Cryptocurrencies Price Prediction: Bitcoin, Solana and Ethereum Classic – European Wrap 20 January

FXStreet Team FXStreet

Bitcoin Weekly Forecast: Assessing shift in BTC’s narrative and critical levels to watch

Bitcoin (BTC) price shows a clear surge in buying pressure that has shifted the landscape from bearish to bullish, albeit for the short term. Regardless, investors are cautious and torn between discerning what phase of the cycle BTC is in.

Solana could destroy Ethereum alternatives with its massive surge in activity on the SOL blockchain

Solana, an Ethereum alternative blockchain, has witnessed a spike in the daily active SOL accounts and transactions on its network. The altcoin is working on dissociating itself from the FTX exchange collapse and “Sam coin” narrative.

Number of Solana transactions by day (As of Jan 19)

Ethereum Classic Price Forecast: ETC not reflecting fallout from Genesis bankruptcy

Ethereum Classic (ETC) is currently holding near $20 after reality kicked in this week with several central bankers coming out and setting the record straight in terms of inflation, growth outlook and recession possibilities. To make matters worse for cryptocurrencies, this morning in Hong Kong crypto broker Genesis filed for bankruptcy after trying to negotiate with its creditors since November for an alternative way out.

he $20 psychological level needs to be given up for now.

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FXStreet Team

FXStreet

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Ripple extends losses as derivatives interest cools

Ripple (XRP) extends its bearish roll near $1.12 support on Friday, reflecting intense headwinds in the broader crypto market largely attributable to macroeconomic pressure.

Crypto Today: Bitcoin, Ethereum, XRP weaken further as capital outflows persist

Macroeconomic headwinds continue to weigh heavily on the cryptocurrency market on Friday, prompting major assets like Bitcoin (BTC) to pare earlier gains and extend losses after June’s brief relief rally.

Bitcoin Weekly Forecast: Recovery hopes fade after the Fed spoils the party

Bitcoin is set to end the week in the red, trading near the 200-Week Simple Moving Average at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds point to a sixth consecutive week of outflows.

Sui risks a deeper bearish leg despite on-chain resilience

Sui is down 2% on Friday, extending its decline toward the recent support leg formed at $0.6618. The Total Value Locked in the Sui ecosystem has stabilized around 600 million SUI tokens, reflecting resilient user demand.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.