Bitcoin has experienced a significant rebound, surpassing the $94,000 mark, reflecting strong buying sentiment among investors during dips near $90,000. This recovery indicates a potential retest of the $100,000 level. Analysis by Blocktrends head of research, Cauê Oliveira, highlights purchasing activities by large entities just below $95,000.
A Bitwise survey involving 430 financial advisors, conducted from November 14 to December 20, reveals that 56% of respondents are more inclined to invest in cryptocurrency by 2025, following Donald Trump’s presidential election victory. Moreover, 99% of those currently investing plan to maintain or increase their crypto investments this year.
The entrance of new investors could signal positive momentum for both Bitcoin and altcoins. Real Vision CEO Raoul Pal anticipates a market phase where prices go up significantly, followed by consolidation.
In price analysis, Bitcoin bounced back from $91,203 on January 9, showing strong defense of the $90,000 threshold by buyers. Key resistance levels lie at the moving averages, with risks of a downturn if the upward trajectory falters. A sustained move above the downtrend could propel the cryptocurrency towards $102,725 and even $108,353.
Ether (ETH) faces the completion of a head-and-shoulders pattern, potentially driving prices to $2,850 if the pattern materializes. For a positive shift, breaking above the 20-day EMA at $3,451 is crucial.
XRP is confined within a symmetrical triangle, indicating a supply-demand balance. A breakout above this zone could trigger rallies towards $2.73 and $2.91, while a decline might push prices down to $1.62.
BNB, closing below its 50-day moving average, encounters resistance at $691, challenging its recovery efforts. Should the bulls overcome this, the coin could ascend to $745 and eventually $794, while downside risks loom at $635.
Solana has rebounded from an uptrend line, with the bulls striving to break past the 50-day SMA at $215. Failing to do so could lead to a decline towards $175 or even $155, extending oscillation between $116 and $260.
Dogecoin’s price consolidation between $0.30 and $0.40 indicates mixed investor sentiment, with levels above the 20-day EMA keeping the range-bound action alive and a target at $0.40.
Cardano sees buying interest at lower levels as it attempts to move past its 50-day SMA at $1.01. A successful climb could reach $1.15, while a failure risks a drop to $0.80.
Avalanche’s relief rally faces hurdles, with a likelihood of breaking below $33.60 unless the price surpasses the 20-day EMA, suggesting a period of range-bound trading.
Scaling to Sui, it is supported at the 20-day EMA, targeting a price rally to $5.37 and higher. An unsuccessful defense could see it slide towards $4 or $3.50.
Finally, Toncoin approaches a strong support zone, where buyers are anticipated to defend $4.44 to $4.72. Surpassing this could see further stabilization or volatility.
These analyses emphasize the diversified potential and risks within the cryptocurrency market, underscoring the need for careful strategizing by investors.
