resistance, targeting $ 450 next.

Solana (SOL) tested the USD 130 level and is now rising. The bulls are currently facing a hurdle near the $ 140 mark. A clear break can propel the price towards $ 150.

DOGE is currently consolidating below the $ 0.150 level. A significant move above $ 0.150 can initiate a move towards $ 0.165. If not, it can test $ 0.132.

The XRP price is also consolidating below the $ 0.75 level. Immediate resistance is near the $ 0.75 level, above any possible stabilization level. The next major resistance is near the $ 0.78 level.

Cryptocurrency Market Jan 11, 2022: Another Altcoin Market Today

Several altcoins are down more than 5%, including AR, BORA, RVN, LRC, RUNE, GALA, QNT, MKR, CELO, FIL and FLOW. In contrast, NEAR, ROSE, ATOM and MIOTA gained more than 4%. Of these, NEAR rebounded 18% in one day, surpassing $ 16 and reducing almost all weekly losses, becoming the best-performing cryptocurrency among today’s top 100 coins.

Overall, Bitcoin price is accelerating over the key zone of USD 42,000. If BTC breaks the $ 42,500 mark, the price may soar towards $ 44,000 in the short term.

Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and share information about the crypto currency market.

Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice in any way. Your money, the choice is yours.