Price Prediction 1/6: BTC, ETH, BNB, XRP, SOL, DOGE, ADA

XRP had a massive surge during the previous intraday session, sealing a good start to the week. It broke above its 40-day high on Monday and is trading even higher at the time of writing.

The asset broke out last week and has maintained its upward movement for the past five days. However, XRP is off to a bad start on Tuesday, raising questions about the end of the uptrend.

The concerns are not limited to the highlighted altcoin, as the global cryptocurrency market cap would show. The sector is printing a doji for the first time after 5 days of consecutive greens. Additionally, the 1-day chart shows a slight correction a few hours ago, followed by a rebound.

The latest market trend may indicate growing buyer exhaustion, which could worsen in the coming days. However, indicators on the 1-day chart are still positive, but it’s not the same on the 4-hour chart. RSI broke above 70 on Saturday and has since trended above it.

With regards to fundamentals, there are no strong ones that could trigger a massive buyback on Tuesday. The market-moving news is scheduled for Wednesday and Thursday. The absence of strong fundamentals increases the likelihood that the market will revert to its bearish Tuesday trend. Let’s see how assets in the top 10 will react.

BTC/USD

Bitcoin is printing its first red candle of the week. The 1-day chart shows that it grappled with slight corrections on Monday, when it broke above $94k. Although it gained almost 3%, it failed to break above $95k, indicating that selling pressure remained strong at the mark amid significant buying.

The asset experienced rejections at $94k in the early hours of Tuesday, resulting in slight corrections. BTC is currently struggling to hold $93k at the time of writing, and the 4-hour chart suggests a slim chance it would hold.

The moving average convergence divergence prints sell signals at the time of writing. Its 12 EMA is currently declining, closing the gap with the 26 EMA. If the downtrend continues, a negative crossover is inevitable.

The readings from MACD align with those from the bollinger bands. BB shows several instances where BTC has broken above the upper band, indicating a correction is due. The asset may drop to $91k if the downtrend continues.

ETH/USD

ETH is trading at $3,235 at the time of writing, slightly higher than its opening price. Nonetheless, it is yet to break above the sell wall at $3,260. The candlestick representing Tuesday’s price action is a doji, indicating waning upward momentum.

Nonetheless, the latest candle on the 4-hour chart is green, suggesting growing buying pressure. However, the bollinger bands on ths scale hint at significant selling pressure ahead. The asset has trended near the upper band since Friday and has yet to experience a substantial correction, suggesting the decline will occur soon.

It may start on Tuesday as the market slows down. Investors’ sentiment has since shifted bearish as some take profit. In the event ETH plummets, there is a slight demand concentration at $3,120. Failure to defend the mark could send the asset to $3,000.

BNB/USD

The 4-hour chart shows that BNB saw significant buying pressure in the session starting at 8:00 UTC. It ended its downtrend during this period with a slight uptick. However, the 1-day chart shows that the asset is grappling with minor selling pressure near the previous day’s high.

Nonetheless, indicators on the smaller timeframe suggest an impending decline. For example, MACD shows the 12 EMA and 26 EMA closing in on each other. If the current uptick persists, the metrics will continue upwards.

However, a negative crossover is almost inevitable and will take place this week. Recent price action points to a decline in buying pressure, suggesting the recent increase will be short-lived and that a further correction will occur within the next two days.

XRP/USD

XRP shed over 2% during the session that started at 4:00 UTC, the highest loss on the 4-hour chart over the last seven days. However, it recovered during the next session, erasing almost all losses.

XRP is printing a red candle after slight rejections at $2.40, indicating that it’s struggling to continue the uptrend at the time of writing. The bollinger bands hint at further decline as the asset previously broke above the upper band, suggesting that the downtrend may worsen in the coming days.

Nonetheless, the altcoin has been trading above $2.30 since the start of the day. Losing it will signal a possible drop to $2.10.

SOL/USD

The 1-day chart shows that SOL is trading above the bollinger bands at the time of writing, marking its second day above the metric.

Nonetheless, on the 4-hour chart, the asset broke above the indicator but is back below the upper band. However, a closer look at the chart reveals that Solana is struggling to decisively flip the $140 barrier.

Its latest attempt resulted in rejections, and prices are now declining. If the bulls fail to stage buybacks, the asset may plummet to $133, the next level with notable demand concentration.

DOGE/USD

DOGE is trading above the bollinger bands on the 1-day chart, suggesting that the uptrend is due for reversal. The candle representing the current day indicates waning upward momentum, which may progress into further decline.

The 4-hour aligns with this prediction as Dogecoin struggles to break above its previous day’s high. Nonetheless, it is trading above the middle band, but the bollinger bands hint at a possible decline to the lower band in the coming days. If that happens, DOGE will drop to $0.14.

A closer look at MACD suggests a higher likelihood of a decline, as the indicator displayed a bearish crossover a few hours ago.

ADA/USD

ADA is currently struggling to continue its uptrend after breaking above the bollinger bands on the 4-hour chart. The breakout happened late on Monday and extended into Tuesday. However, the asset shed over 2% shortly after.

As with XRP, the MACD is currently negative. The 12 EMA and 26 EMA are closing in on each other. If the current uptick persists, the metrics will continue upwards. Nonetheless, a negative crossover is almost inevitable and will take place this week.

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