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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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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.