Bitcoin surged to $93,155 on January 5, 2026, marking the fifth consecutive session of gains as investors position portfolios for year ahead. Ethereum tests $3,200 resistance while XRP breaks bearish channel above $2, but death cross patterns remain active since late November 2025. LMAX strategist Joel Kruger views Q4 2025 pullback as “a healthy reset” that cleared excess leverage, improving market structure for 2026 rally. 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. 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. Bitcoin 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.
Bitcoin has been testing the upper boundary; the price action is moving in a narrowing wedge pattern. BTC has been respecting a descending trendline for weeks. Price recently tested this trendline near 94,800 and showed a reaction. 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.
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. 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. 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 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 is trading at $2.14, marking its fifth consecutive rising session and the highest value since early December. 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 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.
Dogecoin (DOGE) rallied four consecutive days, 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. 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.
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