Bitcoin Price Prediction: As BTC Soars Past $100K With 3% Jump, Traders Buy This Solana Layer-2 ICO With 100X Potential

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The Bitcoin price jumped 3% in the last 24 hours to trade at $102,228 as of 7:00 a.m. EST on a 2% increase in trading volume to $55 billion.

This jump in the BTC price comes as US investors show renewed interest in the crypto market leader ahead of President-elect Donald Trump’s inauguration on Jan. 20.

$BTC open interest has sharply returned, after a holiday reset.

The bulls are back. pic.twitter.com/HBVEB4jSBQ

— Miles Deutscher (@milesdeutscher) January 17, 2025

Growing anticipation of pro-crypto policies from the incoming administration has added to this momentum, with potential key announcements expected on Trump’s first day in office.

This resurgence in US-driven demand could ignite the next leg of the bull market, benefiting both Bitcoin and altcoins.

Bitcoin Price Bounces Back On Strong Support Level

The BTC/USDT price action on the 1-day timeframe shows a mix of consolidation phases, bullish trends, and key support and resistance levels. Bitcoin initially established robust support at $74,392, near the 200-day Simple Moving Average (SMA), marking a turning point after a prolonged downtrend.

The 50-day SMA crossed above the 200-day SMA as well to form a “golden cross.” This event is a classic bullish signal, suggesting a shift in momentum toward the upside. Following this, Bitcoin entered a strong uptrend, moving in a parabolic curve as bullish momentum accelerated.

During the July to September period, Bitcoin consolidated within a descending channel, reflecting a period of indecision among traders. The eventual breakout from this channel marked the resumption of bullish momentum, leading to a sharp rally.

Bitcoin price

BTCUSDT Analysis Source: Tradingview

Bitcoin’s price surged past $100,000, reaching a critical psychological milestone. However, after rising above this level, BTC entered another consolidation phase, retesting the $97,813 support level, which aligns with the 50-day SMA. This retest formed a potential bullish reversal pattern, suggesting the possibility of a continued rally.

Bitcoin Price Could be Headed For $120,000

Currently, Bitcoin is trading at $102,228, and the RSI is at 61.56. This indicates a healthy bullish trend with momentum strengthening but not yet overextended, leaving room for additional gains. If a deeper correction occurs, key levels to watch include $97,813 as immediate support and $74,392 as a more significant support level.

On the upside, Bitcoin faces minor resistance at $110,000, with a target price of $120,000, which aligns with measured move projections and psychological resistance. The technical setup remains strongly bullish, but traders should monitor for any bearish divergences in the RSI or failure to hold above $97,813, which could signal weakening momentum.

The direction points toward further upside, with Bitcoin poised to continue its rally if current support levels are maintained.

Solana Layer-2 Rival Presale Closes On $11 Million – Best Crypto To Buy Now?

As the Bitcoin price looks to break above its all-time high,  investors are flocking to buy a new Solana-based meme coin and the first layer-2 solution on the Solana network called Solaxy (SOLX), which has raised over $10.9 million in presale funding.

Solaxy aims to solve one of Solana’s biggest problems: network congestion. It does this by introducing a new layer-2 solution that boosts Solana’s performance without changing its main structure. This will help alleviate computational stress on the main chain, making the network faster and more scalable.

Solaxy will support both $ETH and $SOL with its robust scalability, describing themselves as the "world's first solana L2" this one looks quite bullish!

With $SOLX you're getting into a new Layer-2 which has an exciting #memecoin flare to it 🚀

DYOR – https://t.co/UuZScpnmos pic.twitter.com/hzXiY5CDv8

— Jacob Crypto Bury (@BuryCrypto) January 2, 2025

Apart from fixing performance issues, Solaxy will also connect Solana with Ethereum. This will combine Ethereum’s security and liquidity with Solana’s speed and scalability, creating a new more powerful ecosystem. The combination will also make it easier for decentralized finance (DeFi) apps to work together, opening up new opportunities for both users and developers.

A crypto analyst from 99Bitcoins, a well-known YouTube channel with over 719K subscribers, says Solaxy could potentially soar 100x after its official launch.

Investors can buy SOLX tokens for $0.001604 each using BNB, ETH, USDT, or a bank card on the simple widget on the project’s website. In addition, investors can take advantage of the staking option for a huge annual return of 323%.

But hurry, as the presale price is set to increase in less than 48 hours.

Buy and stake SOLX here for the 323% APY.

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