XRP, the fourth largest cryptocurrency, has released its first bearish signal of the year, indicating a potential shift in market conditions. The development of the death cross pattern on XRP’s
With a market capitalization nearing $13 billion, it is clear that Shiba Inu (SHIB) has entered a stage of diminishing returns. Holding onto SHIB with the expectation of achieving the same price increases as seen in 2021 is unrealistic and may result in missing out on new, promising opportunities. This is why experienced SHIB investors are reallocating their funds into undervalued, low-cap cryptocurrencies such as Remittix (RTX), which has shown remarkable resilience during the recent market downturn. With its innovative PayFi protocol, Remittix is poised to become a major player in the cross-border payment industry and could potentially emerge as the next 50xinvestment opportunity. How Remittix Challenges The Multi-Trillion Behemoths In 2027, global payments are anticipated to grow significantly year after year. As the demand for comprehensive crypto-to-fiat solutions continues to rise, many traditional platforms like Wise and Stripe are struggling to meet the needs of a blockchain-centered economy. In contrast, Remittix (RTX) presents a compelling alternative specifically designed to connect traditional financial systems with decentralized finance (DeFi). Remittix democratizes cross-border payments with its innovative approach, allowing seamless conversion of over 40 major cryptocurrencies into the preferred fiat currency. Funds are then deposited directly into any bank account worldwide. This system not only streamlines the crypto-fiat process but also navigates local restrictions and complex regulations. Individuals in underbanked regions will be able to send and receive money with just a simple tap on their screens. This approach aligns with the core principles of decentralization and financial autonomy that are fundamental to crypto philosophy. At the same time, it positions Remittix as a leader in promoting widespread adoption, attracting investor interest, and paving the way for remarkable rallies in the coming months. Remittix's smart contract and the native $RTX token have been audited by leading blockchain security firms, ensuring compliance with the highest security standards. Additionally, 9% of the token supply and the liquidity pool have been locked, eliminating any potential for misconduct, protecting investors, and fostering a safe and transparent environment. Shiba Inu Stumbles But Support Is Holding Out, For Now With its vast ecosystem that encompasses major crypto niches such as DeFi and gaming, Shiba Inu has somewhat transcended its meme-coin status, becoming a viable store of value with real utility. However, the intense selling pressure has shaved off a significant portion of Shiba Inu’s recent gains. At the time of writing, Shiba Inu sells for $0.000021 following a 5% intraday decline, bringing its monthly losses to a total of 28.8%. While this current floor appears to be rock-solid, Shiba Inu has been locked in a trading range with its price fluctuating between support and resistance. On the other hand, according to trader and analyst Scient , now it’s the time to bid on Shiba Inu. He points out that right now Shiba Inu Is tapping into a high liquidity zone and that demand at this level is significant. This means that once consolidation is complete, this level could act as a springboard and catapult Shiba Inu above the $0.000028 resistance by the end of January. The Remittix Presale and the $RTX Token $RTX is the utility token for Remittix, empowering essential functions within the ecosystem, including governance and staking. Token holders can earn staking rewards of up to 8% APY, while Tier-3 VIP investors have the chance to earn up to 18% and enjoy enhanced voting privileges. Priced at an incredible $0.0193, the $RTX token presents a remarkable opportunity for early adopters to join the transformative journey of the Remittix revolution. With the project swiftly raising over $2.16 million, this is the moment to seize the advantage of this low price. Discover the future of PayFi with Remittix by checking out their presale here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Microsoft has announced a significant contribution of $1 million to the inauguration fund of President-elect Donald Trump, marking a strategic alignment with the political landscape. This donation follows a precedent
