Crypto Markets Jan 12, 2022: Bitcoin Steadily Growing While Altcoins Gaining Momentum
Cryptocurrency Market Jan 12, 2022: Bitcoin price starts rising steadily above USD 41,500. BTC even climbed above the USD 42,500 resistance and shortly surged above USD 43,000. At 04:21 UTC, BTC is consolidating at $ 42,700, with strong support at $ 42,000.
Most large altcoins move up in a similar fashion. ETH accelerated over $ 3,150 and quickly rose to over $ 3,250. XRP gained strength above $ 0.75 while ADA broke the resistance area of $ 1.20.
Cryptocurrency Market January 12, 2022: Bitcoin Price
After Bitcoin price closed above $ 41,500, it began to rebound, climbing above the $ 42,500 resistance and breaking through $ 43,000, but was unable to get it back. It is currently consolidating profits close to $ 42,700. Immediate resistance is near the $ 43,000 mark. The next major resistance is at $ 43,500, above which the price could initiate a move towards $ 44,500.
On the flip side, initial support is near the $ 42,000 mark. The next major support is at $ 41,750, below which a retreat to $ 40,500 is possible.
Cryptocurrency Market January 12, 2022: Ethereum Price
Ethereum price accelerated after breaking the key resistance area of $ 3,150. ETH even surged above $ 3,250, but the bears showed up. If the resistance at USD 3,250 is broken again, the next major hurdle is at USD 3,320, above which a rally to USD 3,440 is possible.
Initial support is near the $ 3,180 mark. The next big support is near $ 3,150, below which it can test $ 3,020.
Cryptocurrency Market Jan 12, 2022: ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) broke the resistance levels of $ 1,165 and $ 1,180. It rose to over $ 1.20 and is currently consolidating. The next major resistance is at $ 1.22, above which the price can rise towards $ 1.25.
Binance Coin (BNB) is up over 6% and has a clear move above $ 450. It is currently facing resistance near the $ 465 mark. The next major resistance is at $ 478, above which the price could test $ 500.
Solana (SOL) was able to rebound over $ 132 and $ 135. It’s currently stuck at $ 140, with a major hurdle at $ 150. If there is a break above $ 150, a rally to $ 165 is possible.
DOGE is up nearly 6% and has seen a breakout above $ 0.150. The next major resistance is near the $ 0.165 level. If there is a downward correction, the price can test $ 0.145.
XRP price gained strength after breaking above the $ 0.750 resistance area. The next major resistance is near the $ 0.780 level, above which the price can test the $ 0.80 level.
Cryptocurrency Market Jan 12, 2022: Another Altcoin Market
Several altcoins are up more than 5% including ROSE, FTT, KSM, MINA, MATIC, ONE, GALA, EGLD, NEAR and SCRT. Of these, ROSE is up 23% and has a break above $ 0.45. FTM is up 17% to top $ 2.7.
Overall, Bitcoin price is showing positive signs above the important $ 42,000 zone. If BTC remains stable, it can see a stronger upward move above $ 43,000.
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