Today, January 17, 2025, we notice an interesting movement in the prices of digital currencies, led by Bitcoin (BTC), which has crossed the $104,500 barrier, suggesting that there is great momentum in the market. This rise was driven by great expectations regarding the adoption of a reserve of Bitcoin by the United States, which could lead to a significant reduction in its supply, as the US government will have to buy one million Bitcoins over five years. This idea has caught the attention of many analysts, such as Alex Baker, who expects the price of Bitcoin to reach $250,000 and may reach $400,000 if this adoption occurs. As for the analyst Willy Clement, he went further and predicted that the price of Bitcoin would reach one million dollars if countries adopted this idea.

However, with all this long-term optimism, there are those who expect Bitcoin to remain in the $90,000-$100,000 range in the coming weeks before witnessing a new breakout. However, the truth remains that there is a very high chance of achieving unprecedented price levels if these expectations are realized.

Major cryptocurrency price analysis:

Bitcoin ($BTC )
The most popular cryptocurrency broke the resistance at $102,724 on January 17, indicating the end of the temporary correction. The 20-day moving average ($97,533) has started to turn higher, while the Relative Strength Index (RSI) has entered the positive zone, giving priority to buyers. If the momentum continues, the price could rise to $108,353, but if this barrier is broken, there is a strong possibility of reaching $126,706. However, if the price drops below $90,000, the situation will be different, and the market will witness a bearish trend.

Ethereum ($ETH )
Ethereum is in a state of fluctuation between the moving averages. If it manages to break the $3,745 level, we will have a chance to make new highs towards $4,094. On the other hand, if the price returns and declines below the current level, we may see a drop to $2,850.

XRP
After a strong rally to $2.91 on January 15, XRP could see a slight correction. If the price tests the $2.91 level and bounces from it, there could be a chance of a rally towards $4.84. But if the price breaks this level downwards, it would mean a pullback towards $2.59.

Solana ($SOL )
Solana has shown strength in recent days, and if the positive momentum continues, the price could reach $247, before heading towards $260. However, if the momentum weakens, a return below $200 could be an indication of underperformance.

Dogecoin (DOGE)
Dogecoin is now in a bullish mode after crossing the $0.40 barrier. If the price continues to rise, it may reach $0.48, but if there is a correction, it may drop to $0.30.

Cardano (ADA)
Cardano is facing strong resistance at $1.12. If this level is broken, there is a chance of a rise towards $1.33, and if the rise continues, the price can reach $1.64.

Avalanche (AVAX)
Avalanche has shown bullish signs after crossing the 20-day moving average, and if this trend continues, the price may test the $45 level, and if it is crossed, we may see a rise towards $56.

Chain Link (LINK)
Chainlink has seen a significant turnaround after the breakout at $20, and now some are expecting the price to head towards $26, and if it is broken, there is a possibility of a rise to $31.

Stellar (XLM)
Stellar is now trading near the $0.48 resistance, and if it breaks, the price could rise towards $0.64, and if it breaks this level, we could see $0.86.

Overall, the markets are going through a very critical phase, with some currencies like Bitcoin making strong moves, while others are waiting for significant breakthroughs to make new leaps.

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