Biggest Bitcoin (BTC) Price Test Incoming, XRP Remains Dominant: Eyes For $3.5, 45% Solana (SOL) Pump Might Be Only Beginning 

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Crypto Market ReviewMon, 20/01/2025 – 0:01Cover image via www.freepik.comDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.AdvertisementWith a recent break above a crucial resistance level close to $102,000 Bitcoin is still gaining ground. Although this move suggests that the asset is once again strong a significant test is still ahead as Bitcoin gets closer to a crucial psychological and technical barrier at $105,000. A favorable macro environment and rising trading volumes have helped Bitcoin maintain its upward trend over the past week. BTC is reclaiming the 50, 100 and 200 EMA’s on the daily chart indicating that the bullish trend is still in place. With an RSI of 63 the market is showing moderate strength but still has room to rise before reaching overbought territory. The $105,000 mark is a formidable obstacle.BTC/USDT Chart by TradingViewIn order to maintain its current rally Bitcoin must decisively break through this strong resistance level which is in line with earlier peaks on the chart. The market may reach $110,000 a level not seen since the start of the last significant bull run if this breakout is successful. A retracement with support levels at $98,000 and $95,000 might occur if the price fails to break $105,000. These levels which were once important resistances are now serving as solid support areas which could reduce Bitcoin’s downside risk. Since BTC’s recent price action suggests growing institutional and retail interest, the general market sentiment is still cautiously optimistic. In the medium term, the macroeconomic environment which anticipates slower interest rate increases contributes to the optimistic outlook for Bitcoin. AdvertisementThe most important level to keep an eye on for traders and investors is the $105,000 mark. Strong volume combined with a clear move above this area could support the bullish argument for Bitcoin and pave the way for future gains. Failure to hold above $105,000 however might indicate a brief halt in the rally. XRP PrevailsFollowing its recent breakout above $3, XRP is still demonstrating its dominance in the cryptocurrency market and has a lot of momentum. The asset is still firmly positioned as a key performer despite some setbacks thanks to robust trading volumes and advantageous on-chain metrics. The price of XRP has risen over the last few weeks surpassing significant resistance levels. Its advance toward $3 and higher was sparked by its breakout from the consolidation pattern at about $2.5. The asse