Bitcoin (BTC) price surged past $93,000 on Monday, January 5, 2026, marking the fifth consecutive session of gains across major cryptocurrencies. Ethereum climbed to $3,162, XRP tested $2.14, and Dogecoin rallied following a breakout from its bearish channel.
The total crypto market capitalization climbed above $3.01 trillion, driven by stronger investor sentiment, slowing ETF outflows, and renewed interest from institutional players. This early-2026 momentum shows a stark reversal from the disappointing fourth-quarter performance that saw excessive leverage unwound and sentiment reset.
Why are cryptocurrencies rising today? What are the latest price forecasts, and what does technical analysis show for the BTC/USDT, XRP/USDT, ETH/USDT, and DOGE/USDT charts? This article takes a closer look.
Why Crypto Is Going Up Today?
Year-Ahead Positioning Drives Rally
"Cryptocurrency markets are in the green as investors add digital gold to their portfolios amid positioning for the year ahead," explains Petr Kozyakov, Co-Founder and CEO at Mercuryo. The payment infrastructure leader notes that Bitcoin's push past $92,000 has led the market higher alongside gains in Ethereum and Solana.
Kozyakov highlights a notable shift in market dynamics: "A shift in mood across the digital token space has been underlined by a resurgence in interest in the meme coin sector, with Shiba Inu and Pepe making a loud entry to 2026." Beyond meme coin speculation, the cryptocurrency industry is experiencing a broader transformation as market structure reform and legislative architecture take precedence over pure price action, with stablecoin capitalization hitting $312.63 billion in December 2025.
Despite the severe drop in sentiment during the final months of 2025, he emphasizes that "fundamentals in the sector remain strong as the underlying infrastructure evolves with assets such as stablecoins continuing to attract increasing levels of liquidity."
Joel Kruger, crypto strategist at LMAX, provides important context for the recovery. "The crypto market delivered an undeniably disappointing fourth-quarter performance," he acknowledges, noting frustration given that Bitcoin and ETH had already reached fresh record highs earlier in 2025 alongside significant regulatory and adoption progress.
However, Kruger views the pullback constructively: "The weaker headline performance can also be viewed as a healthy reset. The pullback helped unwind overleveraged positions and clear excess froth, a necessary process that often improves market structure and supports more sustainable upside over time."
It’s also certainly relevant what’s happening in Venezuela and Donald Trump’s “war on oil.” But what do the charts say?
Bitcoin Price Tests Critical $93,000 Resistance
Bitcoin briefly touched $93,000 on Monday, with Yahoo Finance data showing an intraday high of $93,155 and closing at $92,798. The world's largest cryptocurrency is trading at its highest level in nearly one month, up over 2% in the last 24 hours. However, my technical analysis reveals Bitcoin remains trapped in a nearly two-month consolidation between $84,000 and $94,000.
Why Bitcoin price is going up today? Source: Tradingview.com
Key Bitcoin Technical Levels
Support Zones | Resistance Zones |
$88,000 (major downside invalidation) | $94,800-$95,500 (descending trendline) |
$90,000-$92,000 | $100,000 (200 EMA, bull confirmation) |
$84,000-$87,000 (consolidation floor) | $103,000 (trend separator) |
$74,000 (bear target, 161.8% Fibo) | $126,000 (October ATH) |
The price action shows Bitcoin testing the upper boundary of its range, defined by the 50-day moving average and 100% Fibonacci extension near $92,000-$94,000. On the daily chart, Bitcoin continues moving in an increasingly narrowing wedge pattern, with the lower boundary rising since mid-December from around $80,500.
"BTC has been respecting a descending trendline for weeks. Price recently tested this trendline near 94,800 and showed a reaction," observes Areeb Khan from Traders' Hub. He identifies several key technical observations:
Khan's Technical Breakdown:
- Long-term downtrend resistance still active
- Price holding above recent higher lows
- RSI near mid-zone (50) with room for expansion, no extreme yet
Khan provides specific levels to monitor: "Resistance: 94,800-95,500. Support: 92,000 going down to 90,000. Major downside invalidation below 88,000." He warns that "a clean breakout and hold above the trendline could shift short-term structure bullish. Rejection here keeps BTC in a range-to-bearish continuation setup."
Despite the bullish momentum, Bitcoin remains below its 200-day exponential moving average, which resides above $103,000 and represents the separator between uptrend and downtrend. My bearish scenario targets $74,000, representing 2025 yearly lows last tested in April and confirmed by the 161.8% Fibonacci extension.
If you like my work, please also check previous crypto analyses and follow me on X:
- Bitcoin Price Prediction: Why BTC Price Is Rallying and Forecasts for 2025-2030
- New Ethereum Price Prediction Targets $17K by 2026. Could ETH Gain as Much as 350%?
- XRP Price Prediction 2026: Can XRP Hit $8?
Ethereum Tests Key $3,200 Fibonacci Level
Ethereum (ETH) gained 0.7% on Monday to reach $3,168, with CoinGecko data showing current trading at $3,162. The second-largest cryptocurrency is testing its fifth consecutive rising session and three-week highs, breaking above its 50-day exponential moving average for the first time in nearly a month. Below is how I see it.
Why Ethereum price is going up today? Source: Tradingview.com
Ethereum's Technical Position:
- Current price: $3,168 (+0.7% Monday)
- Immediate resistance: $3,200 (50% Fibonacci retracement, early November lows)
- Major resistance zone: $3,350-$3,400 (untouched since correction began)
- Support range: $2,650-$2,800 (November-December lows, 61.8% Fibonacci)
- Death cross status: Active since late November (50 MA below 200 MA)
The price has stopped at local resistance around the 50% Fibonacci retracement level near $3,200, which coincides with resistance formed by local lows from early November. This represents a critical juncture, as Ethereum briefly traded close to $3,010 at the start of 2026 before accelerating higher.
