Technical Analysis

On 29 January 2026, the U.S. Dollar Index moved toward the 96 area after breaking its long-term trend, a level historically linked to Bitcoin bull phases. Past dips below 96 in 2017 and 2020 preceded 7–8x BTC gains, while gold's daily RSI recently reached 91+, signaling potential cross-asset rotation. Markets are watching whether DXY can reclaim 96.

XRP is changing hands near $1.81 after a daily drop of almost 5% and a weekly decline of about 6%, while analysts highlight a roughly 434-day consolidation phase. Key chart watchers are focusing on the $1.80 support zone and a tight $1.80–$2.00 range, as on-chain data shows 42 new wallets with at least one million XRP and continued inflows into XRP-linked ETFs.

Crypto derivatives data shows mounting leverage stress, with long-side liquidations repeatedly outpacing shorts while spot prices remain range-bound. Recent figures reveal a single hourly event wiping out over $230 million in long positions compared with less than $5 million in shorts, and platforms like Binance and Hyperliquid recording the bulk of these forced unwinds, underscoring growing downside sensitivity.

On January 29, 2026 at 17:45, Ethereum fell below $2,900, extending its short-term downtrend and intensifying pressure on leveraged positions. According to the latest liquidation data, 30 percent moves could trigger liquidations of $11.22 billion in shorts or $10.50 billion in longs. RSI slipped into the low 30s while MACD remains negative.

Dogecoin fell 5.79% in the last 24 hours to $0.117 and was down 2.51% over the most recent hour. According to CoinGlass, open interest slipped 1.38% to $1.4 billion, while BitMEX futures volume spiked 10,782% to $200.98 million. Alicharts reports >$1 million transactions dropped 94.6% over four weeks.

Macro analyst Michaël van de Poppe says gold’s momentum has driven its RSI above 91, a threshold last seen in December 1979 and higher than August 2020. He notes that after the 2020 spike, gold consolidated while Bitcoin advanced about 5–6x, prompting debate over whether a similar setup could unfold.

On January 29, 2026, XRP traded near the bottom of its recent range and remained below declining resistance, signaling muted momentum. According to the analysis, total open interest hovered around $3.38 billion with a recent 24‑hour pullback, while Binance held a large share of derivatives exposure. Exchange inflows and outflows showed episodic spikes without a persistent trend, and prior inflow surges aligned with price softness.

On Thursday, Bitcoin slid back under $90,000 and traded around $87,700 after the Federal Reserve's first 2026 decision to leave interest rates in the 3.50%–3.75% range. The broader crypto market value hovered near $3.11 trillion, with Ethereum retreating toward $3,000 as traders weighed rate-cut timing, shifting flows into gold and silver, and heavy leverage that could trigger liquidations between $75,000 and $105,000.

BTC’s pre-FOMC push on Wednesday halted at $90,000, keeping price confined to the $86,000–$90,000 band since Jan. 20. Analysts say momentum could improve if $93,000 is reclaimed as support, with resistance clustered near the 50-day and 100-day SMAs at $90,000 and $94,000. ETF flow stability may further aid a break toward $98,000.

On January 29, 2026, Dogecoin is retesting a previously broken downtrend line on the 4-hour chart. Price stands at $0.1209, down 4.2% over 24 hours, 3.9% on the week, and 2.8% over the month. A firm hold could keep the path open toward recent local highs, while a failure would increase downside risk.