Bitcoin’s price rallying above $100,000 could positively impact altcoins such as Solana (SOL), Sui (SUI), Internet Computer (ICP), and Ethena (ENA). Bitcoin showed a promising 4% rise last week, with U.S. spot Bitcoin ETFs rebounding sharply from $242.3 million in outflows to $908.1 million in inflows, suggesting investor confidence in Bitcoin’s upward trajectory. Bitcoin exchange inflow has decreased since its peak in November, indicating reduced selling pressure, supported by a decline in miner outflows.
Bitcoin might consolidate between $95,000 and $110,000 through January, with no expectation of significant price movement tied to U.S. President-elect Donald Trump’s inauguration on January 20. A rise above $100,000 could propel certain altcoins higher.
For Bitcoin, if the bulls push past the resistance at $100,000, the BTC/USDT pair could climb to a peak of $108,353, and possibly even higher to $126,706. If buyers falter at $100,000, a short-term consolidation might see prices oscillate between $90,000 and $100,000.
Solana is facing resistance at the 50-day SMA ($219). A rally above this point could lead to further gains to $234 and $247 if the bulls maintain momentum. Alternatively, a slip below the 20-day EMA could push prices down to the uptrend line.
Sui has surpassed its resistance at $4.96, suggesting a continued uptrend. If prices hold above $4.96, a rally to $6.28 is possible. Failure to maintain above that level might see prices drop to $3.94.
Internet Computer shows a strong comeback by crossing its moving averages. If it sustains this movement, the price might reach $14 or $15. Conversely, falling below the 20-day EMA could result in a decline to $9.60.
Ethena’s formation of a cup-and-handle pattern hints at a possible rise if prices close above $1.30, potentially reaching $1.52 or $1.72. A dip below the 20-day EMA could signal a weakening grip by bulls, with prices possibly dropping to $0.88.
Investors are advised to conduct their own research since trading involves risks.
