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BTC, SOL and ADA Price Analysis for January 7

Sat, 01/07/2023 - 15:20
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Denys Serhiichuk
Which coins can keep rising next week?
BTC, SOL and ADA Price Analysis for January 7
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The weekend has started with the rise of the majority of the coins.

Top 10 coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has risen by 1.14% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, the price of Bitcoin (BTC) is approaching the important interim resistance level at around $17,000.

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BTC, ETH and XRP Price Analysis for January 6

If the daily closure happens near it, the breakout may lead to a midterm rise to the $17,400-$17,600 zone as enough strength has been accumulated for that.

Bitcoin is trading at $16,922 at press time.

SOL/USD

The rate of Solana (SOL) is going up faster than Bitcoin's (BTC), rising by 2.60%.

SOL/USD chart by Trading View

Despite today's rise, the price of Solana (SOL) does not seem ready for further growth. This statement is also confirmed by declining volume, which means that buyers are not willing to buy at the current prices. In this case, the more likely scenario is a correction to the $12.50 zone next week.

SOL is trading at $13.25 at press time.

ADA/USD

Cardano (ADA) is not an exception, growing by 1.82%.

ADA/USD chart by TradingView

Cardano (ADA) is looking similar to SOL, however, its price remains in the bullish zone while the rate is above the support at $0.2708. If buyers can hold this mark, there is a chance to see a false breakout followed by a fast bounce back.

ADA is trading at $0.2727 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.