Key takeaways : Chainlink could reach a maximum value of $37.83 in 2025. By 2028, LINK could reach a maximum price of $116.57. In 2031, Chainlink will range between $302.79 to $366.22. Chainlink (LINK) emerged as a prominent player in the cryptocurrency market. It provides a decentralized oracle network that connects smart contracts with real-world data. As the adoption of decentralized finance (DeFi), and blockchain technology continues to grow, Chainlink’s innovative solutions have attracted significant attention from investors, and developers alike. Chainlink continues to expand its reach, and utility across the blockchain ecosystem, showcasing its robust integration capabilities. Recent updates highlight 14 new integrations of 5 Chainlink services across 10 different blockchain platforms, including prominent names like Arbitrum, Avalanche, and Ethereum. These integrations not only enhance Chainlink’s network but also solidify its position as a critical player in decentralized applications’ interoperability and functionality. Understanding Chainlink’s potential price movements involves analyzing market trends, technological advancements, partnerships, and overall market sentiment. This chainlink price history prediction aims to provide insights into its future performance by examining technical analysis, and fundamental aspects that could influence its value. Overview Cryptocurrency Chainlink Token LINK Price $22.59 Market Cap $14.42B Trading Volume $795.65M Circulating Supply 638.09M LINK All-time High $52.88 May 09, 2021 All-time Low $0.1263 Sep 23, 2017 24-hour High $22.82 24-hour Low $21.69 Chainlink price prediction: Technical analysis Metric Value Price prediction $ 36.21 (58.52%) Volatility 10.96% 50-day SMA $ 21.08 14-day RSI 48.40 Sentiment Neutral Fear & Greed Index 74 (Greed) Green days 14/30 (47%) 200-day SMA $ 14.59 Chainlink’s price analysis: Whale accumulation suggests recovery potential above $20.0 Key Takeaways Chainlink price analysis shows a downtrend after facing rejection at $21.50. Daily and 4-hour charts indicate sustained selling, with critical support at $19-$20. A continuation of the downtrend could push prices lower toward $18.50. Chainlink price analysis on January 9th shows (LINK) is trading at $19.9 6 , marking a 4.57% decline over the last 24 hours. Its trading volume has dropped by 22.85% to $825 million, while the market cap stands at $12.73 billion. Despite this short-term volatility, the asset maintained a crucial support level of around $20, suggesting sustained interest from investors, particularly large-scale participants such as whales. Recent on-chain data reveals a whale purchase of 77,127 LINK tokens at an average price of $24, equating to a $1.86 million investment. This transaction, executed using 506 stETH, highlights strategic accumulation at critical price levels. The whale’s remaining holdings of stETH and ETH suggest calculated diversification, underscoring confidence in LINK’s long-term potential. LINK/USD daily chart analysis: LINK faces sustained selling pressure near support levels The daily chart for LINK/USD shows a decline in price as the token trades near a key support zone of $19.00–$20.00. LINK has experienced a consistent downward trend following its peak near $25 in mid-December 2024. This correction aligns with broader market weakness, with LINK currently trading at $19.82 (-3.04%). LINK/USD 4-hour chart analysis: LINK faces key resistance at $20.50 The Relative Strength Index (RSI), at 40.18, reflects bearish momentum but remains above the oversold threshold of 30, suggesting that further downside is possible without immediate relief. