Crypto Market Jan 14, 2022: Bitcoin price has made another attempt to surpass $ 44,000. BTC made a high near $ 44,400 and began a downward correction. At 04:18 UTC, BTC is trading near $ 42,800 with the main support at $ 42,000.
Similarly, most of the big altcoins correct gains. ETH fell from the resistance area of $ 3,400. XRP has fallen below the $ 0.780 support area. ADA is down nearly 5% and trades below the $ 1,265 support area.
After Bitcoin price surged above $ 44,000, it faces sellers near the $ 44,400 region. BTC failed to rise any further and began a downward correction. There was a break below the $ 43,200 and $ 43,000 support levels. The next major support is near $ 42,000, below which the price may struggle to initiate a renewed spike in the short term.
If it recovers, immediate resistance will be near the $ 43,000 mark. The next major resistance is at $ 43,200, above which the price could initiate another move towards the $ 44,400 area.
Ethereum price has also tried to soar well above the $ 3,400 mark. However, ETH struggled to move higher and corrected below $ 3,320. The price is consolidating near $ 3,280. Initial support is near the $ 3,220 level. The next big support is near $ 3,200, below which the price can test $ 3,120.
On the flip side, the immediate resistance is close to $ 3,300. The next major resistance is at $ 3,380, above which price could gain upside momentum.
Cardano (ADA) failed to hold above $ 1.30 and began a downward correction. ADA traded below the USD 1.28 and USD 1.265 support levels. If there are more losses, a test of $ 1.22 is possible.
Binance Coin (BNB) is still consolidating near $ 480. Immediate resistance is at $ 488, above which the price could test $ 500. Otherwise, a move towards the USD 465 support is possible.
Solana (SOL) corrected down from $ 158. It’s trading below $ 150 and is approaching $ 145. The next big support is near the $ 138 mark.
DOGE accelerated above the $ 0.172 level. It is up 6% and is trading near the $ 0.175 level. The next major resistance is near the $ 0.180 level, above which a rally to $ 0.192 is possible.
The XRP price has been corrected down in the $ 0.80 area. It’s moving down and trading below $ 0.78. Immediate support is near the $ 0.75 level, below which the bears can push the price down to $ 0.72.
Several altcoins are up more than 5% including SCRT, XMR, NEAR, HEX, KSM, CRV and ONE. Of these, SCRT is up 15% and has seen a breakout above the $ 7.50 level. Meanwhile, XMR is up 9%, topping $ 221, and taking its weekly surge to 9%. NEAR is now up nearly 20% in a week as it gained 8% in one day and broke $ 19.
Overall, Bitcoin price corrects profits from the $ 44,400 region. If BTC stays stable above $ 42,000, there could be a new rally in the near future.
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