Bitcoin Price To Lead ETF-Driven Rally
Wondering whether it’s a good time to buy Bitcoin and crypto or look elsewhere for opportunities? Some top altcoins are standing out and promising outsized returns after the SEC approves spot BTC exchange-traded funds (ETFs) in the US.
Bitcoin showed strength, briefly breaking above $47,000. Altcoins like Ethereum, Solana, Lido, and more moved in tandem with BTC but the crypto rally cooled off on Tuesday.
The anticipated influx of capital into the market has the potential to drive demand for BTC to the roof, thus creating an environment suitable for a commendable breakout. Enhanced investor sentiment would be a catalyst for altcoins like Solana (SOL), Chainlink (LINK), and SEI to rally tremendously.
Top Altcoin Chainlink Confirms Breakout
Chainlink price climbed to $14.4 on Monday but encountered resistance at the falling wedge trendline, rolling back to $13.5. Investors could aim for dollar-cost averaging (DCA) ahead of an anticipated wedge breakout.
Post-pattern breakout, expect a volume surge to validate the trend reversal. Resistance lurks at $14, but a clean break opens the door for gains targeting $20+ highs.
Solana Price Holding Key Support Is An Opportunity
Solana is struggling to establish itself above support at $100 after scaling the heights from the previous buyer congestion level of $85.
A buy signal from the MACD indicator and the 50 Exponential Moving Average (EMA) supports a bullish outlook. If respected as support, the 50 EMA could give bulls another opportunity to push SOL price to $120 this week.
Can Dips In Sei Price Turn Profitable?
Sei price is trapped in a descending channel, ping-ponging between the channel’s lower and upper boundaries. The RSI reveals an intense bearish theory gaining momentum.
For an immediate rebound, Sei must hold above the 50 EMA close to the channel’s middle boundary support. This will offer bulls a chance to collect more liquidity and with subsequent green candles, more traders would jump on board anticipating another breakout.
Hot Take: Top Altcoins To Buy January 9: SOL, LINK, SEI
As the SEC approval of spot BTC ETFs approaches, altcoins like Solana (SOL), Chainlink (LINK), and SEI have the potential for significant rallies. Bitcoin’s strength and enhanced investor sentiment could drive demand for altcoins. Chainlink confirms a breakout with potential gains targeting $20+ highs. Solana’s key support at $100 presents an opportunity for bullish investors aiming for $120. Sei price battles within a descending channel, but dips could prove profitable if investors identify key entry points with the DCA strategy.
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