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator remains in bearish territory. The MACD line is below the signal line, indicating sustained bearish momentum with no immediate reversal signals. Price action shows lower highs and lower lows, indicating a clear downtrend. LINK must maintain support above $19.00 to prevent a deeper correction toward the $16.00 level. LINK/USD 4-hour chart analysis: LINK faces key resistance at $20.50 On the 4-hour chart, LINK/USD displays continued weakness, with price candles closing below the key resistance of $20.50. The failure to breach this resistance has intensified selling pressure. The RSI on the 4-hour chart is slightly oversold at 40.33, suggesting a potential short-term consolidation phase before further downside. LINK/USD 4-hour chart The MACD on the 4-hour timeframe remains negative, with expanding histogram bars signaling increasing bearish momentum. The token needs a breakout above $20.50 to invalidate the current bearish structure and signal potential recovery. A continuation of the downtrend could push prices lower toward $18.50 in the short term. The $20 level has emerged as a critical support zone, absorbing selling pressure despite LINK’s recent correction from $30. This level aligns with the 50-day moving average, a key technical indicator, suggesting that a breach below this range could invalidate the bullish outlook in the short term. Conversely, a rebound from this support could catalyze a renewed rally toward $25 and $30. What to expect from Chainlink price analysis From a technical perspective, Chainlink’s immediate resistance lies at $21.50, with the next major hurdle at $25. On the downside, the $19.00 to $20.00 range is a strong support zone. A decisive break above $21.50 could trigger bullish momentum, aiming for $25 and potentially retesting the $30 level in the medium term. However, failure to hold the $20 support could result in a bearish continuation toward $18. Chainlink technical indicators: levels and action Daily simple moving average (SMA) Period Value Action SMA 3 $ 25.17 SELL SMA 5 $ 23.98 SELL SMA 10 $ 22.06 BUY SMA 21 $ 23.57 SELL SMA 50 $ 21.08 BUY SMA 100 $ 16.39 BUY SMA 200 $ 14.59 BUY Daily exponential moving average (EMA) Period Value Action EMA 3 $ 23.79 SELL EMA 5 $ 24.89 SELL EMA 10 $ 25.59 SELL EMA 21 $ 24.31 SELL EMA 50 $ 20.41 BUY EMA 100 $ 17.22 BUY EMA 200 $ 15.37 BUY Is Chainlink a good investment? Chainlink (LINK) is a decentralized oracle network crucial in connecting real-world data to blockchain systems. It has gained significant traction, forming strong partnerships and expanding its presence in areas like decentralized finance (DeFi) and tokenized assets. While it holds promising long-term potential and recent trends suggest a bullish outlook, it’s important to remember that the cryptocurrency market is highly unpredictable. If you’re considering investing, research thoroughly and carefully weigh the risks. Will Chainlink recover? Chainlink’s price has declined recently, with minor short-term recoveries; however, the move is gradual. The general trend remains bearish as it seeks support. Will Chainlink reach $50? Based on long-term forecasts, Chainlink (LINK) is projected to reach $50 by 2026 as its ecosystem and user adoption continue to grow. Will Chainlink reach $100? Chainlink can reach $100 in the year 2028, per expert predictions. Does Chainlink have a good long-term future? Chainlink shows some stabilization and potential for recovery, indicating the token may have a promising long-term future. Chainlink Recent News Ripple has partnered with Chainlink to enhance the utility of its RippleUSD ($RLUSD) stablecoin. By adopting Chainlink’s standard for verifiable and secure real-time pricing data, the partnership aims to drive broader