BTC and ETH Fall Below their Marks, XRP’s Price Reaches a New Level

Major Signals

• Bitcoin crossed the 26.5K support stage to descend to a temporary bearish zone.
• ETH price extended its rise towards the USD 750 level before starting a downside correction.
• XRP price failed to overcome selling pressure near USD 0.300.

Also, there were swing moves in most prominent altcoins. ETH/USD traded close to USD 750 before correcting lower to USD 700. XRP/USD started a fresh decline and traded below the USD 0.240 support zone.

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Following failures to hit the 27.25k margin, BTC value continued to a downturn. It dipped further to $26.2k and appears to struggle to retain this position.

If it swings deeper, another bearish zone of 25.5k may be tried. But in the face of a leap above this mark, then 26.2k could be the new resistance point. That said new resistance

If there is a fresh increase, the previous support at USD 26,500 might act as a resistance. The main resistance on the upside seems to be forming near USD 27,000 and USD 27,250.

ETH traded below the USD 720 and USD 718 support levels. It even spiked below USD 700. If there are more downsides, the bulls might remain active near the USD 685 and USD 680 levels in the near term.

On the upside, the USD 720 level may possibly act as a barrier once again. A close above USD 720 could open the doors for a fresh increase towards the USD 745 and USD 750 levels.

Bitcoin cash price also corrected lower and traded below the USD 350 support level. BCH is approaching the USD 330 support level. If there is a close below USD 330, there is a risk of an extended decline towards the USD 312 and USD 310 levels.

On the upside, the USD 350 level is an important pivot level.

Litecoin (LTC) is back below USD 130 and it is testing the USD 125 support. If there are more losses, the bears might test the USD 118 and USD 115 support levels. The next major support is near the USD 105 level. Conversely, a fresh increase may possibly face sellers near the USD 132 level.

XRP couldn’t break off the $0.3 spot. As a result, there was a fresh decline below USD 0.250. The price accelerated its decline after Coinbase said it will suspend XRP trading in January. The price is now approaching the USD 0.220 support, below which it could dive towards the USD 0.200 level.

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