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Cryptocurrency Market January 28, 2022: Bitcoin and Ethereum Try to Recover

Cryptocurrency market Jan 28, 2022: bitcoin price formed a base and scaled above $36,500 level. As of 04:18 UTC, BTC was showing positive signs near $37,400 and it could scale to the $38,000 resistance level.

Similarly, most major altcoins are also moving higher. ETH could accelerate if there is a clear move above $2,500. XRP is stabilizing above the $0.60 pivot level. ADA might face resistance near $1.08 level.

Cryptocurrency Market January 28, 2022: Bitcoin Price

After a short term drop, bitcoin price found support near the $35,500 region. BTC has started a new rally and has broken the USD 37,000 mark. On the upside, the price is facing resistance near $37,500. The next major resistance is $38,000, above which a steady rise is possible.

Otherwise, a fresh dip below the $36,400 support is possible. The next major support is $35,500, below which the price could accelerate on the downside.

Cryptocurrency Market January 28, 2022: Ethereum Price

Ethereum price is stabilizing above the $2,400 level. ETH is consolidating near the $2,450 level. The first major resistance on the upside is near $2,500. The next key resistance is at $2,550, above which the price might start a decent climb.

On the upside, initial support is near $2,400. The next major support is near $2,320, below which a loss could be extended.

Price of ADA, BNB, SOL, DOGE and XRP

Cardano (ADA) is showing positive signs above the $1.02 level. Immediate resistance is near the $1.05 level. The first key resistance is near $1.08, above which the bulls can gather strength.

Binance Coin (BNB) is up nearly 8% and has traded well above $380. It is currently trading above $385 and it seems like the bulls are heading towards the $400 resistance area.

Solana (SOL) is moving higher and trading above $90. An initial hurdle is near the $95 mark. The main resistance is near the $100 level, above which the price could rally.

DOGE is struggling to break the $0.145 resistance. The next resistance is near the $0.150 level. A close above $0.150 could start a stronger rally in the short-term.

XRP price is consolidating near the $0.600 level. The immediate hurdle is near $0.62. The main break resistance is now forming near the $0.65 level where the bears are likely to remain active.

Other altcoin market

Many altcoins are up more than 5%, including DOT, MATIC, CRO, LINK, ALGO, FTT, MANA, SAND, EGLD, and GRT. Of these, SAND is up almost 17% and climbed above $3.50, cutting weekly losses to less than 11%. ENJ is up 13%, topping $1.65 and cutting its weekly loss to 21%.

Overall, bitcoin price is moving towards the $38,000 resistance level. To continue higher, BTC needs to gain strength above the $38,000 resistance.

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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 your.

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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