adoption of decentralized finance (DeFi) solutions and improve access to reliable data for stablecoin applications. m0labs has integrated Chainlink’s SmartData suite to streamline the delivery of Net Asset Value (NAV) data on-chain for its decentralized stablecoin, M. This adoption aims to boost the transparency and efficiency of the M^0 protocol. Chainlink price prediction January 2025 For January 2025, Chainlink is primed for notable growth. The minimum projected trading price is $22.73, with an average of around $40.88. LINK is expected to attain a peak price of $48.10. Chainlink Price Prediction Potential Low Average Price Potential High Chainlink price prediction January 2025 $22.73 $40.88 $48.10 Chainlink (LINK) price prediction 2025 The market price for LINK is expected to reach a maximum of $37.83 in 2025. However, traders can expect a minimum trading price of $31.65 and an expected average trading price of $32.78. Chainlink Price Prediction Potential Low Average Price Potential High Chainlink price prediction 2025 $31.65 $32.78 $37.83 Chainlink price prediction 2026-2031 Year Minimum Average Maximum 2026 $46.78 $48.09 $55.01 2027 $66.79 $69.20 $80.52 2028 $99.74 $102.51 $116.57 2029 $146.74 $151.87 $172.37 2030 $210.35 $216.43 $258.02 2031 $302.79 $311.45 $366.22 Chainlink price prediction 2026 In 2026, Chainlink is expected to reach a maximum value of $55.01, a minimum price of $46.78, and an average value of $48.09. Chainlink price prediction 2027 In 2027, LINK’s average price is expected to be $69.20; its minimum and maximum trading prices are predicted to be $66.79 to $80.52, respectively. Chainlink price prediction 2028 The price of Chainlink is predicted to reach a minimum level of $99.74 in 2028. LINK can reach a maximum level of $116.57, and an average price of $102.51. Chainlink price prediction 2029 The Chainlink price prediction for 2029 suggests a minimum price of $146.74, a maximum price of $172.37, and an average forecast price of $151.87. Chainlink price prediction 2030 In 2030, Chainlink prediction expects LINK to reach a maximum value of $258.02, a minimum price of $210.35, and an average value of $216.43. Chainlink price prediction 2031 The price of Chainlink is predicted to reach a minimum value of $302.79 in 2031. If the bulls hold, investors can anticipate a maximum price of $366.22 and an average trading price of $311.45. Chainlink market price prediction: Analysts’ LINK price forecast Firm 2024 2025 Gov.Capital $24.68 $58.786 DigitalCoinPrice $49.83 $58.20 CoinCodex $ 22.84 $ 73.94 Cryptopolitan’s Chainlink price prediction According to our Chainlink price forecast, the coin’s market price might reach a maximum value of $37.83 by the end of 2025. In 2026, the value of LINK could surge to a maximum price of $55.01. Chainlink’s historic price sentiment Chainlink price history Chainlink launched at around $0.20, staying mostly under $1 throughout 2018, with moderate market cap growth. In 2019, LINK saw substantial growth, reaching $1 in May and peaking around $3 by year-end, driven by its utility in providing reliable data feeds for smart contracts. 2020 marked a breakout year as LINK surged from $2 to $20 by August, fueled by DeFi demand. In 2021, it reached an all-time high of around $52 in May but dropped to $22 by mid-year due to market volatility. In 2022, LINK ranged between $15 and $25 amid broader market corrections. In 2023, it further declined, stabilizing in the $6 to $13 range as investor sentiment cooled. Starting 2024 at $15, LINK briefly spiked to $18 in February before falling to $12 by April. The coin’s price has fluctuated throughout 2024, peaking near $15 in May, dropping to around $10 by August, and stabilizing between $10 and $12.28 in October. In November, LINK is trading within the range of $10.68 to $11.94. In December, LINK maintained a range of $18.43 to $30.94. In January 2025 Chainlink is trading at $22.9, indicating a slight correction from its late-2024 peak.
