Price predictions 1/26: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, BCH
Traders continue to defend the lowest support levels in Bitcoin and altcoins, but sellers at the range highs and declining sentiment across the market may complicate a quick recovery.
Bitcoin is attempting a recovery, but higher levels are likely to attract solid selling by the bears.
Bitcoin (BTC) bounced off the $86,000 level, but the bulls are struggling to sustain the higher levels. That shows selling on rallies.
Although analysts are divided about the near-term prospects of BTC, Binance co-founder Changpeng Zhao said in an interview with CNBC that BTC could witness a super cycle in the next 12 months.
In contrast, Bloomberg Intelligence strategist Mike McGlone said in an interview with Cointelegraph that BTC has put in a long-term top. He added that he doesn't know where the bottom is but said “it is going to be like a low-price cure.”
However, several institutional investors have a different opinion as they believe that BTC is undervalued between $85,000 and $95,000. Coinbase said in its Charting Crypto Q1 2026 report that 80% of the surveyed institutional investors plan to either hold or add to their crypto positions on another 10% fall.
Could BTC and the major altcoins hold on to their support levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
The S&P 500 Index (SPX) rebounded sharply off the 50-day simple moving average (6,840) on Tuesday, indicating buying on dips.
The 20-day exponential moving average (6,904) is flattening out, and the relative strength index (RSI) is just above the midpoint, indicating that the bullish momentum is weakening. Buyers will have to push the price above the 7,000 level to start the next leg of the uptrend toward 7,290.
Sellers are likely to have other plans. They will attempt to pull the price below the 50-day SMA, starting a deeper correction toward 6,720.
The US Dollar Index (DXY) slipped below the moving averages on Tuesday and the 97.74 support on Friday.
Sellers will attempt to yank the price to the solid support at 96.21, which is a critical level to watch out for. If the support gives way, the index may resume the downtrend toward the 94.62 level.
Buyers have an uphill task ahead of them. They will have to thrust the price above the moving averages to keep the index range-bound between 96.21 and 100.54 for a while longer.
BTC turned down from the 20-day EMA ($90,521) on Friday and plunged below the uptrend line on Sunday.
The 20-day EMA has started to turn down, and the RSI is in the negative zone, signaling advantage to bears. Any recovery attempt is expected to face selling at the moving averages. If the price turns down from the moving averages, the BTC/USDT pair may plunge to $84,000 and then to $80,600.
This negative view will be invalidated in the near term if the Bitcoin price turns up and breaks above the moving averages. The pair may surge to the $97,924 overhead resistance.
Ether’s (ETH) symmetrical triangle pattern resolved to the downside with a break below the support line on Sunday.
Buyers will attempt to push the Ether price back into the triangle, but are expected to face significant resistance from the bears. If the price turns down sharply from the moving averages, the likelihood of a drop to $2,623 increases.
The bulls will have to quickly push the price back above the moving averages to suggest that the break below the triangle may have been a bear trap. The ETH/USDT pair may surge to the resistance line of the triangle.
XRP (XRP) has been gradually falling inside the descending channel pattern, signaling that the bears remain in control.
There is support at $1.81, but the relief rally is likely to face selling at the 20-day EMA ($1.97). If the price turns down sharply from the 20-day EMA, the XRP/USDT pair may tumble to the solid support at $1.61.
On the contrary, if the XRP price breaks above the moving averages, the recovery may reach the downtrend line. A close above the downtrend line suggests a potential trend change in the near term.
BNB (BNB) closed below the 50-day SMA ($883) on Sunday, indicating that the bulls are losing their grip.
The rebound off the uptrend line is expected to face selling at the 20-day EMA ($896). If the BNB price turns down from the 20-day EMA, it increases the possibility of a drop to the $790 support. Buyers will have to defend the $790 level with all their might, as a close below it could resume the downtrend.
Asanat Analysis — Why it matters
This technical analysis snapshot captures a market in transition between competing narratives. Institutional buyers (Coinbase's survey showing 80% willing to add on a 10% dip) signal conviction at current levels, yet price action tells a different story—sellers controlling rallies, support levels under test, and declining sentiment. The divergence matters: when institutions publicly commit to accumulation while technicals deteriorate, it often precedes either capitulation lows or a grinding consolidation that frustrates both bears and bulls.
The dollar's weakness (DXY approaching 96.21 support) is notable context absent from the individual chart discussions. A sustained DXY breakdown historically coincides with risk-on sentiment that favors altcoins, yet most majors here are already showing downtrend structures (ETH's broken triangle, XRP's descending channel, BNB below the 50-day SMA). This suggests technical deterioration is not purely macro-driven—there's localized selling pressure independent of dollar strength, signaling sector-specific distribution rather than a coordinated capitulation.