NOIDA (CoinChapter.com) — Bitcoin (BTC), Hedera (HBAR), and Horizen (ZEN) have attracted investor attention with their recent market performances. BTC continues to dominate headlines as it inches closer to the $100,000 mark, while HBAR capitalizes on strong trading volumes and innovative developments to reach a three-year high.
ZEN, meanwhile, benefits from increased institutional interest following the launch of the Horizen Trust by Grayscale. These tokens have demonstrated resilience and growth potential amid bullish market sentiment, fueled by strategic partnerships, technological advancements, and optimistic price predictions.
Bitcoin Price Struggling Against $100k Barrier
The Bitcoin (BTC) daily chart suggests a consolidative phase following its rally toward $100,000. The price is trading below $101,200, near the 0.618 Fib level, which now acts as resistance. Meanwhile, BTC has established support near $98,622, underpinned by steady buying interest at this level.
The moving averages indicate a bullish market structure as the price stays above them, suggesting continued momentum. However, the RSI at 55.65 reflects a neutral zone, indicating room for upward movement without being overbought. Notably, a declining volume trend could suggest a weakening bullish momentum.
BTCUSD daily price chart with RSI. Source: TradingviewBreaking above the immediate resistance level could result in the BTC price targeting the resistance near $113,823. On the downside, losing $98,622 could push BTC toward the support near $82,895.
Moreover, failure of the immediate support level could result in the token testing the support at nearly $71,380 before recovery.
The broader macroeconomic environment appears favorable for Bitcoin (BTC), as recent US inflation data fueled dovish market sentiment. Core CPI rose 3.2% year over year in December, slightly below expectations and the slowest pace since last August. This prompted markets to price in the first Federal Reserve rate cut by July 2025, advancing from earlier predictions for September. Historically, expectations of rate cuts drive risk-on sentiment, which often supports Bitcoin’s price growth.
The dollar index (DXY) also slipped below 109, signaling weakened dollar strength. This often correlates with bullish momentum for Bitcoin as investors seek alternative stores of value. Falling Treasury yields, particularly in the 5-10-year segment, further reflect improved investor confidence in risk assets, including BTC.
Michael Brown, Senior Research Strategist at Pepperstone, noted that President-elect Trump’s upcoming policy announcements could spark market volatility. Combined with easing inflationary pressures, these developments may set the stage for Bitcoin to continue its upward trend.
HBAR Price Continues Rallying
Hedera (HBAR) price rose to a daily high near $0.375 on Jan. 16, reflecting a 38% spike since Jan. 13’s low of $0.27. Recent developments, such as the project’s Asset Tokenization Studio, enable streamlined issuance and management of tokenized assets, while updates to its smart contracts have improved network usability. These have bolstered the network’s appeal. Hedera partnered with Chainlink to enhance DeFi infrastructure and SEALSQ to explore quantum-resistant blockchain technology.
HBAR reached a three-year high of $0.39 in December 2024, driven by institutional activity. Accounts holding over 100 million HBAR increased by 20% since Aug. 2024. Market participants expect HBAR to reach $5 by mid-2025 if bullish market conditions persist, while others foresee more modest growth depending on broader market trends. The token’s trajectory hinges on breaking resistance levels and sustaining trading volumes.
HBAR USD daily price chart with RSI. Source: TradingviewHowever, the HBAR USD pair’s recent rally failed to push the token past the resistance near $0.4. Flipping the immediate resistance could help the token target the resistance near $0.461 before retreating.
HBAR’s relative strength index could play spoilsport to the bulls’ plans, as the metric is dangerously close to the overbought threshold with a score of 67.56 on the daily charts. Overbought RSI levels could force HBAR price to test the support levels near $0.3 and $0.24.
Strategic Growth and Market Momentum: What’s Next for Horizen (ZEN)?
Horizen Labs recently appointed Gwendolyn Regina as Regional Vice President for Asia and Andy Bryant as Chief Strategy Officer, underscoring its commitment to expanding its footprint in Asia, now the leading region for blockchain development. Regina, formerly of Binance, brings two decades of leadership experience, while Bryant, with his extensive blockchain background at bitFlyer and Vektor, aims to drive strategic initiatives and innovation.
These developments align with Horizen Labs’ broader goals, including the upcoming Mainnet launch of Horizen 2.0 in H1 2025. This upgrade focuses on zero-knowledge (ZK) cryptographic solutions, enhancing efficiency, security, and scalability. The company’s engagement with Ape DAO and Horizen DAO further demonstrates its commitment to decentralized innovation, attracting significant attention from institutional players.
On the macroeconomic front, easing inflation in the UK and the prospect of rate cuts in 2025 improve global risk sentiment.
Meanwhile, ZEN is in a corrective phase after a 61.6% bull run since Jan. 14 helped the token reach a daily high near $32.7 on Jan. 15. The price drop on Jan. 16 seems likely due to profit booking by traders. The price remains above the 20-day EMA, marking an important support level near $26.45 while indicating that bulls are attempting to retain control.
Moreover, ZEN has immediate resistance near $34. Flipping this resistance could see the asset target the next resistance zone near $39. On the downside, losing the $26 support level would open the door to a deeper correction, potentially toward $22, aligning with the 23.6% Fibonacci retracement level.
The RSI is hovering near 58, reflecting moderately bullish momentum, though not overbought. Meanwhile, the moving averages (50, 100, and 200 EMA) suggest a bullish structure as the price remains well above them.
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