XRP, HBAR, BGB, and XMR are flashing bullish signals as Bitcoin looks for direction.

Bitcoin (BTC) rises above $95,000, indicating that bulls are maintaining buying pressure. Grayscale research director Zach Pandl told Cointelegraph that Bitcoin is “held back by the strength of the U.S. dollar,” but with the U.S. presidential inauguration just around the corner, he expects this setback to be short-lived. I did it. Pandl sees a “structurally optimistic outlook for crypto valuation.”

One of the bullish events receiving attention is the possibility of securing strategic Bitcoin reserves in the United States. CoinShares said in a blog post that if the Bitcoin Act passes, it “will have a more profound long-term impact on Bitcoin” than the launch of a physical Bitcoin exchange-traded fund in 2024.

But not everyone is optimistic in the short term. Analyst Willy Woo said in an X post on January 10 that Bitcoin sentiment “seems very bullish.” However, a “cautious approach” is needed because the risk peaks and “there may be more profits to be made before it properly resets.” ”

Could Bitcoin rise towards $100,000, pushing some altcoins higher? Let’s take a look at a chart of the top five cryptocurrencies that could perform well in the short term.

Bitcoin Price Analysis

Bitcoin’s recovery faces resistance at the 20-day exponential moving average ($96,190), but buyers are not giving ground to the bears.

Bulls will again try to push the price above the moving average. If that happens, the BTC/USDT pair could reach a downtrend line where sellers are expected to put up a strong defense. If the price falls sharply away from the downtrend line, there is a risk that it will form a triangle pattern with the price closing below $90,000.

Conversely, breakouts and closes above the downtrend line are a sign that buyers are back in the game. The pair could rise to $102,724 and eventually reach $108,353.

Bulls are trying to keep the price above the 20-EMA. If you can succeed, you can rise to the 50 simple moving average and then to the downtrend line. If the price falls from the downtrend line but bounces back from the 20-EMA, this would suggest a change in sentiment from selling on the bulls to buying on the dips. This increases the chances of breaking above the downtrend line.

This optimistic view will be invalidated if the price declines from current levels and falls below $90,000.

XRP Price Analysis

XRP (XRP) broke and closed above a symmetrical triangle pattern on January 11, indicating that uncertainty has been resolved in favor of the bulls.

The 20-day EMA ($2.34) has started to rise and the RSI is in positive territory, suggesting that the bulls are in favor. If the price stays above the triangle, the XRP/USDT pair may rise to $2.73 and later to $2.91. Sellers are expected to aggressively defend the $2.91 level, but if the bulls prevail, there could be a surge towards the pattern target of $4.84.

Bears would need to push the price back below the 20-day EMA to dampen the bullish momentum. The pair will signal a deeper correction for a break below the support line.

The pair is likely to retest the breakout level of the triangle. When the price bounces from the breakout level, it is a sign that the bulls are trying to turn the level into a support level. This increases the chances of a break above $2.60. The pair could then rise to $2.73.

Conversely, a breakout and close below the triangle can trap an aggressive uptrend. The price could then fall to $2.20 and later support. Buyers are expected to fiercely defend the area between $2.20 and support.

Ivy Price Analysis

Hedera (HBAR) is forming a bearish descending triangle pattern, which is completing on the break and closing below $0.24.

A small positive in favor of the bulls is that they did not allow the price to fall below the 50-day SMA ($0.27). If the price is strong near current levels or the 50-day SMA, it is a sign of lower demand. The HBAR/USDT pair may rise towards the downtrend line. Breakouts and closes above the downtrend line will tilt the price in favor of buyers. The pair could then rise to $0.38.

Conversely, a drop below the 50-day SMA indicates increasing selling pressure. This could push the pair towards the $0.24 support level.

Moving averages intersect each other, indicating high volatility and random movement. If the price stays below the 20-EMA, the bears will attempt to pull the pair down to $0.26. This is an important level for bulls to defend, as a break below this level could send the price down to $0.24.

Buyers need to push and hold the price above the 50-SMA to gain strength. This could open the opportunity for a retest of the downtrend line. If this level is removed, the pair could rise to $0.34.

relevant: Here’s what happened in the cryptocurrency industry today

Bitget Token Price Analysis

Bitget Token (BGB) is showing a strong upward trend. Buyers have been buying dips near the 20-day EMA ($6.10), indicating sentiment remains positive.

The bulls are trying to push the price up to $8.50, while the bears are expected to put up a strong defense. If buyers break above $8.50, the BGB/USDT pair could rise to $10.

Instead, if the price falls from the current level or overhead resistance, this would be a profit booking signal for the bulls. The bears will then attempt to break below the 20-day EMA once more. If successful, the pair could fall to $5.50.

The price is expected to fall to 20-EMA, attracting the attention of buyers. A strong bounce from the 20-EMA increases the chances of a break above $7.50. If that happens, the pair could rise to $7.86 and later to $8.50.

Contrary to this assumption, if the price continues to move lower and falls below the 20-EMA, it means that the bullish trend is losing strength. The pair may fall to the 50-SMA and later to $6. This may delay the start of the next uptrend.

Monero Price Analysis

Monero (XMR) has been trading between the 50-day SMA ($191) and the $207 resistance level for several days.

The XMR/USDT pair formed an ascending triangle pattern, which completed on the break and closed above $207. If that happens, the pair could rebound towards the pattern target of $225.

This positive view is invalidated in the short term if the price declines and falls below the uptrend line. This would invalidate the bullish setup and pull the price towards the solid support at $180. Buyers are expected to aggressively defend the $180 level.

The pair broke the overhead resistance of $203, which indicates that the bulls are trying to take control. There is some resistance at $207, but a crossover is likely. The pair could move to $220 and later to $225.

The first downward support level is at $193. If this support is broken, the pair could fall to $188. This move suggests that the pair may extend its stay within the $180-$207 range for a few more days.