Market Summary 25/1: Bitcoin Price Pushes to USD 34,200 Resistance, Ethereum Price Reaches USD 1,475

Bitcoin News

After a sharp decline, bitcoin price recovered above USD 32,000. BTC climbed steadily above USD 32,500 and it even surpassed the USD 33,000 level. The price is now facing hurdles near the USD 33,500 level.

The main weekly resistance is near the USD 34,200 level. A close above USD 34,200 might increase the chances of a push above the USD 35,000 resistance zone.

On the downside, the USD 32,400 level is a decent support. The key support is near USD 30,800, below which the bears might aim for a test of the UD 28,500 support zone.

Ethereum News

Ethereum price outperformed bitcoin and climbed sharply after it broke the USD 1,300 level. ETH gained over 15% and it cleared many barriers near USD 1,400.

The price traded to a new all-time high near USD 1,475 and recently started a downside correction.

An initial support on the downside is near the USD 1,400 zone. The next major support is near USD 1,350, below which there is a risk of a larger downside correction.

On the upside, the bulls might aim for a break above USD 1,500.

Other Altcoin News

Here's how other altcoins besides Ethereum performed.

1. Bitcoin Cash

Bitcoin cash price is recovering and trading above USD 450. The first key resistance is near the USD 465 level, above which BCH may possibly rise towards the USD 488 resistance level. The next major hurdle for the bulls is near the USD 500 level. On the downside, the price might remain stable above USD 425 and USD 415.

2. Litecoin

Litecoin (LTC) is back above USD 140 and it is testing the USD 145 zone. An immediate resistance is near the USD 150 level. A successful close above the USD 150 level could increase the chances of a push towards the USD 165 and USD 168 resistance levels.

3. Ripple

XRP price is forming a support base above the USD 0.255 and USD 0.262 levels. On the upside, the USD 0.285 level is a short-term resistance. The main weekly pivot level is at USD 0.300. A close above USD 0.300 and USD 0.312 might pump the price above the USD 0.320 level.