BTC, ETH, and XRP Price Analysis for January 12
Bulls might have seized the initiative as all coins from the top 10 list have come back to the green zone.
Yesterday, on the second try, buyers were able to overcome the resistance of the two-hour EMA55 and gain a foothold above $42,447.
Today, one should watch the further movement of the pair. If the bulls can continue the recovery toward $45,000, then a retest of the resistance at $46,000 can be expected this week.
If the bears break through the level of average prices and do not allow the pair to gain a foothold above the $42.447 level for a long time, then the market decline will not be over yet and the decline can continue below the psychological mark of $40,000.
Bitcoin is trading at $43,912 at press time.
Yesterday afternoon, the Ethereum (ETH) price broke through the resistance of the EMA55 moving average and, by this morning, it has consolidated in a narrow consolidation around the $3,335 mark.
If, today, the bulls continue to rise above the resistance of $3,400, then one can consider the possibility of further growth in the area of $3,800.
If the pair is unable to overcome the resistance level, then it is too early to talk about a reversal.
Ethereum is trading at $3,372 at press time.
The XRP price rebounded above the two-hour EMA55 yesterday. At the end of the day, the pair consolidated above the level of average prices and tonight continued weak growth to the level of $0.77.
If, today, the volume of purchases increases and the growth continues above the resistance of $0.80, then one can count on a recovery to the POC line ($0.829).
XRP is trading at $0.7979 at press time.Source