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01/27 02:01

SOL, LINK, OM, and RAY flash bullish signs  As

SOL, LINK, OM, and RAY flash bullish signs 

As Bitcoin traders wait for BTC’s next move

Bitcoin price analysis

Bitcoin is squeezed between the 20-day exponential moving average ($101,493) and the overhead resistance of $108,353.

The rising 20-day EMA and the relative strength index (RSI) in the positive territory indicate the path of least resistance is to the upside. A break and close above $109,588 could signal the start of the next leg of the uptrend. The BTC/USDT pair may surge to $126,706.

Contrarily, if the price turns down from the overhead resistance and breaks below the 20-day EMA, it will suggest that the pair may remain range-bound between $90,000 and $109,588 for a few days. Sellers will have to yank the price below the $90,000 to $85,000 support zone to gain the upper hand.

The 4-hour chart shows that the pair is trading between $100,000 and $109,588 for the past few days. The flattening 20-EMA and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. 

A break and close above $107,250 could push the pair to the overhead resistance of $109,588. If this level is cleared, the pair may climb to $119,176. On the downside, a break and close below $100,000 could sink the pair to $90,000.

Solana price analysis

Solana has been witnessing a tough battle between the bulls and the bears near the $260 level.

The upsloping 20-day EMA ($232) and the RSI above 65 indicate buyers are in command. A close above $273 could open the doors for a rise to $296. This level may pose a strong challenge, but if cleared, the SOL/USDT pair could rise to $375.

This optimistic view will be negated in the near term if the price turns down and breaks below $229. The pair may then drop to the 50-day simple moving average ($212) and eventually to $180.

The pair has formed a symmetrical triangle pattern on the 4-hour chart, indicating uncertainty about the next directional move. The bulls will seize control on a break and close above the triangle. That could propel the pair to $296 and later to $312.

On the contrary, a break and close below the triangle will signal the start of a deeper correction. The pair may drop to the solid support at $229, but if this level gets taken out, the next stop may be at $206.

Chainlink price analysis

Chainlink is facing selling at $27.41, but a positive sign is that the buyers have not ceded much ground to the sellers.

The 20-day EMA ($23.91) is turning up, and the RSI is in positive territory, indicating that the bulls have the edge. If the price rises above $27.41, the momentum could pick up, and the LINK/USDT pair may rally to $31 and subsequently to $33.36.

If bears want to prevent the upside, they will have to yank the price back below the moving averages. That will open the doors for a fall to the critical support at $20, where buyers are expected to step in.

The 4-hour chart shows the formation of a symmetrical triangle pattern, indicating indecision between the bulls and the bears. If buyers push the price above the triangle, the pair could rally to $27.41. This level may act as a stiff barrier, but if buyers overcome it, the pair could climb to the pattern target of $28.81.

This positive view will be invalidated in the near term if the price turns down and breaks below the triangle. The pair may then slump to $22.19.

MANTRA price analysis

MANTRA surged above the $4.63 overhead resistance on Jan. 26, but the bulls are struggling to sustain the higher levels.

If the price closes below $4.63, the bears will try to pull the OM/USDT pair toward the moving averages. If they manage to do that, it will suggest that the pair could remain inside the $4.63 to $3.39 range for some more time.

Instead, if the price closes above $4.63, it will indicate that the buyers are in control. The bulls will then try to overcome the barrier at $5.11, starting the next leg of the rally to $5.87 and, after that, to $6.32.

Raydium price analysis

Raydium resumed its uptrend after breaking out of the $6.50 resistance on Jan. 18, indicating that bulls are in control.

The RAY/USDT pair pulled back from $8.70 but is finding support at the 38.2% Fibonacci retracement level of $6.95. If the price rises above $8, the pair could retest the $8.70 resistance. A break and close above this level could catapult the pair to $10.

The $6.50 level is the crucial support to watch out for on the downside. A break and close below $6.50 will suggest that the bulls are rushing to the exit. That could pull the pair down to the 50-day SMA ($5.51).

#BTC price hits a new high of $120,000! #Tariffs Crash Crypto#Share Your Thoughts on Popular Assets in March

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