The total market capitalization of the crypto space rallied from about $184 billion on January. 3 to a loftier of $250 billion on Jan. 19. That is a 35% gain within a short span of time. Unremarkably, fast-paced rallies do non last long, hence, for the long-term health of the markets, it is better to have rallies with intermittent corrections.

Bitcoin has been following the Stock-to-Flow model fairly accurately. The model'south creator, an annotator known as PlanB, believes that the price of Bitcoin is probable to average around $8,200 until the halving effect in May of this year. Thereafter, the model projects the price to shoot up to nearly $100,000 inside two years. While the target is extremely bullish, but time volition tell whether Bitcoin reaches there or not.

Daily cryptocurrency market performance

Daily cryptocurrency market place performance. Source: Coin360

Australian micro-investment startup Raiz has received clearance from the Australian Securities and Investment Commission, the country's financial watchdog agency, to offer Bitcoin fund services to its users. The proposed Bitcoin retail fund is probable to launch in the showtime half of this year and information technology will accept v% exposure to Bitcoin directly, with the rest existence invested in exchange traded funds. Though the crypto portion is pocket-sized, we similar the way, the regulators are gradually opening up to Bitcoin.

The crypto markets have currently entered a cosmetic stage. Let'south wait at the disquisitional levels to watch on the downside that can provide back up.

BTC/USD

The bulls scaled above the 200-twenty-four hour period SMA at $nine,036 on January. 19 but could not hold on to the gains. The price quickly turned down and Bitcoin (BTC) formed an outside solar day candlestick pattern, which suggests that bears are active at college levels.

BTC USD daily chart. Source: Tradingview

The price can at present dip to the 20-mean solar day EMA at $8,247, which is likely to act equally a strong support. The upsloping twenty-twenty-four hours EMA and the RSI in the positive territory advise that bulls are in command.

If the price bounces off sharply from the 20-day EMA, the bulls will again attempt to carry the BTC/USD pair above the 200-day SMA. If successful, a rally to $x,360.89 will be on the cards.

Contrary to our assumption, if the bears sink the price below the 20-mean solar day EMA, a drib to $7,856.76 is possible. This is an important level to spotter out for because if it breaks downwards, the next back up is at $vii,000. For now, the traders can retain the cease loss on their long positions at $7,600.

ETH/USD

Ether (ETH) broke higher up the overhead resistance at $173.841 on January. 18 and 19 but could not scale above the 200-day SMA at $182. This shows that the bears are aggressively defending the 200-twenty-four hours SMA.

ETH USD daily chart. Source: Tradingview

The price turned downward sharply on January. xix but constitute support closer to $157.50. This shows that bulls are using the dips to accumulate.

With buyers emerging close to $157.l and sellers near the 200-twenty-four hours SMA, the possibility of a range-jump activity for the next few days increases. A break above the 200-twenty-four hours SMA tin carry the ETH/USD pair to $197.75 while a break below $157.50 can sink the toll to the xx-day EMA at $153.

The pair volition turn negative on a pause beneath $151.829. Therefore, traders can retain the cease loss on the remaining long positions at $150.

XRP/USD

XRP could not option upwardly momentum after breaking out of the neckline of the inverted head and shoulders (H&S) pattern. The altcoin turned down from $0.25401, which shows a lack of demand at higher levels.

XRP USD daily chart. Source: Tradingview

The XRP/USD pair has bounced off the neckline of the bullish setup, which suggests that bulls are using the dips to accumulate. The 20-twenty-four hours EMA is placed just below the neckline, hence, this level is likely to act as a strong support. If the bulls can carry the price higher up the 200-day SMA, a move to $0.31503 is possible.

Conversely, if the bears sink the price below the 20-day EMA, a drop to $0.20041 is possible. For at present, the traders tin can go along the stop loss on the long positions at $0.1995.

BCH/USD

Bitcoin Cash (BCH) rallied above the overhead resistance at $360 on January. 17. The bulls once more pushed the toll higher on Jan. eighteen but could not achieve our target objective of $423.xl. The price turned down from $403.88.

BCH USD daily chart. Source: Tradingview

The reversal on January. 18 dragged the price back below $360, which shows aggressive selling at college levels. Currently, the cost is stuck between $306.78 and $360.

If the bulls can push the price back above $360 a retest of $403.88 and to a higher place it $423.twoscore is possible. On the other hand, a break below $306.78 can drag the price to $270.15.

In our previous analysis, we had suggested traders trail the stops on the remaining long positions higher after the price broke above $360. We conceptualize the abaft stops have been hit. The traders can expect for a new purchase setup to course before initiating long positions once more.

