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Price Analysis January 23rd, 2025 – BTC, XRP, ETH, DOGE, and SOL
- Bitcoin price has seen profit-booking near its all-time high of $109,587, but the key support at $100,000 remains intact.
- Long-term investors are using the dips to accumulate more Bitcoin, with MicroStrategy acquiring 11,000 coins in recent weeks.
- BTC is currently trading above the 20-day EMA, indicating positive market sentiment. If it breaks the $108,322 resistance, it could rally to $126,650.
- Ethereum (ETH) has faced selling pressure, dropping to $3,193. A bearish setup suggests further downside to $2,854 or $2,400.29, while a rally above $3,342.96 would increase chances of $3,503 and $3,740.
- XRP has lost previous gains and is now priced at $3.07. A drop below $3 could target $2.82 or $2.49, while a move above $3.15 resistance could push it towards the all-time high of $3.40.
- Solana (SOL) has retraced from its all-time high of $294 to $243. It remains above the 20-day EMA, increasing the likelihood of a rally to $360 if resistance at $294 is overcome.
- Dogecoin (DOGE) has dropped below the 20-day EMA at $0.3683 and is currently at $0.3462. Further downside could target $0.3005 or $0.2744, while a move above the 50-day SMA at $0.3708 could lead to a surge to $0.4213.
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