Bitcoin is currently making efforts to maintain its price at $106,000, amid uncertainty regarding the temporary budget bill approval by the House of Representatives. A final vote in the Senate is expected, followed by a vote in the House, moving the process to President Trump’s approval stage. The search for a more permanent solution is set to continue until January 31. Meanwhile, what are the latest developments for XRP, ETH, BTC, and SOL Coins?
Bitcoin (BTC) and Ethereum (ETH)
The trend of significant crypto whales selling their assets continues, unfortunately. This ongoing sale, along with a conducive environment for declines, limits upward trends. A strong demand surge through the ETF channel could partially limit this. However, no such indications are currently observed. Ali Martinez emphasizes the ongoing whale sell-offs of ETH, noting that 23 of the biggest whales either sold assets or made transfers to different wallets last week, which isn’t promising.
Lark Davis is among those who remain hopeful. Davis highlights the trend support line maintained since April, suggesting that despite resistance from the 20EMA, upward movement is possible. The MACD golden cross is another promising detail, with an anticipated return to $4,800. This could positively impact altcoins as well.
DaanCrypto has recently shared an updated assessment for BTC:
The BTC trend is in a downtrend, attempting to reclaim the previous support area around $107,000. This area intersects with the Daily 200MA/EMA, a critical zone monitored since April.
Concerns regarding expected unfavorable decisions by the Supreme Court and uncertainties around delayed reports upon reopening may undermine the $107,000 support level.
In this phase, news flow is more crucial than ever. It’s vital for investors to stay informed about recent developments. The free news section of the CryptoAppsy application can be helpful for this purpose, with its latest versions available for both Android and iOS.
Solana (SOL) and Ripple (XRP)
Today, Davis emphasized the altcoin Solana (SOL) as his second focus. While writing, SOL Coin is at $167, with the analyst indicating a formidable resistance wall. The 20EMA on the daily chart converges with the downtrend line. Sharing the chart below, the analyst expressed:
SOL is currently facing a resistance wall. The convergence of the Daily 20 EMA and the downtrend line is further strengthened by the 0.5 and 0.618 Fib levels. This area will determine the next phase. We are closely monitoring.
Ali Martinez is optimistic about XRP Coin’s upward movement. His target involves a strong breakthrough of $1.9, returning to the price discovery phase, and a higher peak at $6.