A High Court judge has dismissed James Howells’ legal effort to recover a hard drive containing access to Bitcoin worth £600 million ($739 million). The decision, handed down by Judge Andrew John Keyser KC, marks the end of a long-standing legal battle between Howells and Newport City Council over access to a landfill site in South Wales. Court Denies James Howell’s Claim on £600M Bitcoin An early investor in Bitcoin, James Howells, said that he threw away a hard drive with 7,500 BTC in it in 2013. The council countered that once the hard drive was in the landfill, it became the property of the council under the current disposal of waste laws. The court also heard that environmental permits did not allow digging the landfill to extract the device. According to the BBC report , Judge Keyser KC has dismissed Howells’ lawsuit stating that there are no reasonable grounds for the claim and there is no reasonable likelihood of success at trial. In the written judgment, the judge said that there was no good reason why the claim should be permitted to continue. Howells had several times presented Newport City Council with a piece of the Bitcoin, which he estimated could be worth over £1 billion ($1.2 billion) by 2026 if the council helped him access the hard drive. Environmental Concerns Block Landfill Access Newport City Council told the court that James Howell should not be allowed to use the landfill because it would be against the law. The landfill, which contains over 1.4 million tonnes of waste, cannot be excavated under the current permit. James Howells said that the search had been concentrated on an area that contained 100,000 tonnes of waste, where the hard drive was last known to be. However, the council argued that just trying to get the hard drive back could also be dangerous to the environment. The council’s legal representative, James Goudie KC, stated that the planned excavation would make the council have to “play fast and loose” with the environmental laws. The court supported the council arguing that a set of waste management legislation was more significant than Howells’ rights to the lost device. Bitcoin’s Value Adds Complexity James Howell bought the 7,500 BTC in 2009 when the currency was not very valuable. Since then, the value of Bitcoin has increased, and in recent years, it has touched historical market values. Between 2024 alone, the price of Bitcoin rose by over 80%, and Howells felt that he had to act faster and renewed the efforts to get his BTC back. At the time of the decision of the court, Bitcoin’s price was standing at nearly $95,000, thus making the lost wallet one of the most valuable single ownership of Bitcoins. Howells said that the lost funds could be a life-changing amount of money, but he could not retrieve the hard drive due to legal and regulatory restraints. However, Howells had said earlier that he was ready to wheel his case to the UK Supreme Court. However, with the dismissal of the claim, it is quite difficult for him to recover the lost Bitcoin. The James Howell case has drawn attention to the broader issue of lost Bitcoin and its potential effect on the cryptocurrency market. In a separate case, the United States government recently liquidated 69,370 BTC, worth $6.7 billion, seized from the Silk Road marketplace. Bitcoin’s volatility has also been highlighted, as the digital asset briefly fell below $93,000 following the recent liquidation. The post UK Court Denies James Howell’s Claim on £600M Bitcoin From Landfill appeared first on CoinGape .
Dogecoin (DOGE) has again found itself in the crosshairs of market watchers, with a “blood in the streets” moment emerging according to data from on-chain analytics firm Santiment. The firm’s latest research, shared on January 8 via X, highlights a series of negative MVRV (Market Value to Realized Value) ratios across the crypto landscape—encompassing Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Dogecoin. “Average trading returns are a great representation of whether ‘buying low’ or ‘selling high’ is actually the right timing,” Santiment stated, stressing that current on-chain metrics point toward an environment where many crypto assets are sitting in oversold territory. “When MVRV’s are negative, this means a buy or addition to your holding is doing so while others are already at a loss. Historically, these ‘blood in the streets’ moments are when professional traders make money,” Samtiment writes. The data Santiment published includes the 30-day MVRV ratios for four major assets as of January 8. Bitcoin’s MVRV ratio is at -3.73%, Ethereum’s at -7.71%, Cardano’s at -6.69% and Dogecoin’s at -8.89%. In simple terms, MVRV compares the total market capitalization of a cryptocurrency (its “Market Value”) with the total cost basis of holders (its “Realized Value”). A negative MVRV often indicates that the average holder is currently underwater on their position. Related Reading: 70 Million DOGE Make Their Way To Binance Amid 10% Dogecoin Price Crash