Cryptocurrencies Price Prediction: Bitcoin, Ethereum, & Stellar – Asian Wrap 6 Jan

Bitcoin Price Prediction: BTC readies for liftoff to $40,000 as whales continue accumulating

Bitcoin has, from the beginning of this week, made a remarkable recovery from the recent 20% downswing to $27,735. The bellwether cryptocurrency teeters at $33,884 amid the struggle to resume the uptrend owing to the overhead pressure at $34,000.

All ardent Bitcoin and cryptocurrency enthusiasts are aware of the talk regarding institutional investors adopting Bitcoin. Some believe that these high-volume investors' buying pressure is contributing massively to the rally that saw BTC hit a new all-time of $34,810.

Bitcoin holder distribution chart

Ethereum Price Analysis: ETH snaps four-day uptrend but sellers fear entry above $983

ETH/USD marks its first intraday losses in four while declining to $1,080 during early Wednesday. The ethereum buyers seem to have lacked upside momentum following their run-up to the highest since late January 2018 during Monday. Since then, the quote has been marking a lower high formation amid overbought RSI, which in turn favor sellers.

However, 5-day SMA and February 2018 top, respectively near $995 and $983, will follow the $1,000 threshold to challenge the bears’ entry.

Stellar price explodes by 40% in the past 24 hours but faces short-term pressure

After an initial significant 33% rally that started on January 3, Stellar hasn’t paused and has seen another 40% breakout hitting $0.21. After a lot of bullish momentum, the digital asset might be on the verge of a correction, suggests various indicators.

On the 2-hour and 9-hour charts, the TD Sequential indicator has presented a green ‘8’ candle which is usually followed by a sell signal which will be posted within the next hour. Confirmation of both signals would shift the odds in favor of the bears in the short-term. 

xlm price

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Bitcoin price ready for another upswing as the Fed publishes new preconditions for a digital dollar

The Fed will be looking for stakeholder interest and buy-in to support the launch of a CBDC. The US is still a long way to develop a digital dollar because many structures are not yet in place.

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Solana: SOL could take a breather and pullback 30% after a 600% bull rally

SOL price has been on an uptrend since Jan 22 with only minor corrections. SOL was surprisingly unbothered during the market crash on Feb 22 and 23, as it dropped by a mere 13%.

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Ethereum: ETH building overhead pressure threatens losses to $1,200

Ethereum’s recovery stalls at $1,700, opening the door to the ongoing bearish pressure. The IOMAP reveals the presence of intense selling pressure ahead of Ether.

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Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

Read the weekly forecast