King cryptocurrency Its unit rose to $160,648 in the last 24 hours and hit a new all-time record level. Following the latest data, we saw that the price increased along with the interest as the risks regarding the Fed meeting weakened. Moreover, in about a month, the new US President Trump will officially take office.
Bitcoin (BTC)
at $106,648 BTC reached a new all-time record high. Although we are now seeing interim corrections as consolidation continues in six-digit prices, investors are even more confident that the steady rise will continue.
Sharing his current forecast for BTC at the time of writing, Phoenix underlines his bullish target and says the following;
“It’s a new ATH, but still no one seems to care.
Now a nice retest of the previous one here, it would make a lot of sense to retest it and send it towards $110k and above, right? TRUE!”
Jelle also drew attention to the gray area after sharing the chart below.
“Bitcoin
$104,723.9 It jumped from $100,000 and started to rise again. The gray box is the first support currently available – which I doubt we’ll be testing again anytime soon.
We only need to see shallow declines if we are to start the next leg from here. Let’s see if we see further and higher levels.”
Although $120,000 seems like a reasonable target when we compare today’s growth with the growth experienced in previous cycles, previous structures seem destructible in the strongest institutional and public BTC adoption period in history. Just as the previous ATH’s obligation to support was turned upside down in the decline, now with growth above expectations, BTC may set an unusual peak at $200 thousand.
Solana (LEFT)
One of the popular altcoins SOL Coin does not care about BTC despite the new ATH movement. As of January, we can see the effects of SOL Coin ETFs awaiting approval on the price. But for now, the price is stalling at $216.
Altcoins usually experience delayed rises after the king cryptocurrency makes new highs. If we are going to see something like this, a test towards $260 may be seen soon. If Trader XO solana (LEFT) and wrote the following by sharing the graphic below;
“We need to see this before a final push and a bigger corrective move.”
The analyst is hoping for a new upper wick above $260 towards $300 to move the ATH level higher.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
