Crypto: Price Predictions 1/16: Btc, Eth, Xrp, Bnb, Sol, Doge, Ada, Xmr,...
The crypto market rally lost momentum as Bitcoin met resistance near $98,000, but technical charts suggest traders will actively buy dips to underlying support levels in altcoins and BTC.
Bitcoin is attempting to find support near the $94,500 level, signaling a positive sentiment.
Buyers will have to defend the support levels in select major altcoins; else the recovery could fizzle out.
Bitcoin’s (BTC) shallow pullback is attempting to find support near the $94,500 level, indicating a lack of aggressive selling by the bulls. A positive sign is that BTC’s rally above $97,500 was supported by solid buying by institutional investors since Monday. According to Farside Investors data, spot BTC exchange-traded funds recorded $1.81 billion in net inflows this week.
BitMEX co-founder Arthur Hayes said in a post on Wednesday that BTC will get its groove back in 2026 as dollar liquidity will expand in 2026. Hayes added that as dollar liquidity rises rapidly, “BTC will follow.”
While the near-term signals point to a possible rally above the psychological level of $100,000, traders need to be watchful. Daan Crypto Trades said in a post on X that BTC needs to hold the $94,000 region as a break below it “would not make for a pretty look.”
Could BTC and the major altcoins resume their relief rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
BTC pierced the $96,846 resistance on Wednesday, but the bulls could not sustain the higher levels. The price slipped back below the breakout level on Thursday.
A minor positive in favor of the bulls is that they have not given up much ground. If the price turns up from the current level and breaks above $97,925, it signals the resumption of the up move. The BTC/USDT pair could rally to $107,500, with a minor stop at $100,000.
This positive view will be invalidated in the near term if the Bitcoin price turns down and breaks below the 20-day exponential moving average ($92,083). The pair may then drop to the 50-day simple moving average ($90,127).
Source: CoinTelegraph
