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Price analysis of Bitcoin (BTC), XRP (XRP) and Ethereum (ETH) – January 19

Bitcoin (BTC), XRP (XRP) and Ethereum (ETH)

Bitcoin (BTC)

Bitcoin (BTC) has been in decline in the last 24 hours. In this period, he was trading along the 200-day MA, hitting him several times but failed to push above it. This is an indicator that bears still have control of the market. If within the next 24 hours Bitcoin (BTC) fails to exceed the 200-day AM at $ 3693.2, it will be an indicator of a possible bearish breakout. It would be a signal to run out of Bitcoin with a target of $ 3578. This is the next level of Bitcoin (BTC) key support during the day and a possible exit point from a short-term selling position.

However, in the scenario where Bitcoin (BTC) pushes above the 200-day MA to $ 3693.2 with high volumes, it would be a sign of increased bullish momentum. This bullish signal would be confirmed by Bitcoin (BTC) pushing above the 6-day maximum of $ 3799.2. This would be a trigger to go long with a $ 4159 goal. This is a key resistance level for Bitcoin (BTC) on the 12-hour chart. If it breaks above this level, it would be a sign that the bulls have full control, and Bitcoin (BTC) could test maximums of $ 4500 or higher.

XRP (XRP)

XRP (XRP) has been strongly bearish in the last 24 hours. In this period, it rose from a maximum of $ 0.337 to a minimum of $ 0.323. This decline has also seen the creation of lower highs, an indicator that bears are strong in the market. To shorten XRP (XRP), its current price of $ 0.327, which is a lower value, is a good entry point. This position would have a good exit point at $ 0.320. This is a key support level for XRP (XRP) during the day. If it breaks below this level, XRP (XRP) could go down to $ 0.291. This is the next key support level for XRP (XRP) on the 6-hour chart.

However, in the event that XRP (XRP) gains bullish momentum and pushes above the main resistance of the day to $ 0.333, and extends those gains beyond the 6 day maximum to $ 0.347, it would be a trigger on XRP. A long position at this price level would have a good exit point at $ 0.386. This is a key resistance level for XRP (XRP) on the 6-hour chart and a possible inversion point in the day.

Ethereum (ETH)

Ethereum (ETH) has had a downward trend in the last 6 days and volumes have remained depressed. In the last 24 hours, Ethereum (ETH) has fallen from a maximum of $ 127.9 to a minimum of $ 120.3, while still forming lower peaks. This means that the current price of Ethereum of $ 121.39 represents a good entry point into Ethereum (ETH) with a target of $ 117.48. This is a key support level for Ethereum (ETH) on the 6-hour chart. If it exceeds this level, the next key support level could be $ 86.43.

On the other hand, if Ethereum (ETH) gains bullish momentum, pushes above the 200-day MA to $ 125.90, and extends beyond the 6-day maximum of $ 134.61, it would be a trigger factor to go long. A long position at this price level would have a good exit point at $ 153.49. This is a key resistance level for Ethereum (ETH) in 12-day MMA at 12 hours.

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