Have the main coins accumulated enough power for continued mid-term growth?
Bulls might have seized the initiative as all coins from the top 10 list have come back to the green zone.
BTC/USD
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.
ETH/USD
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.
XRP/USD
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: https://u.today/btc-eth-and-xrp-price-analysis-for-january-12