Monday, January 17, 2022
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Bitcoin Hits ATH, Ethereum Corrects Lower

Before correcting lower, Bitcoin traded to a new all-time high around USD 58,641 and Ethereum is trading below USD 1,900.

The price of Bitcoin kept rising and continued its surge above USD 58,000. Before beginning a downside correction, BTC also traded to another all-time high around USD 58,641. It is currently selling below USD 56,000, with main support at USD 55,000 and USD 52,000. However, ETH/USD struggled to go past USD 1,950 and fell to USD 1,820.

There were further gains over the USD 57,000 mark in the bitcoin price. The USD 58,000 mark was also cleared by BTC and traded to another all-time high around USD 58,641. However, towards USD 60,000, it struggled to continue higher and recently corrected lower.

A break has occurred below the support levels of USD 57,000 and USD 56,200. The next significant support is close to USD 55,000. The bears will test the weekly support at USD 52,000 if there are further downsides. On the upside, this week’s main hurdle could be USD 60,000.

According to, the price of Ethereum failed to stabilize above USD 2,000 and began a fresh drop. ETH broke the support levels of USD 1,950 and USD 1,900. The USD 1,850 support is now being tested. There may be a decline to the USD 1,760 and USD 1,750 support rates if the bears stay in action.

The USD 1,950 level is a crucial pivot point. On the upside, the key resistance is still close to the USD 2,000 mark.

This past week, Binance Coin jumped over 100% and also broke the USD 300 mark. BNB turned USDT into the third-largest crypt. Gains and trading below USD 300 are now being corrected. The initial support is near the USD 255 mark, below which USD 220 could be tested by the price.

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