XRP, HBAR, BGB, and XMR Exhibit Upward Momentum While Bitcoin’s Path Remains Uncertain, According to TradingView News
The cryptocurrency Bitcoin 
BTCUSD has soared past $95,000, reflecting persistent demand by bullish investors. Zach Pandl, Grayscale’s head of research, conveyed to Cointelegraph that while Bitcoin’s progress is hindered by the US dollar’s robustness, he foresees this to be a fleeting setback as the US presidential inauguration is imminent. Pandl predicts cryptocurrencies are poised for a bullish valuation shift.
One event stirring investor interest is the potential creation of a US Bitcoin reserve. According to a CoinShares blog post, the enactment of the “Bitcoin Act” could have a significant, enduring influence on Bitcoin’s value, even more than the introduction of spot Bitcoin exchange-traded funds (ETFs) slated for 2024.
Nevertheless, some analysts maintain a cautious short-term stance. Market analyst Willy Woo indicated in a Jan. 10 post that despite the overwhelmingly bullish sentiment around Bitcoin, a prudent approach is advisable due to high risk and the expectation of further profit-taking before the market stabilizes.
Is Bitcoin en route to $100,000, and with it, lifting certain altcoins? We’ll explore the technical charts for the five cryptocurrencies that may lead performance in the near future.
Bitcoin price analysis
While Bitcoin is rebounding, it’s encountering resistance at the 20-day exponential moving average (EMA) ($96,190). However, the persistent buyers are holding their ground against sellers.
BUY NOW
The bulls will likely renew their efforts to breach the moving averages, and if successful, the 
BTCUSDT pair might ascend to the downtrend line where heavy selling is anticipated. If the price faces a significant decline from the downtrend line, it could develop into a descending triangle pattern if it drops below $90,000.
Conversely, if the price breaks and maintains above the downtrend line, it may be an indication that the buyers have regained control. This scenario could see the pair rise to $102,724, and potentially to $108,353.
The effort to keep the price afloat above the 20-EMA is evident. Should this be sustained, the price could head towards the 50-simple moving average and thereafter to the downtrend line. A downward turn from the downtrend line that finds support at the 20-EMA could hint at a sentiment shift from selling on surges to purchasing on dips. Such a change heightens the chance of overcoming the downtrend line.
This upbeat analysis could be negated if the price drops from its current standing and falls under $90,000, indicating bearish dominance.
XRP price analysis
XRP (XRP) has successfully surged and closed above its symmetrical triangle pattern on Jan. 11, which suggests a bullish resolution to the prior ambivalence.
The 20-day EMA ($2.34) is on an upward trajectory and the RSI is in the bullish zone, which suggests the bulls have the upper hand. Stability above the triangle could mean the 
XRPUSDT pair will climb towards $2.73 and possibly to $2.91. The $2.91 mark is anticipated to be a battleground for sellers, but a bullish breach could lead to a surge towards the pattern’s intended target of $4.84.
On the flip side, if the price gets pulled back below the 20-day EMA, it could indicate waning bullish momentum. A break below the support line could signal a more considerable correction.
The pair may undergo a retest of the breakout level from the triangle. A bounce at this juncture could affirm that buyers are trying to build support at the point of breach, which might increase the likelihood of overcoming $2.60 on its way to $2.73.
However, should the pair break below the triangle, it could catch bullish investors unprepared, potentially dragging the price down to $2.20 and later to the support line. Key support zones between $2.20 and the support line are projected to be stoutly defended by buyers.
Hedera price analysis
Hedera (HBAR) appears to be developing a bearish descending triangle pattern, which could be confirmed as negative with a definitive break below $0.24.
A silver lining for the bulls is their persistence in preventing a plunge below the 50-day SMA ($0.27). A rebound from the current level or the 50-day SMA could signal buying activity at these lower levels. The 
HBARUSDT pair could advance to the descending triangle’s downtrend line. A clear ascent above this line could propel buyers into an advantageous position, potentially accelerating the pair to $0.38.
Alternatively, any descent below the 50-day SMA could indicate escalating selling pressure, possibly driving the price down to the $0.24 support level.
Fluctuating moving averages signal uncertain, choppy market conditions. A slip below the 20-EMA could embolden the bears to target the $0.26 mark. Breaking below this vital level might precipitate a fall to $0.24.
To bolster their position, the buyers must sustain the price beyond the 50-SMA. Achieving this could pave the way for a retest of the downtrend line. Overpowering this hurdle might open a path to $0.34.
Bitget Token price analysis
Source link#XRP #HBAR #BGB #XMR #flash #bullish #signs #Bitcoin #searches #direction #TradingView #News
