Price Analysis January 31st, 2025 – BTC, ADA, XRP, ETH, and SOL - Tokenhell

Bitcoin’s price remains above the $100,000 crucial resistance, waiting for the next catalyst to propel it above the new all-time high of $109,548. Several analysts were optimistic that the Federal Reserve’s decision to keep interest rates unchanged would push BTC into new territory, but that didn’t happen.

Despite Bitcoin’s failure to cross $109,548, the head of research at Derive, Dr. Sean Dawson, says a downward move is limited, pointing to the firm’s latest report, which shows that the coin has a 9% probability of hitting $75,000 before March 31st.

BTC is ending January with a 12% gain. It is expected to rise further next month if history repeats itself. According to data from CoinGlass, the digital asset has recorded an average rally of 15% in February. Based on Bitcoin’s current price ($104,872), the coin could come close to $120,000 if the positive trend continues this year.

That said, let’s now study the charts to find vital resistance and support levels to monitor over the weekend.

Bitcoin Price Analysis

BTC has traded in a wide range (between the 50-day Simple Moving Average of $99,102 and $109,548) since January 20th. While the Relative Strength Index (47.98) isn’t showing an advantage to the bears or bulls, if a catalyst emerges and causes a breakout at $109,548, a jump to $118,000 and later to $126,700 becomes possible.

On the other hand, if Bitcoin reaches the 20-day Exponential Moving Average of $101,376 and the bulls let this critical level crumble, then the bears will be delighted to drag the coin to $95,215 and then to $90,018.

Ethereum Price Analysis

As other top ten cryptocurrencies by market cap struggle to rally today, Ethereum has risen by 4.2% to $3,351. Analysts at Cointelegraph believe ETH’s latest rally could be a sign that investors are leaving the Bitcoin market to focus on altcoins. But only time can tell whether this is the start of the ultimate altseason.

Meanwhile, the bulls need to push Ethereum above the 20-day Exponential Moving Average of $3,432 to strengthen their position. As such, the $3,765 resistance level could collapse, allowing ETH to climb to $4,090.12. Conversely, a reversal toward the 20-day Exponential Moving Average of $3,273 and then to $3,000.73 is possible if enough buying doesn’t happen at $3,005.

Although XRP is facing massive resistance at higher levels, the good news is that buyers have maintained it above $3. Furthermore, the rising Relative Strength Index (57.93) signals that the advantage is shifting to the bulls’ side, thus enhancing the likelihood of a surge to $4.050 and subsequently to $4.720.

However, the sellers could invalidate our positive view if they tug XRP below $3. In that case, the 20-day Exponential Moving Average of $2.927 could be violated, fueling a downtrend to the 50-day Simple Moving Average of $2.564.

Solana Price Analysis

While Solana has shed 10% of its value in the past seven days, it remains one of the top performers in January after rallying 25% thanks to Donald Trump’s meme coin launch on the blockchain earlier this month.

The token trades at $240.12, above the 20-day Exponential Moving Average of $229.58. The bulls will try to propel it toward $245 and then to $260.82, where aggressive selling is anticipated. On the contrary, if SOL drops below $229.58, it risks plunging to the 50-day Simple Moving Average of $213.06 or even to the $190.73 support.

Cardano Price Analysis

ADA has struggled to stay above $1 in January, signaling that bears are selling on every rally. If they continue applying pressure, they could improve their chances of pulling Cardano to $0.9042. What’s more, a solid drop below $0.9042 increases the probability of a move to $0.8074.

However, this bearish view will be invalidated if the bulls push and sustain Cardano above $1. As such, the $1.1812 resistance could break, allowing the buyers to trigger a rally to $1.3000.

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