Solana started a fresh increase above the $142 zone. SOL price is now 
consolidating above $142 and might aim for more gains above the $150 zone. SOL 
price started a fresh upward move above the $142 and $145 levels against the 
US Dollar. The price is now trading above $142 and the 100-hourly simple 
moving average. There is a bullish trend line forming with support at $140 on 
the hourly chart of the SOL/USD pair (data source from Kraken). The pair could 
extend gains if it clears the $150 resistance zone. Solana Price Starts Fresh 
Surge Solana price started a decent increase after it settled above the $135 
zone, like Bitcoin and Ethereum. SOL climbed above the $140 level to enter a 
short-term positive zone. The price even smashed the $142 resistance. The 
bulls were able to push the price above $145. A high was formed at $148, and 
the price is now consolidating gains. There was a minor decline below the 
23.6% Fib retracement level of the recent upward move from the $138 swing low 
to the $148 high. Solana is now trading above $142 and the 100-hourly simple 
moving average. Besides, there is a bullish trend line forming with support at 
$140 on the hourly chart of the SOL/USD pair. On the upside, the price is 
facing resistance near $148. The next major resistance is near the $150 level. 
The main resistance could be $155. A successful close above the $155 
resistance zone could set the pace for another steady increase. The next key 
resistance is $162. Any more gains might send the price toward the $170 level. 
Downside Correction In SOL? If SOL fails to rise above the $148 resistance, it 
could start another decline. Initial support on the downside is near the $144 
zone. The first major support is near the $143 level or the 50% Fib 
retracement level of the recent upward move from the $138 swing low to the 
$148 high. A break below the $143 level might send the price toward the $140 
support zone and the trend line. If there is a close below the $140 support, 
the price could decline toward the $135 support in the near term. Technical 
Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish 
zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is 
above the 50 level. Major Support Levels – $144 and $140. Major Resistance 
Levels – $148 and $150.

Solana (SOL) Escapes Resistance Zone, Rally Pressure Intensifies

As Bitcoin (BTC) breaks out of key resistance levels, an analyst suggests that 
the cryptocurrency is positioning itself for a move to higher levels and a 
retest of a crucial technical area in the coming weeks. Related Reading: 
Monero (XMR) Hits New $610 All-Time High – Veteran Trader Shares Silver-Like 
Setup Bitcoin Approaching Make-Or-Break Test On Tuesday, Bitcoin surged 2.5% 
to retest the $93,500 resistance level for the first time in a week. The 
cryptocurrency has been hovering between the $84,000 to $93,500 price range 
for three months and has failed to turn this level into support multiple 
times. Analyst Rekt Capital recently noted that the flagship crypto is near a 
“historic” test as it has begun to form “another technically decisive region” 
just above current price levels. The market watcher explained that BTC is 
approaching its dynamic Bull Market Exponential Moving Average (EMA) cluster, 
where the 50-week EMA and 21-week EMA are getting closer. This key cluster, 
currently located between the $96,000 and $97,500 levels, has historically 
been tested before a “meaningful crossover,” with the Bitcoin price 
overextending beyond the cluster. However, this has usually been followed by 
an unsuccessful confirmation of this region as support. “When that happens, 
the crossover itself often follows the bearish price event, rather than 
causing it, with the EMA cluster flipping into resistance from the underside 
and leading to downside continuation,” the analyst detailed. Notably, past 
cycles reveal that the 50-week and 21-week EMAs can move very close together, 
Rekt Capital wrote, emphasizing that they can even overlap for prolonged 
periods before a decisive crossover. Currently, Bitcoin has yet to retest and 
overextend beyond the two EMAs, but its historical performance suggests that 
it will likely occur. Moreover, BTC’s price is “positioning itself in a way 
that could allow for a springboard higher, potentially enabling a test of this 
cluster in the weeks ahead. The key question is timing.” BTC Price Breaks Out 
Of Key Resistances In his analysis, the market observer discussed BTC’s recent 
performance, which has seen a structural change despite the sideways price 
action. Last week, the cryptocurrency’s price closed above its multi-week 
downtrend, which has been serving as a major resistance point since late 
November. This marks “a small but notable technical milestone” as Bitcoin now 
holds above the November and December highs in the weekly timeframe, treating 
the previous resistance as support. In addition, the mid-zone of its local 
range, around the $90,500 level, is now “almost perfectly confluent with the 
former Downtrend, meaning the Downtrend that last week rejected price is 
beginning to act as layered support instead.” Therefore, if Bitcoin continues 
to hold the mid-range region, the price should be able to challenge higher 
levels and find a path toward $100,000. Rekt Capital added that, unlike 
previous retests, the most recent rejection from the crucial $93,500 
resistance was significantly shallower and shorter, suggesting that it was 
getting weaker. Related Reading: Top Bullish Predictions That Put XRP Price At 
New All-Time Highs Above $3.8 Now, the flagship crypto has successfully 
retested the downtrend breakout area as support and momentarily reclaimed the 
$93,500 resistance, surging above the $94,000 area once again. Ultimately, BTC 
will need to hold this area and close the week above $93,500 to “kickstart a 
breakout from the Weekly Range as per previous green circles,” the analyst 
concluded. As of this writing, BTC trades at $94,334, a 2.6% increase in the 
weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Bitcoin Nears ‘Historic’ Technical Test As Price Eyes $93,500 Barrier – What’s Next?

Ethereum is seeing a surge in new user activity even as ETH price action 
remains largely range-bound. According to a Jan. 13 post by on-chain analytics 
platform Santiment, Ethereum has recorded an average of 327,000 new wallets 
created per day…

Ethereum new wallet creation hits an all-time high of 327K per day — will ETH price follow?

Corporate Bitcoin treasuries expanded by 260,000 BTC in six months, three 
times the amount mined, with Strategy holding 60% of all corporate holdings.

Crypto treasury buying outpaces Bitcoin supply at 3-to-1

Prediction market Kalshi dominated trading volumes on Monday, accounting for 
two-thirds of the $701.7 million tally.

Cryptocurrency price in LKR