Crypto Price Analysis 1-15 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, HEDERA: HBAR, CHAINLINK: LINK, APTOS: APT, INTERNET COMPUTER: ICP

The cryptocurrency sector rose by 2.29% to $3.36 trillion as markets recovered, driven by a resurgent Bitcoin (BTC) crossed the $97,000 mark, up over 2% in the past 24 hours. BTC briefly dropped below $90,000 earlier in the week, spooking markets and leading to a considerable decline among cryptocurrencies. However, it rebounded to reclaim crucial levels and is trading just above the $97,000 level. 

Other altcoins have risen as well, with Ethereum (ETH) up almost 2% as it looks to reclaim the $3,300 level. Meanwhile, XRP has surged nearly 11% as its legal battle with the Securities and Exchange Commission (SEC) entered a crucial phase. Notable gains were also registered by Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Stellar (XLM), Toncoin (TON), Chainlink (LINK), and Hedera (HBAR). 

A Look At The Altcoin Market 

Altcoins displayed a mix of trends over the past 24 hours, with some registering substantial gains while others struggled to build momentum thanks to growing selling pressure. Ethereum (ETH) registered a significant increase, rising almost 3% to settle above $3,200. The world’s second-largest cryptocurrency is trading around the $3,230 mark. The increase is because of increased institutional demand for Ethereum staking and Layer2 solutions. Dogecoin (DOGE) registered an increase of almost 6% following a surge in open interest, indicating growing speculative activity. Cardano (ADA) also outperformed expectations and is trading above $1, up almost 7%. 

SEC Sues Elon Musk 

The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk, alleging he failed to disclose his purchase of over 5% of Twitter (now X) shares within the legal timeframe. The SEC alleged that Musk’s delayed disclosure allowed the Tesla CEO to purchase additional shares at lower prices, allowing him to potentially underpay by $150 million. The SEC is seeking disgorgement of the gains, a civil penalty, and a permanent injunction against future securities law violations. Musk’s lawyer, Alex Spiro, stated, 

“This is an admission that the SEC cannot bring an actual case because Musk has done nothing wrong, and everyone sees this sham for what it is.”

Gary Gensler Issues Dire Warning 

Outgoing Securities and Exchange Commission Chair Gary Gensler has issued a dire warning about the crypto industry, calling it a ticking time bomb of failures. He stated that crypto’s speculative nature exposed investors to significant risk and that many projects lack a solid foundation and are likely to fail over time. Gensler stated during an interaction, 

“I’ve been around finance for over four decades. And everything in the markets trades on a mixture of fundamentals and sentiment at any given time. I’ve never seen a field that’s so much wrapped up in sentiment and not so much about fundamentals.”

Gensler also highlighted the risk of growing pump-and-dump schemes, stating, 

“And these 10,000 to 15,000 projects— many of them will not survive. They’re like venture capital investments. They’re not going to survive, but there’re also a fair number of small pump-and-dump schemes and other things in this. And, of course, we’ve lived through a few years where they became notorious, but they’re in jail, the Sam Bankman-Frieds and the CZs and the Do Kwons, where tens of billions of dollars were lost by investors.”

Gensler has been a vocal critic of the crypto space and has called for greater oversight, citing a lack of transparency and failure to protect investors. The SEC initiated over 100 enforcement actions under Gensler’s leadership, including against prominent players like Coinbase. Gensler is reportedly taking steps to ensure his regulatory policies endure even after he has stepped down. According to former SEC official John Reed Stark, Gensler has promoted top crypto-focused attorneys to senior roles, ensuring a hardline enforcement stance that could continue even after he steps down as SEC Chair. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has registered a sharp recovery over the past couple of sessions after facing significant selling pressure at the beginning of the week, with sellers driving the price to an intraday low of $89,397. However, buyers bought the dip, pushing the price back above $90,000. The move highlighted a risk appetite among traders despite the release of Consumer Price Index (CPI) data on the horizon. The Federal Reserve had taken a hawkish stance in December, indicating fewer rate cuts in 2025, increasing market sensitivity to inflation data. A higher-than-expected inflation reading could reinforce the Federal Reserve’s hawkish stance and add downward pressure on BTC. 

