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Price analysis 1/27: BTC, ETH, DOT, XRP, ADA, LINK, LTC, BCH, BNB, XLM

Published 01/27/2021, 01:40 PM
Updated 01/27/2021, 03:40 PM
Price analysis 1/27: BTC, ETH, DOT, XRP, ADA, LINK, LTC, BCH, BNB, XLM

Price analysis 1/27: BTC, ETH, DOT, XRP, ADA, LINK, LTC, BCH, BNB, XLM

Public companies have purchased about 85,000 Bitcoin (BTC) in the past year and institutional investors have pumped money into Grayscale Investments, which shows increasing institutional adoption is one of the main reasons for the recent Bitcoin rally.

However, at the moment it seems institutional investors are unlikely to chase prices higher. If the fresh inflow of money stalls or reduces drastically, it could result in a pullback in Bitcoin’s price. If that happens, short-term traders and momentum players may book profits and trigger a deeper correction.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView
BCH/USD daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XLM/USDT daily chart. Source: TradingView

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Latest comments

BTC chart shows a flag with huge potential looking to hit the head again
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