Bitcoin price moving above $100K could cause SOL, SUI, ICP and ENA to rise.

Bitcoin (BTC) is up about 4% this week, indicating strong demand at lower levels. US Bitcoin exchange-traded funds (ETFs) saw outflows of $242.3 million on January 2, but rebounded with a vengeance on January 3, with inflows of $908.1 million, according to Farside Investors. This suggests that investors expect Bitcoin to continue its rise.

Another positive for Bitcoin is that the selling pressure may be waning. According to CryptoQuant data, Bitcoin exchange revenue – the total amount of Bitcoin transferred to exchanges – has declined from a peak of 98,748 Bitcoin on December 25. Similarly, the flow of miners has decreased since the November 11 peak, when miners sent 25,367 bitcoins to exchanges.

However, recently, Bitfinex analysts told Cointelegraph that Bitcoin may end up between $95,000 and $110,000 by the end of January. The analysts do not expect the inauguration of US President-elect Donald Trump on January 20 to act as “a significant price appreciation event”.

If Bitcoin rises above $100,000, select altcoins could rise. Let's take a look at the top 5 cryptocurrency charts that are likely to outperform in the near future.

Bitcoin price analysis

Bitcoin rallied on January 3 and closed above its moving averages, indicating that selling pressure is waning.

The bulls will try to strengthen their position by pushing the price above the terrible resistance at $100,000. If they succeed, the BTC/USDT pair could reach as high as $108,353. Sellers are expected to strongly defend the level, but if the buyers have their way, the pair could rally to $126,706.

Instead, if the price declines significantly below $100,000 and breaks below the moving average, it suggests consolidation in the short term. The pair can fluctuate between $90,000 and $100,000 for a few days.

The 20-point moving average on the 4-hour chart is trending higher, and the Relative Strength Index (RSI) is near 62, indicating that buyers have an edge. The price has fallen from the 20-EMA, and the bulls will then try to clear the upper barrier at $100,000. If they do, the pair could rise to $102,800 and then $105,350.

Conversely, a break below the 20-EMA will weaken the bulls. The pair may come down to the 50-easy moving average.

Solana price analysis

Solana (SOL) is facing resistance at the 50-day SMA ($219), but a positive sign that the bulls have not given much ground to the bears.

The 20-day EMA ($204) has started to rise, and the RSI is in the positive zone, indicating that buyers are dominant. If the price breaks from the current level or recovers from the 20-day EMA, the bulls will again try to push the SOL/USDT pair above the 50-day SMA. If they can pull through, the pair could rise to $234 and then to $247.

If the price declines and breaks below the 20-day EMA, this bullish outlook will be nullified. That could drag the price to the top line, indicating that bears are highly active.

The pair formed an ascending triangle pattern on the 4-hour chart, indicating that the correction may be over. If the price breaks below the 20-EMA, a retest of the $202 level is possible. Sellers need to price below $202 to maintain control.

Alternatively, a strong breakout above the 20-EMA or $202 support would improve a break above $220. If that happens, the pair could continue to rise towards the $229 pattern target.

Sui price analysis

The SUI (SUI) continued to rise after buyers pushed the price above strong capacity resistance at $4.96 on January 03.

The bears will try to trap the bullish bulls by pulling the price below the rejection level below $4.96. If they do that, the SUI/USDT pair may drop to the 20-day EMA ($4.49). Sellers need to break below $3.94 to signal that the pair is bullish in the near term.

On the contrary, a strong recovery from $4.96 indicates that the bulls will try to flip the level to support. That could start a rally to $6.28.

The pair bounced back from $5.36, indicating a possible retest of the $4.96 breakout level. The upward 20-EMA and RSI suggest that buyers are in control in the overbought zone. If the price breaks above the current level or returns from $4.96, it indicates buying on a dip. That increases the likelihood of a rebound.

Contrary to this assumption, a break and close below the 20-EMA suggests bulls are profit-booking. The pair may sink towards $4.60 and later towards the 50-SMA.

Related: Here's what's happening in crypto today.

Internet computer cost analysis

Internet Computer (ICP) rose above its moving averages on January 3, indicating a possible short-term trend reversal.

The recovery is facing a sell-off near $13, but the moving averages could act as strong support on the downside. If the price rebounds strongly from the moving averages, it indicates that the sentiment is positive. The ICP/USDT pair may rise to $14 and later to $15, where the bears are expected to mount a strong resistance.

If the price declines and breaks below the 20-day EMA ($11.23), this bullish outlook is invalid in the near term. The pair could drop to $9.60.

The pair has completed a higher ascending triangle pattern on the 4-hour chart, indicating that they are buying at lower levels. Buyers are expected to aggressively defend the 20-EMA. Doing so increases the chances of a rally above the $12.74 resistance. That could start a rally toward the target's $13.96 target.

The zone between the 20-EMA and $11.39 is expected to act as strong support. To signal a reversal, sellers need to push the price below $11.39.

Athena price analysis

Athena ( ESA ) has formed a cup and handle pattern, which will be completed at the break and close above $1.30.

The 20-day EMA ($1.04) has started to turn, and the RSI is in the positive territory, which indicates that it is beneficial for buyers. If bulls lift the price above $1.30, the ENE/USDT pair could rally to $1.52 and then to $1.72. A bullish setup pattern target is higher at $2.41.

Support on the upside is at $1.10 and then the 20-day EMA. A break and close below the 20-day EMA suggests that the bulls are losing their grip. Then the pair could drop to $0.88.

The bulls tried to push the price above $1.30, but the bears held their ground. The pair may drop down to the 20-EMA, which is an important level to watch out for. If the price rebounds strongly from the 20-EMA, it indicates that the bulls remain on the order. That improves expectations for a rally above $1.30.

Conversely, a break and close below the 20-EMA suggests that the bulls are taking profits. That can take the price to the 50-SMA.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.