Cryptocurrencies Price Prediction: Bitcoin, LayerZero & Ethereum — Asian Wrap 23 January

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC shows mild signs of recovery, ETH and XRP remain under pressure

Bitcoin price started the week on a negative note, closing below key support levels: the 50-day Exponential Moving Average (EMA) at $91,942 and the previously broken upper consolidation boundary at $90,000. On Wednesday, BTC rebounded slightly after retesting the midpoint of a horizontal parallel channel at $87,787 and continued its recovery the next day. At the time of writing on Friday, BTC is trading at around $89,900.

Top Crypto Gainers: LayerZero, Axie Infinity, and Sandbox extend the bull run

LayerZero is up 3% at press time on Friday, extending the 13% rise from the previous day. The cross-chain messaging token rallies for the fifth consecutive day, lifting the 50-day Exponential Moving Average (EMA) to $1.56 and the 100-day EMA to $1.58, signaling short-term strength and approaching a potential crossover. Technical indicators on the daily chart suggest intense bullish momentum approaching overbought levels. The Relative Strength Index (RSI) at 86 rises into the overbought zone, and the Moving Average Convergence Divergence (MACD) and signal line move higher as the histogram widens above zero. 

Ethereum Price Forecast: JPMorgan sees post-Fusaka activity surge fading

Ethereum's (ETH) Fusaka upgrade last December has seen fees plummet to new lows while sparking a surge in transaction counts and active addresses. However, that growth may not last, according to a Wednesday note by JPMorgan analysts led by Nikolaos Panigirtzoglou. The bank noted that while Fusaka and the Pectra upgrade from May 2025 boosted activity over the past year, such network booms tend to calm over time.