January 24 – Latest News, Breaking News, Top News Headlines

XRP has formed a short-term bullish reversal pattern but has yet to confirm an upward movement. VeChain failed to retrieve the channel he was trading in, and a release to the upper level opened the door to a possible fall. Ethereum Classic showed short-term sellers’ strength, but defended a support level well.

XRP

Source: XRP / USD on TradingView

XRP formed a decreasing widening wedge as it fell to test $ 0.25 support and rebounded to $ 0.275, where it was trading at the time of writing. This model generally sees the volume of transactions increase, but this has not been the case here, as the volume of transactions has actually decreased.

The $ 0.28 region can be expected to serve as resistance to XRP in the short term. The hour-long chart showed the RSI rising above the neutral 50 – which is not yet a bullish move as the price needs to break above the $ 0.28 mark first and make a steady streak. higher troughs.

The wedge pattern typically sees the price hitting the peak from which the price starts to descend – therefore an upward movement will target the $ 0.3-0.31 for XRP.

VeChain [VET]

Source: EFP / USDT on TradingView

VeChain moved below the ascending channel and retested the vicinity of the lower bound as resistance. Price was unable to move back into the channel (cyan) and appeared to trade sideways within the limits of $ 0.0296 to $ 0.0321 (white).

The Awesome Oscillator showed neutral momentum behind VET, while trade volume was also low.

A move outside the side channel will likely decide the next direction for the VET, with support at $ 0.0268 and resistance at the lower bound of the ascending channel.

Ethereum classic [ETC]

Source: ETC / USDT on TradingView

ETC saw a candlewick touch the $ 6.6 level but did not close the trading session below the $ 7 support level. This buyer’s defense provided short-term bullish momentum as the ETC rose to $ 7.64 – the MACD saw a bullish cross and was poised to climb above the zero line.

The $ 7.9 to $ 8 region has rejected ETC bulls several times over the past two weeks, ETC bulls need to switch this region to a demand region in order to recover to the highs of 9, $ 5 reached earlier this month.

To congratulate you we are going to offer you our free method of investing in cryptocurrencies simply and automatically with the objective of generating regular income while protecting your capital as much as possible.