For Dogecoin, the -8.89% MVRV ratio suggests that—on average—investors who acquired DOGE in the last 30 days are sitting on notable unrealized losses. This contrasts with BTC’s less pronounced -3.73%, indicating that Dogecoin’s short-term holders are, on average, deeper in the red relative to Bitcoin’s. Ethereum (-7.71%) and Cardano (-6.69%) also face negative territory, but their holders are faring slightly better than Dogecoin over the past month. Because DOGE’s MVRV is the most negative among the four mentioned, there is potential for a stronger recovery bounce if market conditions stabilize. However, it also underscores higher risk if broader crypto sentiment remains fragile. As Santiment noted, traders often scan for negative MVRV as a potential opportunity to “buy low,” but this is by no means a guarantee of immediate upside. Buy Or Sell Dogecoin Now? Santiment’s analysis further emphasizes how macroeconomic forces have accelerated the crypto market’s recent sell-off. On Tuesday, January 7, US bond yields surged following unexpectedly robust economic indicators, with the 10-year Treasury rising to 4.67%. Much of the market anxiety focused on the higher-than-expected ISM Prices Paid Index, a metric that can herald inflation, as well as a surprise uptick in the JOLTS job openings data. With signs of labor market tightness and possible inflation pressures, investors pivoted to risk-off strategies, hitting crypto assets across the board. Related Reading: Dogecoin Jumps 20%, But Social Media Still Bearish: Green Signal For Rally? “Crypto markets sink further, indicating short to midterm buy zones for most assets,” reads Santiment’s published chart. In this vein, Dogecoin’s current downturn lines up with the broader market narrative. If yields and inflation concerns continue to dominate headlines, we can anticipate more cautious capital flows into risk assets. Conversely, any signal of cooling inflation or a less restrictive Federal Reserve stance might catalyze a rally—one that could be amplified by negative MVRV ratios across the board. Nevertheless, the contrasting signals make for a tricky trading environment. On one hand, Santiment’s metrics point to advantageous historical conditions for those looking to accumulate, notably for DOGE at -8.89% MVRV. On the other, uncertain macro data—ranging from Treasury yields to inflation prints—could hamper any near-term recovery. For now, Santiment’s outlook is measured: “Do not assume these opportunity zone signals will lead to an immediate turnaround. But probabilities are pointing to at least a short to mid term turnaround for crypto shortly, assuming economic or geopolitical factors don’t get in the way.” At press time, DOGE traded at $0.33. Featured image created with DALL.E, chart from TradingView.com
Earlier this week, a Reddit post sparked a thoughtful discussion about artificial intelligence (AI) potentially adopting bitcoin in the era of artificial general intelligence (AGI). The conversation revolved around the idea that, as AI matches or surpasses human-level intelligence across a wide array of tasks, it might naturally turn to bitcoin as the leading cryptocurrency.
A shift in the landscape of financial markets suggests that Block (formerly Square) may soon join the ranks of Bitcoin holders in the prestigious S&P 500 index. Block’s ascent reflects
Ethereum’s price has dropped sharply this year after encountering substantial resistance at the $4,000 level in December. Ethereum ( ETH ) has declined by nearly 20% from its December high, coinciding with an ongoing sell-off in Bitcoin and other altcoins. The downturn has been partly attributed to outflows from Ethereum spot exchange-traded funds. On Wednesday, these funds saw net outflows of $159 million, following $86 million the previous day. However, despite recent outflows, Ethereum ETFs have attracted a net inflow of $2.5 billion since their approval in 2024. ETH’s decline has also coincided with a rise in exchange balances. According to CoinGlass, the number of ETH held on exchanges rose to 15.85 million on January 9, up from 15.3 million on December 30. An increase in exchange balances often indicates that investors are liquidating their holdings. Ethereum balances on exchanges | Source: Coinglass From a macroeconomic perspective, ETH has been impacted by surging U.S. bond yields amid a hawkish Federal Reserve stance. The 30-year bond yield climbed to 4.96%, its highest level since October 2023. Short- and medium-term bond yields have also continued to rise. Rising yields suggest that the market expects the Fed to maintain its hawkish approach due to persistent inflation concerns. You might also like: Circle donates $1m in USDC to Trump inaugural committee Ethereum price analysis ETH price chart | Source: crypto.news The weekly chart shows that ETH encountered significant resistance at the $4,000 level, which it has struggled to surpass since March of last year. Despite the recent pullback, the cryptocurrency remains above the 50-week and 100-week moving averages, indicating that bulls still maintain some control. Most notably, Ethereum is gradually forming an inverse head and shoulders pattern, a widely recognized bullish reversal signal. The “head” is at $2,155, while the “left shoulder” formed at $2,825. As long as ETH stays above the shoulders at $2,825, the bullish outlook remains intact. A confirmed breakout would occur if ETH moves above the neckline at $4,085. If this happens, the next levels to watch are the all-time high of $4,865 and the psychological milestone of $5,000. However, a drop below the right shoulder at $2,825 would invalidate the bullish view. You might also like: Cardano price could rebound 60% despite notable selling activity