BSV/USD

Bitcoin SV (BSV) dipped below $255.62 on January. 18 but found support at $236, which is just above the 61.8% Fibonacci retracement level of the rally from $77.203 to $458.74. The bulls are currently attempting to resume the up move.

BSV USD daily nautical chart. Source: Tradingview

We anticipate the BSV/USD pair to hit a roadblock close to $335. If the price turns downward from this level, the pair is probable to consolidate for a few days before making its next directional move.

Our view will exist invalidated if the cost turns down from the current levels or the overhead resistance and dips below the twenty-day EMA at $214. As we look a range-bound action for the adjacent few days, we advise traders remain on the sidelines.

LTC/USD

Though Litecoin (LTC) rose above $60 on January. 17, xviii and 19, the bulls could not scale above the 200-solar day SMA and reach $66.2486. This shows that the bears are aggressively defending the 200-day SMA.

LTC USD daily chart. Source: Tradingview

The price tin can now dip to the twenty-mean solar day EMA, which is likely to human action equally a stiff support. A strong bounce off the 20-day EMA tin carry the price to the 200-day SMA once again. If the bulls can scale higher up the 200-twenty-four hours SMA and $66.1486, a move to $80.2731 will be on the cards.

Our view will be invalidated if the bears sink the LTC/USD pair below the 20-day EMA and the support at $50. A break below $50 will exist a huge negative.

EOS/USD

EOS turned down from $4.0623 on Jan. 17 but institute support at the 200-day SMA at $3.42 on Jan. nineteen. This is a positive sign as information technology shows that bulls are ownership on dips. The bulls are currently attempting to resume the up move.

EOS USD daily chart. Source: Tradingview

If the bulls tin can build up on the electric current bounce, we expect another attempt to calibration above $4.24. If successful, a move to $four.8710 volition exist on the cards.

On the other manus, if the rebound attempt fizzles out, the EOS/USD pair can dip to the 200-day SMA once once again. Below this level, a drop to $three is possible. Therefore, the traders tin retain their stops on the remaining long positions at $3.4.

BNB/USD

Binance Money (BNB) is currently range-spring between $sixteen.50 and $18.fifty. The bears defended the $18.50 levels aggressively between Jan. 17 and nineteen. Later, the bulls purchased the dip to the stiff support at $16.l on Jan. 19.

BNB USD daily nautical chart. Source: Tradingview

This suggests that the price might consolidate between $16.50 and $18.50 for a few more than days. A suspension in a higher place $eighteen.50 can carry the toll to the 200-day SMA and higher up it to $21.80.

On the other mitt, a break below $xvi.50 and the 20-day EMA at $fifteen.94 tin sink the price to $14.5201. Therefore, traders can keep the end loss on the long positions at $15.90.

XLM/USD

Stellar Lumens (XLM) has once again constitute a identify in the top 10 list. For the past two days, the bulls failed in their attempts to push the price above the 200-24-hour interval SMA. Still, the positive thing is that the altcoin has not given upward much basis, which shows buying on dips.

XLM USD daily chart. Source: Tradingview

If the bulls tin can propel the toll in a higher place the 200-day SMA, the XLM/USD pair is likely to extend its up motility to $0.088708. The traders who had purchased on our earlier recommendation tin go along the stops on their long positions at $0.056.

If the bulls fail to push the price higher up the 200-day SMA, the bears will endeavor to sink the price to the 20-twenty-four hour period EMA, which is likely to act as a strong support. The pair will turn negative on a intermission below $0.051014.

ADA/USD

Cardano (ADA) is the other new aspirant in the listing. The bears are aggressively defending the overhead resistance at $0.0461161. The 200-day SMA is also placed just below this level, hence, this is an important level to lookout out for. If the bulls can scale the price above $0.0461161, the altcoin is likely to pick up momentum.

ADA USD daily chart. Source: Tradingview

On a intermission above $0.0461161, the ADA/USD pair tin can rally to $0.0560221. With the 20-solar day EMA sloping up and the RSI in positive territory, the reward is with the bulls. The traders can look for the price to shut (UTC time) higher up $0.0461161 before initiating long positions. The initial stop loss tin can be placed just below the 20-24-hour interval EMA at $0.039.

Our bullish view will be invalidated if the toll turns down from the current levels or the overhead resistance and breaks below the 20-day EMA.

The views and opinions expressed here are solely those of the author and exercise non necessarily reflect the views of Cointelegraph. Every investment and trading motion involves run a risk. You should behave your own inquiry when making a decision.

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