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Bitcoin and Ethereum Stuck Between Key Levels, ETC and THETA Rally

21-Jan-2022 By: Rohit Tripathi
Bitcoin and Ethereum

        • Bitcoin price is struggling to recover above USD 42,750.

        • Ethereum is facing hurdles near USD 3,200, XRP settled below USD 0.75.

        • ADA keeps trimming its gains, while ETC and THETA are rallying.

        Bitcoin price

        After a break below USD 42,500, the bitcoin price extended decline. BTC even broke the USD 42,000 support level. It spiked below USD41,500 before the bulls appeared and pushed the price above USD 42,400 before it dived towards USD 41,700 again. 

        On the downside, the next major support is near USD 41,200, below which there is a risk of a sharper decline.

        Ethereum price

        Ethereum price also extended decline below the USD 3,120 support. ETH tested USD 3,080 and recovered higher. On the upside, immediate resistance is near USD 3,200. The next key resistance is near USD 3,250, above which the price might attempt a steady upward move.

        Initial support is near the USD 3,080 level. The next major support is near USD 3,000, below which there is a risk of a strong decline.

        ADA, BNB, SOL, DOGE, and XRP price

        Cardano (ADA) started a downside correction after a strong rally towards USD 1.60. The bears pushed the price back below USD 1.50 and almost USD1.40 before recovering towards USD 1.45. It is now down 8% in a day and trimmed its weekly gains to less than 23%.

         Binance coin (BNB)  is consolidating near the USD 465 level. Any more downsides may perhaps push the price towards the USD 450 level. If there is a fresh increase, the bears might take a stand near the USD 480 level.

        Solana (SOL) tested the USD 135 zone. It is back above USD 138 but facing resistance near USD 140. The next major resistance is near USD 150, above which the price could rise to USD 165.

        DOGE is struggling below the USD 0.170 pivot level. If the bears remain in action, the price could decline towards the USD 0.150 level. Conversely, the price could recover towards the USD 0.180 level.

        XRP price settled below the USD 0.75 level. The next major support is near the USD 0.735 level. If there are additional losses, the price could continue to move down towards the USD 0.700 level.

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