January has yet to meet expectations for market participants. Although BTC sees new peaks, most altcoins remain victims of shallow liquidity. ETH price hovers around 3300 dollars. What are experts anticipating for the cryptocurrency markets? Let’s examine the current predictions and expectations surrounding cryptocurrencies.
Why Aren’t Cryptocurrencies Rising?
The first quarter post-halving typically brings more upward momentum for cryptocurrency investors. However, as January draws to a close, there has been little movement in altcoins. In today’s assessment, Michael Poppe noted that after a brief correction phase in cryptocurrencies, an upward trend should commence.
With Bitcoin
$105,728 maintaining above 98,000 dollars, the analyst’s bullish outlook persists. Additionally, with the weakening dollar and falling interest rates, he expects ETH prices to rise alongside altcoins.
Analyst Willy Woo discussed the need for Congressional approval on the Bitcoin Strategic Reserve (BSR), suggesting that issuing an executive order on opening day would be the quickest method. He emphasized evaluating success probabilities before proceeding with this initiative.
Negentropic, another analyst, stated that for momentum to continue, the BTC price must stay within the 101,500 to 102,500 dollar range. If not, it could revert to the 97,200 to 98,500 dollar range. According to his graph, closings above 106,000 dollars could lead to surpassing 108,000 dollars again, but this may require a consolidation period.
Several cryptocurrencies have fallen below early 2024 levels, leading to expectations of increased risk appetite in altcoins as five-digit prices are clearly left behind.
ENA Coin Commentary
Efloud provided a new update on ENA Coin after his previous assessment. Due to Trump’s DeFi project being among the altcoins, ENA Coin’s media visibility has surged recently. In his latest evaluation, the analyst wrote:
“The red box, blue box, and green box represent Range High (RH), Equilibrium (EQ), and Range Low (RL), respectively. I will track deviations and/or breakthroughs/breakdowns of EQ for more trading opportunities. I have also set an alert for interim support.”