BTC is attempting to reverse the losses incurred last week when it witnessed a dramatic decline. BTC surged past $100,000 on Monday (January 6), rising 3.99% to $102,228. However, market sentiment changed on Tuesday, and BTC plummeted over 5% to slip below $100,000 and the 50-day SMA to $97,019. The price dropped to an intraday low of $92,456 on Wednesday, falling below the 20-day SMA as selling pressure intensified. However, it recovered from this level to settle at $95,121, ultimately registering a drop of almost 2%. Bearish sentiment persisted on Thursday as BTC dropped 2.53% and settled at $92,710.

Source: TradingView

Despite the overwhelming bearish sentiment, BTC recovered on Friday, registering an increase of 2.27% and settling at $97,818. With the 50-day SMA acting as a dynamic resistance level, BTC lost momentum on Saturday, registering a marginal decline and dropping to $94,452. However, it registered a marginal increase on Sunday to end the weekend positively. The current week began with selling pressure registering a sharp rise as BTC plummeted below $90,000 to an intraday low of $89,397. However, it recovered from this level to reclaim $90,000 and settle at $94,492, ultimately registering only a marginal decline. Buyers returned to the market on Tuesday as market sentiment changed. As a result, BTC rose by 2.19% to go above the 20-day SMA and settle at $96,556. The current session sees BTC marginally up as buyers look to push it above the 50-day SMA.

If BTC can get past the 50-day SMA, we could see the price test $100,000 again, with expectations of a rally following Donald Trump’s inauguration.

Ethereum (ETH) Price Analysis

Ethereum (ETH) is attempting to reclaim the $3,300 level as it rebounds after dropping to an intraday low of $2,927 on Monday. ETH has been trading in a downward trajectory since Tuesday (January 7), when it fell over 8% to slip below the 20 and 50-day SMAs and the $3,500 price level to settle at $3,381. ETH continued to drop on Wednesday, falling to an intraday low of $3,217 before recovering and settling at $3,327, ultimately registering a decline of 1.62%. Selling pressure intensified on Thursday as ETH dropped just over 3% to $3,220. The price recovered on Friday, rising 1.45% to an intraday high of $3,321 before settling at $3,267.

Source: TradingView

Buyers retained control on Saturday as ETH registered a marginal increase to settle at $3,283. However, sentiment changed on Sunday, and ETH dropped 0.53% to end the weekend at $3,226. Bearish sentiment registered a substantial increase on Monday as ETH plummeted below $3,000 to an intraday low of $2,927, briefly slipping below the 200-day SMA. However, buyers bought the dip, propping the price above $3,000. ETH ultimately ended Monday at $3,137, registering a drop of almost 4%. ETH recovered on Tuesday, rising nearly 3% to $3,226. The current session sees ETH marginally down as buyers and sellers struggle to establish control.

ETH faces several resistance levels if it wants to reclaim the $3,500 level. The first level sits at $3,300. If this level is crossed, the next resistance sits around $3,400, where the 20-day SMA is also positioned.

Solana (SOL) Price Analysis

Solana (SOL) has recovered over the past couple of sessions as buyers look to push it above $190 towards the crucial $200 level. SOL has been bearish since failing to go beyond the 50-day SMA and dropped 7.38% on Tuesday to settle at $202. The price continued to fall on Wednesday, briefly slipping below the 20-day SMA to an intraday low of $188. However, it recovered from this level to go above the 20-day SMA and settle at $197. Selling pressure registered a substantial increase on Thursday as SOL slipped below the 20-day SMA after a drop of 6.33% and settled at $185. Despite the selling pressure, SOL recovered on Friday, rising to an intraday high of $193 before settling at $187.

Source: TradingView

SOL experienced volatility over the weekend as buyers and sellers attempted to establish control. Buyers ultimately gained the upper hand as SOL registered marginal increases on Saturday and Sunday to end the weekend at $188. SOL plummeted to an intraday low of $169 on Monday as market sentiment turned bearish. However, buyers bought the dip, pushing SOL back above $180. SOL ultimately settled at $182, registering a drop of almost 3%. Buyers returned to the market on Tuesday as SOL rose 2.57% to $187. The current session sees SOL up just under 1% as it looks to go past $190. If SOL can breach this level, it will look to move past the 20-day SMA and $200.

Hedera (HBAR) Price Analysis

Hedera (HBAR) has gone past the 20-day SMA during the ongoing session, as it looks to consolidate above $0.30. HBAR had dipped below the 20-day SMA on Wednesday after falling to an intraday low of $0.266. The price recovered from this level and settled at $0.285, ultimately registering a drop of 1.25%. Sellers retained control on Thursday, pushing HBAR down by 5.56% to $0.269. However, with the 50-day SMA acting as a dynamic support level, HBAR recovered on Friday, rising over 4% to $0.281.

