Daily Technical Analysis BTC & ETH — 14th Jan 2022

In order to support you and the crypto community with trading decisions, WenX is serving you with Daily Technical Analysis updates on BTC & ETH.

Bitcoin extended increase above the $44,000 level against the US Dollar. BTC is correcting losses, but it might find support near the $42,000 support zone.

Bitcoin climbed further higher above $44,000 before it faced sellers. The price is trading near $42,750 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $43,250 on the hourly chart of the BTC/USD pair. The pair is correcting gains, but dips could be limited below the $42,000 level.

The next major resistance is near the $43,200 level. A clear move above the $43,200 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,400 resistance zone. The next major resistance is near the $45,500 level, where the bears might appear.

If bitcoin fails to start a fresh increase above $43,200, it could continue to move down. An immediate support on the downside is near the $42,500 zone. The first major support is seen near the $42,000 zone.

The 50% Fib retracement level of the key increase from the $39,660 swing low to $44,420 high is also near the $42,000 level. A downside break below the $42,000 support zone could lead the price towards the $41,500 level. Any more losses might push the price towards the $40,500 support zone in the coming sessions.

Ethereum gained pace above the $3,250 zone against the US Dollar. ETH price is correcting gains from $3,400, but dips might be limited in the near term.

Ethereum started a strong increase above the $3,250 resistance zone. The price is trading above $3,250 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $3,300 on the hourly chart of ETH/USDT. The pair could continue to rise if there is a clear break above the $3,380 resistance zone.

A clear move above the $3,380 level might start another increase in the near term. The next major resistance is near the $3,420 level, above which ether price could test $3,500. Any more gains could send the price towards the $3,550 level in the near term.

If Ethereum fails to start a fresh increase above the $3,380 level, it could start a downside correction. An initial support on the downside is near the $3,320 level. The first key support is now forming near the $3,300 level.

It is near the 50% Fib retracement level of the recent upward move from the $3,206 swing low to $3,412 high. A downside break below the $3,300 level push the price towards the trend line support. Any more losses could lead the price towards $3,200.

Thanks for reading!

Feel free to share your thoughts, feedback, and suggestions in the comments below. If you like this article share it on social media and to your friends! Follow us and stay tuned for daily updates!

Risk Disclaimer: Digital Asset Trading can be a challenging and potentially profitable opportunity for investors. Users are strongly encouraged to carefully consider their investment objectives, level of experience, and risk appetite.

Follow us:

Instagram: https://www.instagram.com/wenxpro_official/

Twitter:https://twitter.com/OfficialWenx

Facebook:https://www.facebook.com/WenXPro

Telegram:https://t.me/WenXpro

Medium:https://medium.com/wenxofficial

--

--

--

Wenxpro.com is a world-leading digital assets trading platform. Secure, Comprehensive, Creative, Sincere.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Why Are Women Slowly Leaning On To Crypto Trade?

Dollarization Due to Cryptocurrencies

My Two Favorite Crypto Investments Right Now

Shiba Inu & Cardano Becomes The Longest Holded Altcoins!

Everyday Life on Crypto — 3 Stories

Coin Voice and Binance Live transcript — Sustainability and Innovation in Gamefi

Top 4 Crypto Events To Keep An Eye On! — Issue #3

Trilemma of existing blockchains and disadvantages of the existing consensus algorithm

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
WenX Official

WenX Official

Wenxpro.com is a world-leading digital assets trading platform. Secure, Comprehensive, Creative, Sincere.

More from Medium

Daily Technical Analysis BTC & ETH — 20th Jan 2022

Despite the bearish sentiment, there are still ways to make quick gains with IDOs

Why to consider M-coin as an investment and the use cases of M-coin as a Crypto Token

M-coin as an investment and the use cases of M-coin as a Crypto Token

Recap of Moonbet Monday— January 24