Bitcoin, Ethereum, Ripple All Survived An Attack, Will They Rise?

After a few days of low volatility in crypto markets, a sudden drop was seen earlier, with quick multi-percentage drops. It did not last too long though. It seems that weak hands were shaken off of their assets and buyers jumped in to scoop crypto coins at bargain prices.

This bear revolt, coming amid a cold spell in large parts of the US and Europe, was rejected. But are bulls up to the task of pushing the markets higher?

Some cryptocurrencies have better prospects than others.

(Click on image to enlarge)

Bitcoin Ripple Ethereum January 22 2019 technical levels

BTC/USD recaptured support and looks to the higher ground

Bitcoin,quickly managed to recapture the critical $3,545 level which is a dense cluster including the Simple Moving Average 5-4h, the SMA 200-15m, the SMA 50-1h, the SMA 50-15 minutes, the Fibonacci 23.6% one-week, the Bollinger Band 1h-Middle, the SMA 10-1h, the MSA 10-4h, the Fibonacci 61.8% one-day, and more.

The move above this level represents a clear rejection of the bear attack and provides hope for the bulls.

The next upside target is $3,730 is the convergence of the SMA 50-one-day, the Pivot Point one-week Resistance 1, and the BB one-day Middle.

The next target for BTC/USD is $3,842 where we see the meeting point of the PP one-week R2 and the Fibonacci 61.8% one-month.

If the aforementioned strong support is lost, the granddaddy of cryptos has significant support only at $3,137 where the PP one-month S1 and last week’s low converge.

ETH/USD has support, but also resistance

Ethereum recaptured the $117 level after a scare sent it below that line. The area includes the SMA 10-1h, the SMA 50-15m, the BB 1h-Middle, the SMA 100-15m, the BB 15 minute Middle, the SMA 5-1h, the SMA 10-4h, the SMA 200-15m, the SMA 50-1h, and the Fibonacci 61.8% one-day.

The first upside target is $122 which is where the PP 1d-R2, the SMA 10-1d, the SMA 200-1h, and the SMA 50-4h converge.

Further above, $126 is a tough line where we see the Fibonacci 61.8% one-week and the PP one-day Resistance 3.

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