Source: TradingView

The price continued to push higher on Saturday, rising to $0.292. However, it could not move past the 20-day SMA and was back in the red on Sunday, falling almost 5% to $0.278. The current week began with HBAR experiencing considerable volatility as buyers and sellers attempted to establish control. Buyers attempted to push beyond the 20-day SMA, while sellers attempted to drive HBAR below support levels. As a result, the price reached an intraday high of $0.289 and fell to an intraday low of $0.255. HBAR ultimately settled at $0.276, registering a drop of 0.95%. The price recovered on Tuesday, rising over 4% to $0.287. HBAR has move past the 20-day SMA during the ongoing session and is up almost 7%, trading around $0.307.

Chainlink (LINK) Price Analysis

Chainlink (LINK) struggled to break out of a narrow range as buyers looked to build momentum and push the price beyond the 20-day SMA. The price has struggled to build momentum after registering a substantial drop the previous week. LINK fell below the 20 and 50-day SMAs on Tuesday after registering a fall of over 10% and settling at $21.38. LINK continued to fall on Wednesday, dropping over 4% to $20.45. The price fell below the crucial $20 support level on Thursday, falling almost 4% and settling at $19.65. However, it recovered on Friday to register an increase of 3.03% and settle at $20.24.

Source: TradingView

Bearish sentiment returned over the weekend as LINK registered a marginal decline on Saturday before falling almost 2% on Sunday, slipping below $20 and settling at $19.83. Selling pressure intensified on Sunday as LINK plummeted to an intraday low of $17.87. It recovered from this level as buyers bought the dip and ultimately settled at $19.36, a drop of 2.37%. Bullish sentiment returned on Tuesday as LINK rose almost 5% to reclaim $20 and settle at $20.30. The current session sees LINK up just over 1% as it looks to move past the 20-day SMA.

Aptos (APT) Price Analysis

Aptos (APT)’s bull run abruptly halted on Tuesday as it lost momentum after reaching an intraday high of $10.65. As a result, sellers took over, driving the price down over 5% to $9.65. Bearish sentiment intensified on Wednesday as APT fell below the 20-day SMA after a drop of almost 7% and settled at $9.01. Sellers retained control on Thursday, as APT fell below $9 and settled at $8.65 after a drop of almost 4%. With the 200-day SMA acting as support, APT recovered on Friday, rising nearly 6% to reclaim $9 and settle at $9.14. However, it could not move past the 20-day SMA and fell back in the red on Saturday, registering a marginal decline.

Source: TradingView

APT continued to drop on Sunday, dropping over 3% to slip below $9 and settle at $8.82. Bearish sentiment intensified on Monday as APT fell to an intraday low of $7.94, going below the 200-day SMA and $8. However, it recovered from this level to reclaim $8 and settle at $8.46. Bullish sentiment returned on Tuesday as APT rose 6.55% to move past the 200-day SMA and settle at $9.01. The current session sees APT marginally down as sellers look to dive it below $9. On the other hand, buyers will look to keep the price above $9 and attempt to move past the 20-day SMA.

Internet Computer (ICP) Price Analysis

Internet Computer (ICP) reported a dramatic decline last week, slipping below key support levels and moving averages. The price dipped below the 50-day SMA on Tuesday, falling almost 10% to $11.02. Sellers retained control on Wednesday as ICP dropped to an intraday low of $10.37. However, it recovered from this level to settle at $10.87, ultimately registering a drop of 1.36%. Bearish sentiment intensified on Thursday as ICP went below the 20-day SMA, dropping almost 7% to $10.12. The price recovered on Friday as it raced to an intraday high of $10.85. However, it could not go past the 20-day SMA and dropped to settle at $10.35.

Source: TradingView

Buyers retained control on Saturday as ICP rose 1.26% to $10.48. However, it was back in the red on Sunday, dropping over 2% to end the weekend at $10.23. Bearish sentiment intensified on Monday as ICP dropped to an intraday low of $9.31, below the $9.90 support level. The price recovered from this level to settle at $9.78, a drop of 4.40%. Buyers returned to the market on Tuesday as ICP rose almost 5% to reclaim $10 and settle at $10.42. The current session sees ICP up nearly 2% and trading around $10.42.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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