BTC, ETH, XRP, BNB and ADA Price Analysis for January 27


Denys Serhiichuk

What are the chances of seeing the cryptocurrency market fall?

The bulls were unable to sustain their gains after yesterday’s rally, and all the top 10 coins are back in the red zone.

Top Coins from CoinMarketCap

BTC/USD

Yesterday afternoon, buyers were able to restore Bitcoin (BTC) price to the USD 38,950 level. At the end of the day, the bulls’ fuses dried up and the bears immediately brought the pair back below the two-hour EMA55 level.

BTC/USD Chart by TradingView

Tonight, the BTC price decline continued below the $36,000 support. Over the course of the day, the pair could sink towards $34,400.

If bear pressure does not ease at this level, the price could test the $32,500 support in the second half of this week.

Bitcoin is trading at $37,036 at the time of writing.

ETH/USD

Yesterday, the price of Ethereum (ETH) recovered to USD 2,700. The daily high is set at $2,725. Late in the evening, selling volumes started to pick up and the bears pushed the price below the two-hour EMA55.

ETH/USD Chart by TradingView

This morning, the pair rolled back into the $2,450 area, and if buyers fail to keep the price from slipping below the $2,300 level, an update to the January low around the US dollar could see an update by the end of the week. psychological level are seen from $ 2,000.

Ethereum is trading at USD 2,514 at the time of printing.

XRP/USD

Despite yesterday’s daily high of $0.66, XRP’s price has failed to gain a foothold above the two-hour EMA55. Towards the end of the day, the sellers pushed the price back towards the $0.60 support, and overnight, the bears pushed the pair even lower.

XRP/USD Chart by TradingView

As of this morning, the price of XRP has tested the USD 0.59 level.

If the bulls fail to seize the initiative in this area for further recovery to the USD 0.70 resistance, the pair could reach USD 0.50 support over the weekend.

XRP is trading at $0.6146 at the time of writing.

BNB/USD

Binance Coin (BNB) has been tracking the decline of Bitcoin (BTC) and is down 4.83% since yesterday.

BNB/USD Chart by TradingView

After Binance Coin (BNB) bounced back from the $336 support, it continues to trade sideways, slightly approaching the zone of most liquidity around $400. If bulls can reach this point and fix above it, there are chances of a bullish trend reversal . Such a scenario is relevant until mid-February.

BNB is trading at $375.4 at the time of printing.

ADA/USD

Cardano (ADA) lost less than BNB with a drop of $3.82.

ADA/USD Chart by TradingView

Cardano (ADA) has returned to the zone above $1, which is good for bulls. If buyers can hold on to this figure and trading volume increases, the current accumulation could be a prerequisite for further growth into the most liquid zone around $1.30.

ADA is trading at $1,058 at the time of writing.

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