Price Predictions 1/12: Spx, Dxy, Btc, Eth, Xrp, Bnb, Sol, Doge,... (2026)

Bitcoin and several major altcoins bounced off their strong support levels, but charts and trading volume suggest bears will continue to sell at the range highs.

Bitcoin may reach the $94,789 level, where the bears are expected to step in.

Select major altcoins are showing strength, indicating that the recovery may continue for some more time.

Bitcoin (BTC) bulls have pushed the price above $92,000, but higher levels may attract sellers. The net outflows of $1.37 billion from BTC exchange-traded funds from Tuesday to Friday last week, according to SoSoValue data, show that institutional investors remain cautious.

Fidelity Investments director of global macro Jurrien Timmer said in a post on X that BTC is “following the internet S-curve a lot closer now than the power law curve.” He added that if BTC consolidates for the next year, then the $65,000 level “could become a do-or-die line in the sand” for BTC.

Irrespective of the near-term uncertainty, the world’s largest corporate BTC holder, Strategy, added 13,627 BTC to its balance sheet last week at an average price of $91,519 per coin. That boosts the company’s holdings to 687,410 BTC, acquired at an average price of $75,353 per coin.

Could BTC and the major altcoins break above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

The S&P 500 Index (SPX) rallied to a new all-time high on Friday, signaling the resumption of the uptrend.

The upsloping moving averages and the relative strength index (RSI) in the positive territory indicate an advantage to buyers. There is resistance at the 7,000 level, but it is likely to be crossed. The index may then surge to 7,290.

Time is running out for the bears. They will have to yank the price below the 50-day simple moving average (SMA) (6,819) to weaken the bullish momentum. The index may then drop to the 6,720 level.

Source: CoinTelegraph