Market Analysis 1/26: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, BCH Price Forecasts
Market participants maintain their positions at critical support zones for Bitcoin and alternative cryptocurrencies, though resistance at upper trading ranges and deteriorating market sentiment could hinder a swift rebound.
Main highlights:
- Bitcoin is working toward a rebound, but elevated price levels are expected to encounter substantial selling pressure from bearish traders.
- Multiple prominent altcoins face the danger of falling beneath their critical support zones.
Bitcoin (BTC) rebounded from the $86,000 price point, yet bullish traders are finding it difficult to maintain momentum at elevated levels. This pattern demonstrates that market participants are selling during upward movements.
While market analysts remain split regarding BTC's short-term trajectory, Binance co-founder Changpeng Zhao expressed in a CNBC interview that BTC might experience a super cycle over the coming 12 months.
On the other hand, Bloomberg Intelligence strategist Mike McGlone stated in a Cointelegraph interview that BTC has established a long-term peak. He further mentioned that while he's uncertain about the bottom's location, he indicated "it is going to be like a low-price cure."
Nevertheless, multiple institutional market participants hold a contrasting perspective as they consider BTC to be underpriced within the $85,000 to $95,000 range. In its Charting Crypto Q1 2026 report, Coinbase revealed that 80% of institutional investors surveyed intend to either maintain their current positions or increase their crypto holdings if prices drop another 10%.
Will BTC and the leading altcoins successfully maintain their support zones? Let's examine the technical charts of the top 10 cryptocurrencies for insights.
S&P 500 Index price forecast
The S&P 500 Index (SPX) experienced a strong recovery from the 50-day simple moving average (6,840) on Tuesday, demonstrating that market participants are purchasing during price dips.
The 20-day exponential moving average (6,904) is beginning to flatten, while the relative strength index (RSI) remains slightly above the neutral zone, suggesting a weakening in bullish momentum. For bulls to initiate the subsequent upward movement toward 7,290, they must drive the price beyond the 7,000 threshold.
Bearish traders are expected to pursue alternative strategies. Their goal will be to force the price beneath the 50-day SMA, which would trigger a more substantial correction moving toward 6,720.
US Dollar Index price forecast
The US Dollar Index (DXY) dropped beneath the moving averages on Tuesday and subsequently fell below the 97.74 support level on Friday.
Bearish traders will work to drive the price down to the robust support zone at 96.21, representing a crucial level that demands attention. Should this support level fail, the index could continue its downward trend heading toward the 94.62 mark.
Bullish traders face considerable challenges ahead. To maintain the index's range-bound behavior between 96.21 and 100.54 for an extended period, they must push the price beyond the moving averages.
Bitcoin price forecast
BTC reversed direction from the 20-day EMA ($90,521) on Friday and dropped beneath the uptrend line on Sunday.
The 20-day EMA is beginning its downward trajectory, while the RSI has entered the negative territory, indicating that bears hold the advantage. Any rebound effort is anticipated to encounter selling pressure at the moving averages. Should the price reverse downward from the moving averages, the BTC/USDT pair could decline to $84,000 before potentially reaching $80,600.
This bearish outlook will be negated in the short term should the Bitcoin price recover and surpass the moving averages. In that scenario, the pair could rally to the $97,924 overhead resistance level.
Ether price forecast
Ether's (ETH) symmetrical triangle formation broke to the downside when the price fell below the support line on Sunday.
Bullish traders will work to return the Ether price inside the triangle formation, though they should anticipate substantial resistance from bearish participants. If the price sharply reverses downward from the moving averages, the probability of a decline to $2,623 becomes more likely.
Bulls must rapidly push the price back above the moving averages to indicate that the breakdown beneath the triangle might have been a bear trap. Should this occur, the ETH/USDT pair could advance to the resistance line of the triangle pattern.
XRP price forecast
XRP (XRP) has been steadily declining within the descending channel formation, indicating that bearish traders maintain dominance.
Support exists at the $1.81 level, though any relief rally will probably encounter selling pressure at the 20-day EMA ($1.97). Should the price turn sharply downward from the 20-day EMA, the XRP/USDT pair might fall to the strong support zone at $1.61.
Alternatively, if the XRP price advances beyond the moving averages, the recovery could extend to the downtrend line. A closing price above the downtrend line would suggest a possible trend reversal in the near term.
BNB price forecast
BNB (BNB) finished below the 50-day SMA ($883) on Sunday, suggesting that bullish traders are weakening their hold.
The bounce from the uptrend line will likely face selling activity at the 20-day EMA ($896). If the BNB price reverses downward from the 20-day EMA, this heightens the likelihood of a drop to the $790 support zone. Bullish traders must defend the $790 level aggressively, since a close beneath it might restart the downward trend.
The initial indication of strength would be a closing price above the moving averages. Following this, the BNB/USDT pair could climb to the $959 overhead resistance level.
Solana price forecast
Solana (SOL) recovered from the $117 support zone on Monday, demonstrating that bullish traders are protecting this level.
The relief rally will probably encounter selling activity at the 20-day EMA ($131). Should the price turn sharply downward from the 20-day EMA, the danger of a breakdown below the $117 level intensifies. The SOL/USDT pair could then decline toward the solid support at $95.
In contrast to this scenario, if the Solana price rises and breaks beyond the moving averages, it would indicate that the pair might continue trading within the $117 to $147 range for additional time.
Dogecoin price forecast
Bullish traders are working to keep Dogecoin (DOGE) above the $0.12 price point, though bearish participants continue applying pressure.
Should the $0.12 support level break, the DOGE/USDT pair could begin the subsequent phase of its downward movement to the Oct. 10, 2025, low of $0.10.
In the event the price bounces from the present level, bearish traders will work to stop the recovery at the moving averages. If this scenario plays out, the likelihood of a breakdown below the $0.12 level grows stronger. For bullish traders to keep the pair confined within the $0.12 to $0.16 range, they must propel the Dogecoin price beyond the moving averages.
Cardano price forecast
Cardano (ADA) has reversed upward from the $0.33 support level, representing a crucial near-term level requiring attention.
Bullish traders must quickly drive the Cardano price beyond the downtrend line to demonstrate strength. The ADA/USDT pair could then advance to the breakdown level of $0.50, which is anticipated to present a formidable challenge to bullish participants.
Bearish traders will work to stop the recovery at the downtrend line. Should the price reverse downward from the overhead resistance, bears will once more attempt to pull the pair beneath $0.33. If successful, the subsequent target will likely be the support line of the descending channel formation, positioned near the Oct. 10, 2025, low of $0.27.
Bitcoin Cash price forecast
Bitcoin Cash (BCH) reversed sharply downward from the 20-day EMA ($596) on Sunday, though a small positive factor is that bullish traders maintained the $563 level.
The declining 20-day EMA along with the RSI positioned in negative territory indicates that bearish traders will once more attempt to push the Bitcoin Cash price beneath the $563 support level. Should they accomplish this, the BCH/USDT pair will finalize a bearish head-and-shoulders formation. The pair could then drop to $518.
Conversely, should bullish traders push the price beyond the moving averages, the pair might rally to $631. Bearish traders are anticipated to vigorously defend the zone ranging between $631 and $670.