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Crypto Price Prediction: On Wednesday, the crypto market witnessed some ease in selling pressure as the leading cryptocurrency <a href="https://coingape.com/blog/why-bitcoin-price-is-falling-today/" rel="noopener noreferrer nofollow">Bitcoin</a> attempts to regain its value above $40000. Therefore, a majority of major coins are trying to hold their ground’s respective support maintaining the overall trend bullish.
In a recent update from blockchain analytics platform Lookonchain, <a href="https://coingape.com/grayscale-facing-intense-backlash-for-market-meltdown-heres-why/" rel="noopener noreferrer nofollow">Grayscale</a> has transferred an additional 15,222 BTC (approximately $588.5 million) to Coinbase, creating concern among market participants for another sell-off.&nbsp;
This latest transaction brings Grayscale’s total BTC transfers to Coinbase Prime to 79,213 BTC, or $3.27 billion, since the ETF was approved. The tweet also highlights Grayscale’s current BTC holdings are at 535,755 BTC, valued at about $20.68 billion.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Grayscale deposited 15,222 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($588.5M) to <a href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CoinbasePrime</a> again 10 mins ago.<a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> has deposited 79,213 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($3.27B) to <a href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CoinbasePrime</a> since the <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETF</a> was passed, .
 According to Arkham, <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> currently holds 535,755 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> ($20.68B).<a href="https://t.co/CdjVrnKSYx" rel="noopener noreferrer nofollow">https://t.co/CdjVrnKSYx</a> <a href="https://t.co/Oq9RglF7Fz" rel="noopener noreferrer nofollow">pic.twitter.com/Oq9RglF7Fz</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1749801176621846958?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 23, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Thus, with the possibility of further correction still intact, market participants may find suitable trading opportunities in coins such as Solana (SOL), Stacks (STX), and Dogecoin (DOGE).
<h2 id="b-why-solana-sol-price-is-set-for-40-rally-b">Why Solana (SOL) Price is Set for 40% Rally</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/c/ckJpC2gm.png" alt="Solana (SOL) Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Solana (SOL) Price| TradingView Chart
 </figcaption>
</figure>
<a href="https://coingape.com/markets/solana-price-prediction-will-market-correction-push-sol-below-60/" rel="noopener noreferrer nofollow">SOL</a>, the Native token of the Solana ecosystem, has been under a correction trend for over a month, witnessing a price drop from $126 to $79. This 37.5% decline brought SOL price to a 38.2% Fibonacci retracement level- which is solid support for buyers’ interest in pullback trading.
Moreover, a look at the daily time frame chart shows this correction is part of a longer chart pattern called Cup and handle, commonly found at market bottoms. The <a href="https://coingape.com/price/solana/" rel="noopener noreferrer nofollow">Solana price</a> currently trades at $87.17 with an intraday of 3.5%.
Under the influence of this chart setup, the SOL price must witness sustainable growth and surge 44% to neckline resistance at $125.
A successful breakout above this barrier will signal a better signal of trend reversal.
<h2 id="b-healthy-retracement-sets-stacks-stx-price-for-new-recovery-b">Healthy Retracement Sets Stacks (STX) Price for New Recovery</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/d/d9e4FnHh.png" alt="Stacks (STX) Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Stacks (STX) Price| TradingView Chart
 </figcaption>
</figure>
Amid the current correction trend in the crypto market, the <a href="https://coingape.com/price/stacks/" rel="noopener noreferrer nofollow">Stack (STX) Price</a> rally has witnessed a sharp V-shaped reversal from the $2.06 resistance. Within two weeks, the coin price dumped nearly 36.5% to hit the combined support of $1.3 and 50% Fibonacci retracement level.&nbsp;
The newfound support at a health retracement has surged the coin price 13.8% to currently trade at $1.47. This foothold is suitable for buyers to counter-attack as traders must wait for a reversal pattern to give a better signal.&nbsp;
If the correction trend recuperates the exhausted bullish momentum, the <a href="https://coingape.com/sponsored/chatgpts-price-forecast-for-stacks-stx-pullix-plx-and-dogecoin-doge-in-q1-2024/" rel="noopener noreferrer nofollow">STX</a> price may rise 18.3% to hit immediate resistance at $1.74, followed by $2.06.
<h2 id="b-dogecoin-doge-price-escape-from-consolidation-will-trigger-30-surge-b">Dogecoin (DOGE) Price Escape from Consolidation Will Trigger 30% Surge</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/5/5x52sUIs.png" alt="Dogecoin (DOGE) Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Dogecoin (DOGE) Price| TradingView Chart
 </figcaption>
</figure>
Defying the current market sell-off, the largest meme cryptocurrency <a href="https://coingape.com/dogecoin-rises-9-is-xs-dedicated-payment-page-fueling-the-surge/" rel="noopener noreferrer nofollow">Dogecoin</a> token price showcased its suitability above the combined support of $0.075 and 61.8% Fibonacci retracement levels. The renewed demand pressure at strategic pullback support shifted the declining trend sideways, with the DOGE price currently trading at $0.08.
The daily time frame chart shows the <a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a> is resonating between $0.0877 and $0.075, creating a narrow consolidation. If the coin price manages to break above the resistance trendline, the buyers could lead 33% to hit the neckline resistance of the long-coming symmetrical triangle.
<h3 id="related-articles">Related Articles:</h3>
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The post <a href="https://coingape.com/markets/crypto-price-prediction-today-january-24-sol-stx-doge/" rel="noopener noreferrer nofollow">Crypto Price Prediction For January 24: SOL, STX, DOGE</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction For January 24: SOL, STX, DOGE

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Altri articoli pubblicati su 24 gen 2024

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