As the market eagerly anticipates the inauguration, today’s crypto analysis offers a snapshot of key movements and potential targets for Bitcoin, Ethereum, Binance Coin, and USDT dominance. Let’s break it down:
Bitcoin (BTC): Holding Steady Amid Key Support Zones
BTC is currently holding at a key support level of $100,032. If this level fails to hold, the next target is $96,187, with no daily candle closures expected below. On the upside, BTC has upward targets at:
- $107,949
- $117,466
- $136,499
This analysis uses the daily timeframe to filter out noise, providing a clear view of the market trajectory.
Ethereum (ETH): The Sleeping Giant Prepares to Awaken
Ethereum recently retested the $2,979 price zone without closing below $3,100, which aligns with the 0.786 Fibonacci level. Support has been found at $3,130. Historically, ETH performs well during Q1 and pumped significantly when Trump won the elections last year.
If ETH enters price discovery, we could see it rally towards the following targets:
- $6,865
- $10,454
- $17,633
Additionally, Layer 2 solutions and ETH staking coins are expected to perform well as ETH gains momentum.
Binance Coin (BNB): Consolidation Before Breakout?
BNB has been consolidating between $677 and $680, with only wicks below and no candle closures. Key levels to watch:
- Downside Support: $666.51
- Upside Targets: Breaking resistance at $712 and $729 could lead to price discovery with targets of $813, $914, and $1,117 as micro-level targets.
USDT Dominance: A Critical Alt-Season Indicator
USDT dominance has been consolidating for some time. A break below 3.80% is needed for a full-fledged alt season to commence. Key levels to monitor:
- First Major Stops: 2.73% and 2.15%
- Upside Risk: If USDT dominance rallies due to market volatility, it may reach 4.26% and 4.38%. No daily candle closures above 4.38% are expected. If dominance rallies, altcoins will likely continue to dip.
BTC Dominance: A Potential Market Dip Ahead?
BTC dominance has been forming higher highs and higher lows since December 12, 2024. Currently, it’s at a key support level of 58.67%. A daily candle closure above 59.22% could lead to significant market dips, adding to the inauguration-driven volatility.
Trump Coins and Inauguration Meme Coins
Currently, liquidity is being siphoned from altcoins as investors flock to Trump-related and inauguration-themed meme coins. This has caused rapid bleeding in the altcoin market. However, these conditions are temporary, and normal market behavior is expected to resume soon. In the meantime, brace for heightened volatility.
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