The cryptocurrency market is in a correctional phase, with over $500 million liquidations made in the last 24 hours. The total value of the industry has now fallen below $3.4 trillion, almost reversing all the early gains of the year. Among the hardest-hit assets is Cardano (ADA), which has continued its downward trajectory, showing signs of weakness amidst a broader market pullback . At press time, ADA is down 8% over the last 24 hours, trading at $0.89. This marks a continued decline in the cryptocurrency’s price, which has been trending lower in recent days. Cardano (ADA) price chart | TradingView Cardano has been facing stiff resistance in its efforts to break through key price levels, and a weakening technical structure is contributing to growing bearish sentiment. User activity, TVL drop on Cardano network According to data from Artemis, Cardano’s user activity has sharply declined since early December. Daily active addresses on the Cardano blockchain have plummeted from 96,700 on December 3 to approximately 38,200 on January 9. Similarly, daily transactions have fallen from 144,300 to just 54,600 in the same period. Daily ADA Active Addresses chart. Source: Artemis The decline in user engagement is a worrying trend for Cardano, as it has historically been a key indicator of network health and potential growth. The falling activity could exacerbate ADA’s price weakness, further fueling the downturn. In addition to waning user engagement, the total value locked (TVL) on Cardano has also taken a hit. Data from DefiLlama shows a steep decline of over 31.5% in the TVL since early December, dropping from $708.9 million on December 3 to around $485 million at the time of publication. Between January 7 and January 9 alone, TVL experienced a sharp $105 million decline, representing an 18% decrease in less than 72 hours. Correlation with Bitcoin’s market movements Cardano’s price movement has largely mirrored that of Bitcoin (BTC) in recent months, with both assets consolidating around key support levels. However, if Bitcoin continues its correction in the coming weeks, ADA is expected to perform even worse, given its already weak technical indicators. Reports have emerged suggesting that the U.S. government is preparing to liquidate approximately 69,370 BTC seized from the Silk Road, adding to the market’s uncertainty. The US Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today Interesting situation less than 2 weeks away from the new admin who vowed to not sell https://t.co/HqD1KnhJK3 pic.twitter.com/xn8ATSEL7H — db (@tier10k) January 9, 2025 The political theatre between the outgoing and incoming US administrations, with President-elect Donald Trump vowing not to sell any Bitcoin held by authorities, adds complexity to the situation. On the ADA/USDT chart, the price has faced resistance around the $1.3 level and has recently started to slide towards the $0.75 support level. Analysts predict that if this level is breached, further declines toward the 200-day moving average around the $0.55 mark could be in play. ADA 200-daily moving average chart. Source: TradingRage. The ADA/BTC pair shows a similar trend, with the price consolidating for several months. If the 900 SAT support level breaks down, ADA could slide further toward the 200-day moving average around the 700 SAT mark or even lower. The indicators suggest that ADA may enter a prolonged downward phase if the overall crypto market sentiment remains negative. Analysts warn ADA could fall further Technical analysts are growing increasingly bearish on ADA’s near-term outlook. A pseudonymous analyst, Kwantxbt, warned in a January 9 post that ADA is showing significant weakness at the $0.92 level. The analyst advised traders to wait for confirmation of support around the $0.85 mark before considering any long positions. If ADA loses this support, it could plummet to the 200-week simple moving average (SMA) around $0.763, with the psychological $0.60 level being a potential target if the decline continues. ADA’s daily relative strength index (RSI) has also dropped from 63 to 44 in just three days, indicating increasing selling pressure, which could translate to a further price downtick for the asset. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.