Cryptocurrency & Fx Market Analysis - 26th Jan

BTC

• BTC $34,000 is a crucial level to hold and if it fails to hold these level than the next level will be $ 24,000.

• FOMC meeting BTC will be volatile and will be high.

• Even after recovery of BTC to $ 37,500 Jan 25 after the market was in a state of indecision.

• The primary reason was uncertainty over the U.S. Federal Reserve’s plan to raise interest rates in the coming months which will be tentatively in March.

• BTC Upside potential for Bitcoin is likely limited to the $45,000 to $47,000 and downside to $ 33,000 to $ 24,000.

ETH

• The pair has provided a buying support between between $2,150 and $2,350.

• A close above $2,450 will be bullish and below will be bearish. Uptrend we can see the rally up to $ 4000. But bottom is seen at $ 2160 and $ 2000.

XRP

• XRP bulls can target $ 1.00 if the close is above $ 0.64 and below $ 0.50.

GOLD

• Gold holds its bullish territory around $ 1850.

• They have negated the fear of yield, FED rate hike, Ukraine-Russia geopolitical issues.

• Gold has maintained its position as safe heaven investments.

• A close above $ 1846 will have bulls target $1,877.

• The immediate support below $ 1846, around $1,843 and $1,830, and near $1,823.

EUR/USD

• The bears are in control ahead of FOMC and below 1.1300.

• Markets are reacting to pre-Fed anxiety, Russia-Ukraine tension and IMF’s growth forecasts.

• European Central Bank, rejects hawkish calls due to Omicron, adding to bearish bias.

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