Bitcoin price started a short-term downside correction from the $106,250 zone. BTC is consolidating above $100,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $106,250 zone. The price is trading below $103,500 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $104,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $100,000 support zone. Bitcoin Price Holds $100K Bitcoin price started a decent upward move above the $100,000 zone. BTC was able to climb above the $102,500 and $103,800 levels. A high was formed at $106,246 and the price recently started a downside correction. There was a drop below the $104,000 and $103,500 levels. Besides, there was a break below a key bullish trend line with support at $104,650 on the hourly chart of the BTC/USD pair. A low was formed at $99,538 and the price is now rising. There was a move above the 23.6% Fib retracement level of the recent decline from the $106,246 swing high to the $99,538 low. Bitcoin price is now trading below $103,800 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $102,000 level. The first key resistance is near the $103,000 level or the 50% Fib retracement level of the recent decline from the $106,246 swing high to the $99,538 low. A clear move above the $103,000 resistance might send the price higher. The next key resistance could be $104,650. A close above the $104,650 resistance might send the price further higher. In the stated case, the price could rise and test the $106,250 resistance level. Any more gains might send the price toward the $108,500 level. More Losses In BTC? If Bitcoin fails to rise above the $103,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $100,500 level. The first major support is near the $100,000 level. The next support is now near the $98,800 zone. Any more losses might send the price toward the $96,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $100,500, followed by $100,000. Major Resistance Levels – $103,000 and $104,650.

As XRP recovers from a notable dip in mid-December, technical analysis signals strong potential for further growth. Currently valued at approximately $3.23, XRP is positioned among the most robust performers in the cryptocurrency market, boasting an impressive 43% gain over the past month.  This price resurgence has propelled the market’s second-largest altcoin to a seven-year high, inching closer to its previous price record of $3.40, set in 2018. Bullish Projections For XRP Price  In a recent social media update on X (Formerly Twitter), market analyst Ali Martinez highlights the significance of XRP’s recent breakout from a month-long consolidation phase between $1.90 and $2.60.  Martinez notes that this price breakout has occurred within a symmetrical triangle pattern on the weekly chart, suggesting an optimistic trajectory for the altcoin. Related Reading: Ethereum Whales Double Holdings To 43% Post-Merge – Details The analyst projects a possible price target of $15 for XRP, which would represent a staggering increase of over 365% from its current valuation. Supporting this bullish outlook, XForceGlobal proposed a range of final targets for XRP, estimating potential prices between $7 and $12, with more ambitious projections reaching $20 to $40 and two potential routes for the altcoin’s price: Slower Route: This scenario anticipates a five-wave minor degree into an intermediate degree wave, followed by a wave 1-2 pullback.  If XRP can manage a controlled pullback in this phase, it would create a favorable environment for further bullish action. While this route may involve a deeper correction, the analyst asserts it ultimately promises the greatest rewards for long-term holders. Faster Route: In this scenario, the current five-wave ascent may already be part of a larger primary wave 5. While this route could still lead XRP to significant price levels around $7 to $12, it also suggests that the bull market may soon reach its conclusion. Expert Warns Of Potential Correction March Despite the optimistic projections, some experts, like Egrag Crypto, caution investors to remain vigilant. Egrag predicts a significant market correction could occur in March 2025.  However, the expert also emphasizes that the Relative Strength Index (RSI) remains bullish, indicating that XRP still has room for growth in the short term. He anticipates that XRP may reach price levels between $4 and $5 before any potential downturn. Related Reading: BNB Price Poised for Gains: Bulls Push for New Highs All around, XRP stands at a pivotal moment, and its journey from here could redefine its standing in the market. Whether through slower or faster routes, the future looks bright for XRP holders, provided they navigate the anticipated volatility with care. At the time of writing, the altcoin is down a slight 1.3% on the 24-hour time frame, trading at $3.23.  Featured image from DALL-E, chart from TradingView.com 

As Bitcoin (BTC) surges past $100,000 once again, edging closer to a new all-time high (ATH), most crypto analysts predict the premier cryptocurrency will peak around $150,000 during this market cycle. However, some experts argue that such a target is “too low” for BTC, considering its growing adoption and evolving market dynamics. $150,000 Target Too Low For Bitcoin Crypto trader Alex Becker recently took to X to share his thoughts on Bitcoin’s price momentum. The trader said that although the consensus points to BTC peaking at $150,000 this cycle, he believes that the target is “way too low and way too short.” Related Reading: Bitcoin Primed For A Major Rebound Following ‘Final Capitulation,’ Analyst Predicts Becker argued that at $150,000, Bitcoin’s market capitalization would only represent one-sixth of gold’s, leaving significant room for growth. He described the idea of BTC reaching merely one-sixth of gold’s market cap as “silly low.” At the time of writing, Bitcoin’s total market cap stands at $2.06 trillion. In comparison, gold commands a significantly larger market cap of approximately $18.5 trillion. As for why, the trader noted that unlike past market cycles, things are vastly different for BTC during the current cycle. The top cryptocurrency is poised to benefit from favourable regulations under Donald Trump’s administration, alongside increasing adoption by corporations and sovereign nations as a store of value. Becker projects that, driven by these factors, BTC could peak anywhere between $250,000 and $400,000. His outlook aligns with that of crypto analyst Will Clemente. In a recent post on X, Clemente noted that if a nation adopts Bitcoin as a strategic reserve asset, it could trigger a domino effect, compelling other countries to follow suit. Clemente elaborated: Once a nation adopts BTC as a strategic reserve asset, it becomes inherently nationalist to DCA into said asset. Then apply this to every nation on Earth that wants to keep its purchasing power simultaneously in game theoretic fashion. BTC Supply Crunch Nearing? As more corporations add Bitcoin to their balance sheets and speculation grows about the potential establishment of a US strategic Bitcoin reserve, the active supply of BTC may come under pressure. Related Reading: Bitcoin Reserve Idea Sparks Cautious Response From Japan PM: Report Crypto analyst Miles Deutscher recently pointed out in an X post that Bitcoin balances on crypto exchanges have hit a fresh seven-year low. Historically, reduced exchange supply correlates with sharp, parabolic price increases for the asset. Other projections estimate BTC could reach a peak of around $200,000 by the summer of 2025. At press time, Bitcoin is trading at $103,973, up 5.7% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com