Bitcoin (BTC) has remained relatively stable over the weekend, signaling that neither the bulls nor the bears are placing significant bets on a directional move. Nick Forster, founder of on-chain options protocol Derive, noted in a Jan. 25 analyst note, “The market sees limited upside for the asset in the short term, likely due to the absence of a specific BTC reserve announcement.”
A more optimistic projection came from CryptoQuant contributor IT Tech, who shared in a Jan. 24 analyst note that long-term Bitcoin holders (LTHs)—those holding Bitcoin for over 155 days—have continued to buy on declines, while short-term holders have purchased during rallies. This behavior has led IT Tech to adopt a bullish stance on Bitcoin for the next 12 months. However, analysts remain divided on Bitcoin’s near-term prospects, and the outlook for an altcoin season is similarly uncertain. While some anticipate that altcoins will start to outperform in 2025, Crypto analyst Ali Martinez holds a differing view. Martinez mentioned in a post on X that the massive supply of 36.4 million altcoins—compared to fewer than 3,000 during the 2017-2018 altseason—lowers the probability of sustained altcoin outperformance.
Bitcoin Price Analysis
Bitcoin is currently caught between the 20-day exponential moving average (EMA) of $101,493 and the resistance level at $108,353. With the 20-day EMA trending upward and the Relative Strength Index (RSI) in positive territory, the path of least resistance appears to be upward. A break and close above $109,588 could signal the start of the next leg of the uptrend, potentially pushing the BTC/USDT pair to $126,706. However, if the price declines from the overhead resistance and breaks below the 20-day EMA, it may suggest that the pair will remain range-bound between $90,000 and $109,588 for a few days. Sellers would need to push the price below the $90,000 to $85,000 support zone to gain control.
On the four-hour chart, the BTC/USDT pair has been trading between $100,000 and $109,588 for the past few days. The flattening 20-EMA and the RSI near the midpoint show indecision, with neither bulls nor bears having a clear advantage. A break and close above $107,250 could push the pair toward the resistance at $109,588. If this level is surpassed, the price may rise to $119,176. On the downside, a break below $100,000 could bring the price down to $90,000.
Solana Price Analysis
Solana (SOL) has been facing a tug-of-war between the bulls and the bears near the $260 level. The upsloping 20-day EMA ($232) and the RSI above 65 suggest that the bulls have the upper hand. A close above $273 could trigger a rally to $296, with the potential for further gains to $375 if this level is surpassed.
However, if the price declines and breaks below $229, it may signal that the pair could drop to the 50-day simple moving average (SMA) of $212, and possibly to $180.
On the four-hour chart, the SOL/USDT pair has formed a symmetrical triangle pattern, indicating uncertainty regarding the next move. A break and close above the triangle could lead to a rise to $296, followed by a further push to $312. Conversely, if the price breaks below the triangle, the pair could experience a deeper correction, with support at $229 and further downside to $206.
Chainlink Price Analysis
Chainlink (LINK) has faced selling pressure at $27.41, but buyers have managed to retain most of the ground. The 20-day EMA ($23.91) is rising, and the RSI is in positive territory, suggesting that the bulls have the edge. A rise above $27.41 could push the price toward $31, with the potential for further gains to $33.36.
If the bears manage to pull the price below the moving averages, it could open the door for a decline to the critical support level at $20, where buying interest is likely to emerge. On the four-hour chart, LINK/USDT has formed a symmetrical triangle pattern, signaling indecision. If buyers manage to push the price above the triangle, the pair could rally to $27.41 and potentially higher. However, if the price breaks below the triangle, the next support could be at $22.19.
Mantra Price Analysis
Mantra (OM) surged above the $4.63 resistance on Jan. 26 but is struggling to maintain the higher levels. If the price closes below $4.63, the bears may try to pull the OM/USDT pair toward the moving averages. This would suggest that the pair could remain range-bound between $4.63 and $3.39 for a while.
Alternatively, if the price closes above $4.63, it could indicate that buyers are in control. In this case, the next target would be $5.11, followed by $5.87 and $6.32. The four-hour chart shows a pullback below the breakout level of $4.63, indicating that the bears are still active. Buyers are expected to defend the $4.40 to $4.20 support zone. If the price rebounds from this support zone and breaks above $4.63, the bulls may push the price toward $5.11. Conversely, a break below $4.20 would suggest that the breakout above $4.63 could have been a bull trap.
Raydium Price Analysis
Raydium (RAY) resumed its uptrend after breaking above the $6.50 resistance on Jan. 18. 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 and potentially move higher to $10. The key support level is at $6.50. A break below this level could signal that the bulls are retreating, potentially pushing the price to the 50-day SMA of $5.51.
On the four-hour chart, the pullback is finding support at the 50-SMA, signaling that buyers are accumulating on dips. A break above the 20-EMA could indicate strength and push the price to $8.31 and then to $8.70. On the downside, a break below the 50-SMA could lead to a decline to the breakout level of $6.50 and possibly to $5.89.
Conclusion:
Bitcoin’s current consolidation phase is creating mixed sentiment, with traders awaiting further direction. While altcoins such as Solana, Chainlink, Mantra, and Raydium show bullish signs, Bitcoin’s next move could significantly impact the broader market sentiment. Altcoins may perform well in the near term, but their long-term outperformance remains uncertain given the large supply of altcoins in circulation.
FAQs:
What is Bitcoin’s short-term outlook?
Bitcoin is currently squeezed between the 20-day EMA and resistance at $108,353. A break above $109,588 could trigger a new uptrend, while a dip below the 20-day EMA could signal a range-bound phase.
Which altcoins are showing bullish signs?
Solana, Chainlink, Mantra, and Raydium are all showing bullish signs, with potential for further gains if key resistance levels are cleared.
What factors could affect the altcoin market?
The large supply of altcoins and market conditions surrounding Bitcoin’s performance could influence whether altcoins outperform in the near future.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
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