Market Summary 20/1; Bitcoin Picks up, Ethereum is Back above USD 1,200

Bitcoin News

After a sharp decline, bitcoin price started a decent recovery wave above USD 30,500. BTC is gaining momentum above USD 31,200, but it might face resistance near USD 32,200 and USD 32,500. If there is a clear break above USD 32,500, there could be a test of the USD 33,000 resistance level.
If there is a fresh decline, the USD 31,200 support could provide support. The next major support is near the USD 30,500, where the bulls might take a stand.

"Tensions around an alleged Bitcoin double-spend combined with a generally insecure stance between BTC’s bears and bulls sent the currency teetering all the way down to USD 30,000. But what was perceived as an ill-natured manipulation was in fact a perfectly normative blockchain event, wherein the network functioned in accordance with its protocol – a clear as day sign that

Ethereum News

Ethereum price is recovering above USD 1,150 and USD 1,180. ETH is showing positive signs above USD 1,200 and it could continue to rise towards the USD 1,250 resistance zone. The next major resistance and a breakout zone could be near the USD 1,280 level.
If there is a fresh decline, the USD 1,180 level might provide support. The main support is now forming near USD 1,120, below which the price might resume its decline.

Other Altcoin News

See how other altcoins besides Ethereum performed.

1. Bitcoin Cash

Bitcoin cash price is trading well above the USD 400 support level. BCH is gaining pace above USD 425 and it is approaching the USD 440 level. The first major resistance is near USD 450, above which the price might rise towards the USD 485 resistance. Conversely, the price could remain well bid above USD 415.

2. Litecoin

Litecoin (LTC) is up over 5% and it broke the USD 140 resistance. LTC is showing positive signs and it seems like there could be more upsides towards the USD 148 and USD 150 levels. If there is no upside break towards USD 150, the price might decline back towards the USD 132 support level. The next key support is near the USD 130.

3. Ripple

XRP price is correcting higher and it is now trading well above USD 0.265. The price is showing positive signs and it could rise towards the USD 0.285 and USD 0.288 levels. The main breakout zone is still near the USD 0.300 level. On the downside, the USD 0.265 and USD 0.255 levels could provide support.