However, medium-term technical factors remain bearish. Both moving averages formed a death cross pattern in late November, and the price continues moving below the 200-day EMA. The main resistance zone between $3,350 and $3,400 remains untouched, representing a formidable barrier for bulls.
Ethereum is consolidating between this upper resistance zone and support defined by November-December lows in the $2,650-$2,800 range, reinforced by the 61.8% Fibonacci retracement.
In a sideways movement, price can move both up and down, but the overall my chart structure suggesting continuation of declines targets June lows at $2,200 and ultimately 2025 yearly minimums around $1,400 last tested in April.
XRP Breaks Bearish Channel, Tests $2.14
XRP is trading at $2.14, marking its fifth consecutive rising session and the highest value since early December. The cryptocurrency gained over 2% during Monday's session, with intraday highs testing $2.16 before pulling back slightly.
Why XRP price is going up today? Source: Tradingview.com
The positive development for XRP is its breakout from the bearish regression channel drawn from July highs, which had been tested multiple times from both below and above. This dynamic breakout saw the price distance itself significantly from the channel, providing technical confirmation that selling pressure may be exhausting.
XRP Critical Levels for Breakout Confirmation
Level | Significance | Status |
$2.35 | 200 EMA (ultimate confirmation) | Not reached |
$2.20-$2.30 | Resistance zone (breakout confirmation) | Testing |
$2.14 | Current price | Fifth rising session |
$1.80-$1.83 | Consolidation support | Holding |
$1.61 | April minimums (bear target) | Risk level |
$1.25 | Extreme scenario |
However, caution is warranted. A similar breakout was observed in early October, but the price subsequently returned to the channel range. The ultimate confirmation of the breakout requires XRP to return above the resistance zone between $2.20 and $2.30, and most importantly above the 200 EMA at $2.35.
XRP remains in a trend structure similar to Bitcoin and Ethereum, moving below the 200 EMA (downtrend) and in a consolidation drawn since late November at medium-term lows.
Until the breakout is confirmed, the possibility remains of a return to the lower consolidation boundary with support at $1.80-$1.83.
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Dogecoin Rallies But Faces Resistance at $0.15
Dogecoin (DOGE) experienced four consecutive days of gains, testing the highest level since late November before pulling back 1.2% to $0.1477 at the time of writing.
The meme coin has stopped at the upper boundary of its current consolidation at the lowest levels since October 2024.
Why Dogecoin price is going up today? Source: Tradingview.com
Dogecoin Technical Structure:
- ✓ Broke bearish regression channel from October (positive development)
- ✓ Four consecutive rising sessions (momentum building)
- ✗ Death cross pattern intact (bearish structure)
- ✗ Large distance to 200 EMA (downtrend confirmed)
- ? Testing consolidation ceiling at $0.15 (decision point)
This resistance level coincides with the 50 EMA and minimums from June, April, and March 2025. The lower consolidation boundary is defined by lows from the turn of 2025/2026 around $0.11-$0.12.
The meme coin resurgence extends beyond Dogecoin. Market data shows renewed interest in Shiba Inu and Pepe, with the broader meme coin sector experiencing a retail-driven rally in early 2026 after languishing through much of 2025.
If current resistance at $0.15 holds, my favored scenario is a downward movement and retest of the $0.11 area, or even $0.10 representing 2025 yearly minimums from the October flash crash.
FAQ: Crypto Price Questions
Why is crypto going up today?
Crypto is surging due to year-ahead portfolio positioning, Q4 2025 sentiment reset completion (deleveraging and excess froth clearing), meme coin sector resurgence, strong fundamentals in infrastructure evolution, and stablecoin liquidity growth. Kozyakov from Mercuryo notes investors are adding "digital gold" to portfolios amid 2026 positioning. Bitcoin, Ethereum, XRP and Dogecoin all posted fifth consecutive rising sessions on January 5, 2026.
Why is Bitcoin surging for the fifth straight session?
Bitcoin tested $93,155 intraday, representing one-month highs, as traders positioned for 2026 amid improved sentiment. The rally tests critical resistance at $94,800-$95,000 where descending trendline and 50 MA converge, according to Areeb Khan from Traders' Hub. Joel Kruger identifies sustained hold above $95,000 as key technical signal for broader uptrend resumption toward record highs.
Why is Ethereum testing resistance at $3,200?
Ethereum's fifth rising session brought price to $3,168, testing 50% Fibonacci retracement at $3,200 after breaking above 50 EMA for first time in nearly a month. However, death cross remains active since late November, and major resistance zone at $3,350-$3,400 stays untouched.
Why is XRP price surging above $2?
XRP gained over 2% to test $2.16 intraday (fifth consecutive rising session), reaching highest levels since early December after breaking bearish regression channel from July highs. However, confirmation requires sustained move above $2.20-$2.30 resistance and 200 EMA at $2.35, as similar October breakout proved false.
Why is Dogecoin rallying after breakout?
Dogecoin broke bearish regression channel dynamically, testing $0.1477 at upper consolidation boundary representing late November highs. Mercuryo's Kozyakov notes meme coin sector experiencing resurgence with Shiba Inu and Pepe leading 2026 entry. However, resistance at $0.15 (50 EMA) remains untested with risk of return to $0.11-$0.12 support zone.
Is the crypto bear market over?
Technical analysis shows Bitcoin, Ethereum and XRP still in consolidation below 200 EMAs with death crosses active for Bitcoin and Ethereum since late November. Kruger from LMAX characterizes the Q4 pullback as a "healthy reset" that unwound overleveraged positions and improved market structure, but sustained breakouts above key resistance levels are needed for trend reversal confirmation.
