Best Crypto To Buy January 17: BTC, DOGE, SEI

Pressure is mounting on Bitcoin to sweep through lower levels below $42,000. The largest crypto holds below all three major MAs applied to the four-hour chart, starting with the 20 Exponential Moving Average (EMA) (blue), the 50 EMA (red), and the 200 EMA (purple) compelling holders to stay on the edge not knowing whether to sell right away or hold on until BTC finally figures out the next move.

Support in the yellow band will continue to play a vital role in Bitcoin’s technical outlook. A rebound from this area would raise the stakes for the bulls. This, coupled with renewed interest could create a suitable environment for an anticipated climb toward $50,000.

Dogecoin Price Sweep To $0.08 Could Bolaters 25% Move

The current downtrend in Dogecoin price takes on a sideways shift as the buyers hold the fort at $0.75. This consolidation teases a reversal for meme coins if the buyers complete the double-bottom pattern. Despite the 8.5% decline over the past week, the DOGE price trend teases a reversal rally with a 30% upside potential. So, should you consider buying this meme coin or wait for the market slowdown to end?

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The Dogecoin price downturn extended into early 2024, as hopes for a rally fueled by the Bitcoin Spot ETF were dashed. This setback significantly impacted Doge value, which tumbled from its peak of $0.107 to find support at the crucial 200-day EMA level, marking a steep 25.5% decline.

On the flip side, a rejuvenation of positive sentiment towards this popular meme coin, possibly fueled by robust community backing, could pave the way for a bullish reversal.

Sei Network Rocket-Fast Rally Catches Momentum

Sei Network prediction is bullish amidst a commendable 5% upswing on Wednesday. As Bitcoin price fluctuates in a narrow range between $42,000 and $43,000, investors seem to be piquing interest in small-cap altcoins like Sei. This fast-growing blockchain project stands out as one of the world’s leading sector-specific Layer 1 blockchains for decentralized exchanges (DEXes). Currently, SEI eyes a medium-term target of $1, trading comfortably at $0.83 during US business hours.

Fueled by this price uptick, the market cap of SEI swelled by 3.3% to $1.9 billion, propelling it to the 44th spot among all cryptocurrencies, as per CoinMarketCap. A decisive close above $0.8 on the four-hour chart could pique investor interest, potentially triggering a wave of longs in anticipation of a breakout to $1.

The current neutral RSI of 57 suggests bullish hopes might need a reality check. While it may hold steady for now, further dips below the 50 midline and into the oversold territory could embolden sellers and dampen the recent optimism. This potential retracement would be a stark reminder of the underlying selling pressure lurking beneath the surface.

If push comes to shove, although unlikely, based on the prevailing technical structure, the Sei token could sweep liquidity at $0.65 to create the momentum for a rocket rise above $1.

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