Crypto analyst Trade PSH has revealed the major Bitcoin support levels to watch out for as BTC bulls push for a rally to the psychological $100,000 level. The analyst also mentioned what price levels Bitcoin could reach in the short term as it breaks above $100,000. 

Bitcoin Support Levels To Watch Out For As Bulls Push For $100,000

In a TradingView post, Trade PSH stated that the local maximum is $99,450 as bulls are repeatedly trying to push the price above $100,000. The crypto analyst also mentioned that the nearest key support zone comes in between $95,000 and $96,600. This aligns with a recent Bitcoinist report that highlighted the $96,000 level as a crucial support zone. 

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While the Bitcoin price is moving above this support zone, Trade PSH stated that the primary scenario is continued growth for the flagship crypto. If Bitcoin maintains an uptrend and eventually breaks above the psychological $100,000 level, the crypto analyst predicts that the intermediate growth target is between $102,000 and $102,757. 

Based on the current price action, the analyst suggested that Bitcoin could rally to $108,366. This would mark a new all-time high (ATH) for the flagship crypto, as its current ATH is $108,268. Meanwhile, Trade PSH mentioned that a drop below $94,300 would invalidate this trade setup. 

The analyst’s accompanying chart showed that the Bitcoin price could break above $100,000 and reach these short-term targets before the year ends. While that remains to be seen, it is worth mentioning that January 2025 provides a bullish outlook for the flagship crypto. 

Pro-crypto Donald Trump is set to take office on January 20, which could lead to the creation of the Strategic Bitcoin Reserve. Historically, Bitcoin also enjoyed a price recovery in January 2021 of the last bull run. As such, history could repeat itself again. 

BTC Is Heading Higher

In an X post, crypto analyst Titan of Crypto also provided a bullish outlook for the Bitcoin price, stating that the flagship crypto is heading higher. His accompanying chart showed that Bitcoin could rally to as high as $158,000 by May 2025. The chart also showed a price target above $220,000, suggesting that the flagship crypto could rally even higher. 

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Titan of Crypto alluded to a bullish pennant, which he suggested was still in play for the Bitcoin price. This massive bull pennant is forming in the monthly timeframe, and if it plays out, the crypto analyst is confident that Bitcoin will enjoy a parabolic rally to this price target. 

At the time of writing, the Bitcoin price is trading at around $98,100, down in the last 24 hours, according to data from CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com

The Cardano price action has continued to stall below the $1 mark in light of corrections in the past seven days. This correction, which played out across the entire crypto industry, saw Cardano break below the $1 mark again on December 18%. 

Although the broader trend suggests a possible move on the weekly timeframe towards a new all-time high (ATH), recent technical analysis on TradingView has opened up the possibility for a continued correction towards $0.43 before another strong upward move.

Current Price Movements Highlight Resistance And Cooling Period

According to technical analysis of the Cardano (ADA) price action on the weekly candlestick timeframe, the cryptocurrency has encountered notable resistance around the $1.2046 mark. This resistance has emerged after Cardano’s remarkable 205% surge from $0.4322 in late October to $1.32 in late November. 

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Interestingly, this remarkable price surge saw Cardano form significant lows that serve as support levels for the price. Furthermore, the rally ended up with Cardano entering the overbought zone on the Relative Strength Index (RSI) indicator. The rally culminated in the Cardano price peaking at 82.87 on the RSI, but it has since retraced into a cooling/corrective period where buying pressure is consolidating at the time of writing.

Cardano’s consolidation has opened up outlooks as to its next direction, with substantial buying volumes observed in recent trading sessions.

Deep Correction Could Test Critical Support At $0.43

While the long-term outlook remains bullish, the analysis highlights the scenario of a deep correction that could send the Cardano price falling further in the short term. With this in mind, the analyst points to support levels that ADA may revisit in the event of a deeper correction. The first key level at $0.7683 has already proven its significance, acting as a reactionary zone in recent price movements.

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Below this, $0.4322 stands as the ultimate support for the current bullish leg. What this means is that ADA has to hold above the $0.43 support level in order for a bullish trajectory to remain valid. Failure to hold above $0.43 is likely to cascade into more price declines at this point and a change into bearish outlook.

The analyst also identifies $0.3166 and $0.2427 as primary supports. These levels are Cardano’s lowest support during the previous bear market and are considered less likely to be breached in case of a longer-term decline.

Despite the potential for a deep correction, Cardano’s recent market behavior and buying trends suggest a promising long-term outlook. At the time of writing, ADA is trading at $0.912 and has increased by 2% in the past 24 hours. Once the current resistance at $1.2046 is cleared, ADA is well-positioned to challenge its $3.09 all-time high and possibly establish new highs in the current cycle.

Featured image created with Dall.E, chart from Tradingview.com

A crypto analyst has set an ambitious target between $7 and $13 for the XRP price, basing his predictions on the Elliott Wave theory and Fibonacci levels. According to the analyst’s price chart, Wave 2 and 5 could push XRP to these key targets, marking new all-time highs for the cryptocurrency. 

XRP Price Roadmap To New ATHs

The XRP price has been on a rather lengthy consolidation trend, halting its previous price momentum after hitting the $2.5 mark. Despite facing bearish trends and a drop to $2.2, a crypto analyst on TradingView, ‘Zerpcrypto,’ has shared a bullish forecast for the popular altcoin.

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According to the analyst, XRP could experience a significant price increase between $7.4 to $13.5. The analyst based his bullish projections on XRP’s recent price action and the Elliott Wave theory, a technical analysis tool that identifies predictable patterns in crypto prices and helps forecast market trends. 

Zerpcrypto shared a 2-year XRP price chart from 2014 to the present; labeling wave counts from one to five for the larger cycles and sub-waves within these cycles. The analyst’s chart indicates that XRP is currently in the middle of Wave 3, signaling a potential upward move. 

With Wave 2 already complete, Zerpcrypto anticipates that Wave 3 could trigger a strong price rally, potentially propelling XRP to $7.4. After reaching the Wave 3 target, a minor pullback is expected in Wave 4, allowing the market to consolidate before XRP’s final big push upward into Wave 5. In this last wave, XRP could rise to $13.5 and potentially even surge as high as $27.4. 

In addition to the Elliott Wave theory, Zerpcrypto‘s predictions are grounded in Fibonacci levels. The projected $7.4 and $13.5 XRP price targets align with the 4.236 and 8.618 Fibonacci extension levels respectively, reinforcing the analyst’s bullish outlook. 

Zerpcrypto has also spotlighted a positive Moving Average Convergence Divergence (MACD) for XRP, further strengthening his confidence in the cryptocurrency’s projected $7.4 to $13.5 price target. 

Crypto Whales Buy 40 Million XRP

Despite XRP’s price drop to $2.25, a 13% decline over the past week, whales continue accumulating large amounts of tokens, viewing the price dips as a potential buying opportunity. Crypto analyst Ali Martinez revealed in a recent X (former Twitter) post that whales have bought another 40 million XRP in the last 24 hours. 

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A crypto community member has speculated that this large-scale purchase could signal that whales may be positioning themselves for significant change in XRP. Typically, a surge in whale buying activity often suggests increased confidence in the bullish outlook of a cryptocurrency.

With XRP’s price surging over 4X from its previous low of $0.5 to surpass $2.2 in just two months, analysts are forecasting continued gains as the bull market gains momentum. 

Featured image created with Dall.E, chart from Tradingview.com