Price Analysis January 16th, 2025 – BTC, SUI, XRP, ETH, and BNB
Bitcoin briefly crossed $100,000 on January 15th after the release of the US Consumer Price Index (CPI) data, which signaled that inflation was cooling. 21Shares’ crypto research strategist Matt Mena said the CPI was the final economic event that Bitcoin was waiting for before breaking above $100,000 and rallying further.
He expects the coin to close the month while trading above the all-time high ($108,302). Meanwhile, ARK Invest has reported that BTC’s monthly volatility last December was considerably low compared to its annual volatility, indicating that the digital asset hasn’t entered the mania phase, which is marked by strong bullish moves.
Several analysts remain bullish on Bitcoin in 2025, with some making bold price predictions. For example, crypto researchers at Hashkey Group said on Thursday that BTC could rise to $300,000 this year. Similarly, CryptoQuant analysts are optimistic that favorable monetary and regulatory policies could push BTC to over $145,000 before December.
In other news, chief investment officer at Fundstrat Capital, Tom Lee, told a CNBC report earlier this week that anyone who buys Bitcoin at prices below $100,000 is unlikely to lose money, claiming that the coin is poised to be the best-performing financial instrument in 2025.
Will the bulls push and sustain Bitcoin above $100,000 again? If so, which barriers on the upperside should we keep an eye on? Analyzing the price charts will help us find the answers.
Bitcoin Price Analysis
BTC’s price has been rising since bouncing off from $89,839 on January 13th. It reached $100,528 on Thursday and then dropped to $99,302 as of this writing. If the bulls keep Bitcoin above the 50-day Simple Moving Average of $97,681, we may witness a jump to $102,793 and later to $108,302.
While selling pressure is expected at $108,302, a journey to $126,700 could start if the bulls overpower the bears. On the contrary, a plunge below the 20-day Exponential Moving Average of $96,321 could put the $90,063 support at risk of collapsing, leading to a drop to $85,192.
Ethereum Price Analysis
ETH bulls have defeated the buyers at the 20-day Exponential Moving Average of $3,363.96, pushing the coin to $3,382 at press time. However, the bearish setup is still active until a rally above the 50-day Simple Moving Average of $3,548 happens.
If the setup gets invalidated, Ethereum could grow further, reaching the $3,744 resistance and subsequently surging to $3,905. On the other hand, if the bears pull and maintain ETH below $3,363.96, the support at $3,002.05 could crumble, allowing a move to $2,854.18, where we anticipate increased buying pressure.
XRP Price Analysis
XRP’s value has crossed $3 for the first time since 2018. The coin’s latest rally comes as reports indicate that Ripple executives met with incoming President Donald Trump. Moreover, there is growing hope that new SEC leadership could approve XRP spot ETFs this year.
If the rally continues, XRP could break above its all-time high ($3.39) and climb toward $4. Conversely, a break below the $2.91 support would signal increased profit booking. As such, a price correction to the 20-day Exponential Moving Average of $2.43 seems possible.
BNB Price Analysis
BNB climbed above the 20-day Exponential Moving Average ($698.32) on January 15th, suggesting solid buying at lower prices. If the bullish momentum is maintained, the chances of a strong uptrend to the $744.94 resistance will increase. Additionally, we anticipate a jump to $800 if the bears fail to guard that critical level.
Our bullish view will be nullified if $698.32 collapses. In that case, BNB could plunge to $635.83.
Sui Price Analysis
Sui rebounded from the 50-day Simple Moving Average of $4.34 on January 15th, reaching $4.66 at press time. The bulls will now try to push it to the $5.32 resistance and then to $5.81. On the other hand, if the bears manage to tug Sui below $4.34, a deep correction toward $3.93 could occur. Furthermore, a fall to $3.49 is likely if recovery doesn’t begin at $3.93.
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