ETH, XRP, BNB and ADA Price Analysis for January 29


The weekends have started with the ongoing correction of the cryptocurrency market as all the top 10 coins are in the green zone.

Top Coins from CoinMarketCap

ETH/USD

Ethereum (ETH) is up 7% in the past 24 hours.

ETH/USD Chart by TradingView

After Ethereum (ETH) bounced off the support at $2,300, it continues to trade sideways, accumulating strength ahead of the price explosion.

Thus, growth is being supported by increased trading volume, meaning there is a possibility of seeing sustained gains above USD 2,600 next week.

Ethereum is trading at USD 2,540 at the time of printing.

XRP/USD

XRP gained less than Ethereum (ETH) as it gained 3.39%.

XRP/USD Chart by TradingView

Despite the growth, XRP is neither bullish nor bearish as the currency continues to trade sideways.

Currently, traders are gathering strength for a sharp move, meaning to keep a close eye on the support level at $0.6959 and the resistance at $0.5614.

XRP is trading at $0.6152 at the time of writing.

BNB/USD

The price of Binance Coin (BNB) is up 2.12% since yesterday.

BNB/USD Chart by TradingView

Unlike other coins, Binance Coin (BNB) seems to be gathering enough strength for continued growth. Right now, the price is slowly approaching the resistance at $405.6. If bulls can top it, there are chances to see a continued rise towards $450.

BNB is trading at $390.6 at the time of writing.

ADA/USD

Cardano (ADA) is no exception to the rule, rising 4.04%.

ADA/USD Chart by TradingView

Cardano (ADA) is about to return to the resistance level at $1.155 on the daily chart. Even though the trading volume is low, if ADA moves into the area around $1.10 and trades there for a while, growth could soon move into the most liquid zone around $1.232.

ADA is trading at $1,070 at the time of writing.

Leave a Reply

Your email address will not be published.