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Cryptocurrency Market Jan 26, 2022: Bitcoin and Ethereum Continue Rally After Recovery

Cryptocurrency market Jan 26, 2022: Bitcoin price started an upward correction above the $36,000 resistance area. BTC was even able to break through the $37,000 mark. At 04:15 UTC, BTC is showing positive signs near $37,400 but is facing a major hurdle near $37,500.

Similarly, most major altcoins are also moving higher. ETH is facing resistance near the $2,500 level. XRP is trading above the $0.62 pivot level. ADA could gain momentum if it breaks $1.08.

Cryptocurrency Market January 26, 2022: Bitcoin Price

After a bounce above $36,000, bitcoin price continued its rally. BTC rallied above the $36,800 and $37,000 levels. It is currently facing a major resistance near the $37,500 level. The next major resistance is $38,000, above which the price can rally towards $40,000.

On the downside, initial support is near the $36,400 level. The next major support is $36,000, below which a pullback to $35,000 is possible.

Cryptocurrency Market January 26, 2022: Ethereum Price

Ethereum price surges above $2,450. The first key resistance is near the $2,500 level. A clear move above $2,500 could propel the price higher. The next key resistance is $2,620, above which a near-term rally to $2,750 is possible.

Initial support is near $2,400. The next major support lies at $2,320, below which a fresh decline could start.

Cryptocurrency Market January 26, 2022: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) is showing some positive signs above the $1.02 and $1.04 levels. Immediate resistance stands at $1,055. The first key hurdle remains at $1.08, above which the bulls can gather strength.

Binance Coin (BNB) is up 4% and has traded well above $375. The price even tested $380 and it is currently facing resistance near $388, above which it can rally to $400.

Solana (SOL) is gaining momentum above the $90 level. It seems like the bulls might aim to break the $100 resistance. If they succeed, the price can go up to $112.

DOGE is up more than 6% and had a breakout above $0.142. The price is currently approaching the $0.150 resistance level. If there is more upside, DOGE can accelerate higher towards $0.165.

XRP price is moving higher towards $0.632. The next key resistance is at $0.650, above which a steady wave of recovery is possible. Otherwise, the price might drop below the $0.600 support.

Cryptocurrency Market January 26, 2022: Another altcoin market

Many altcoins are up more than 5%, including DOT, AVAX, MATIC, CRO, NEAR, FTM, MANA, HBAR, VET, KLAY, SAND, and HNT. Of these, MATIC and AVAX were up about 9% to hit $1.59 and $68.59, respectively. Meanwhile, NEAR is up 12% and has recovered above $11.7.

Overall, bitcoin price is trying to rally above the $37,500 resistance area. If BTC fails to gain momentum, there is a risk of another bearish reaction towards $35,000.

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Important NOTE: All content on the website is for informational purposes only and in no way constitutes investment advice. Your money, the choice is yours.

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.

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