January 31 Crypto Price Analysis: Discover the End Month Market Performances of BTC, ETH, XRP, BCH, BSV, And LTCFebruary 1, 2020
Over the past few weeks, many folks have noticed that the crypto market continues to enter the bull run. That’s especially when Bitcoin (BTC) and other major altcoins successfully recorder momentous gains.
Crypto assets like BTC, Bitcoin Satoshi Vision (BSV), and Litecoin (LTC) enjoy the bulls sentiments. In short, before the first month of 2020 ends, different cryptos have aggressively risen. However, the bulls were challenged to sustain the price actions.
BTC’s Turn Down from $9,600 Minor Resistance
Following the turn down from $9,600 minor resistance level, Bitcoin still offers an advantage to the bulls. That’s due to sloping 20-day EMA. The bulls are expected to protect the dip at $8,736 20-day EMA.
In the case that bulls successfully push a price rebound in the 20-day EMA, then they will set another goal to break the $9,600 overhead resistance. After that, the BTC/USD pair can possible rally towards $10,360.89.
ETH’s Strong Support at $173.841
On January 30, Ethereum (ETH) break above the resistance levels of $173.842 and $180. On the other hand, the bulls failed to build on that strong move up.
The bulls are expected to protect the $166 20-day EMA. In the case that the price end up bouncing off either $173.841 support level or $166 20-day EMA, the bulls will attempt for $197.75 move up.
XRP Struggles to Sustain Above the $0.2326 Level
There’s a lack of XRP buyers at higher levels which resulted to struggle in sustaining above the $0.2326 level. However, the cryto found support levels at $0.2326 and inverted head and shoulder patterns’ neckline.
In the case that the price of XRP end up to rebounding the support zone, then the bulls will set an attempt to settle above the $0.25401 resistance level. Then, the crypto will rally towards $0.31503.
BCH’ Impressive Bullish Run
The bulls rejoice as they overcome the resistance levels of $320 and $360. However, they need to overcome the $400 resistance. Above that level, the bulls will attempt to push a rally towards $520.
On the other hand, in the case that the bears sink the Bitcoin Cash (BCH) price under the $20-day EMA, it will result to $306.78 drop. If that scenario happened, people in the crypto space can expect for correction in the next few days.
BSV’s Bullish Momentum
On January 10, Bitcoin SV overcome the resistance level of $120 and rallied towards the $440 level. However, after the overwhelming $440 selling pressure, the price of the crypto dropped at $240.
Today, BSV successfully fluctuate between the levels of $$240 and $320 following the downward consolidation.
LTC Breaks the Resistance Level of $50
Litecoin recently overcome the $50 resistance level. On the other hand, the price was resisted at $60. Before it regained the upward move, LTC collapses at $50 support level.
In the case that the bulls successfully break the $70 level, then LTC will rally above the $180 zone. After that, the crypto is then out of the downtrend region.