Crypto Price Prediction For January 9: HNT, BONK, TIA

09.01.2024

Crypto Price Prediction: The crypto market is regaining momentum as the development towards approval of spot Bitcoin ETFs progresses. On Monday, the leading cryptocurrency Bitcoin witnessed a significant inflow which surged its value 6.7% to hit $47355 for the first time since March 2022.

On January 8th, leading organizations such as BlackRock, Bitwise, and Fidelity, alongside Grayscale in its S-3 filing, revealed the proposed fee structures for their respective spot Bitcoin ETFs through updated S-1 filings. Following this, SEC representatives gave their responses just hours later, focusing on small-scale adjustments within the amended S-1 documents.

Additionally, Bloomberg’s ETF analyst, James Seyffart, shared his insights on X (previously known as Twitter) on Tuesday. He anticipates more updates to the S-1 and S-3 filings in the upcoming days. Seyffart clarified that these anticipated revisions or comments are not necessarily a delay signal.

Thus, it could mean that the regulatory body is moving swiftly towards possibly approving a Bitcoin spot ETF this week.

By press time, the glocal cryptocurrency market capitalization now stands at $1.72 trillion, reflecting a 5.22% rise since the previous day. Moreover, the total volume of cryptocurrency transactions has surged to $81.49 billion, marking a significant 38.33% increase. Currently, Bitcoin holds a dominance of 53.25% in the market, which is a 0.55% uptick from the day before.

Amid the uptick in the crypto market, coins like Helium (HNT), Celestia (TIA), and BONK showed the highest growth accenting their potential for further rally.

Helium(HNT) Price Post-Correction Rally to See 52% Surge

Helium(HNT) Price| TradingView Chart

Amid the increasing uncertainty in the crypto market regarding Spot Bitcoin ETF approval, the Helium coin price entered a new correction mode in late December. From a high of $9.62, the coin price tumbled nearly 50.6% to test a support trendline around the $4.75 mark.

This ascending trendline is a visual representation of the current recovery trend in the HNT price, providing key pullback support during the market correction. On January 8th, the coin price witnessed its third reversal from the support trend line, which surged its price to 37.5% in the last 48 hours to currently trading at $6.56.

If the recent price jump closes a daily candle above 38.2% Fibonacci retracement level at $6.5, the HNT price would gain additional support to resume recovery. With sustained buying this post-correction rally coin surged the HNT price another. 47% to rechallenge $9.6 high. Until the rising support trend line is intact, the Helium could maintain a recovery time.

Amid this rally, this altcoin could regain a $20-day EMA slope, offering an additional edge to market buyers.

Maturity of a Correction Trend Hints BONK Price to regain $0.00002

BONK Price| TradingView Chart

The Solana-based meme cryptocurrency BONK entered an aggressive correction mode in mid-December when the price reverted from a $0.000035 high. This retracement tumbled the coin’s market value by 71.64% to hit a low of $0.00000992 mark.

This correction evaporated nearly 75% of the gains the coin holders acquired during the November-December rally in BONK price, reflecting an aggressive bearish momentum. However, the following price has taken a halt at $0.0001 psychological support and rebounded the coin price 38% in the last two days.

This sharp upswing could be attributed to the recent listing announcement by the OKX crypto exchange on January 8th. A look at the 4-hour time frame chart shows this recovery has also breached the resistance trendline of a falling channel pattern, indicating an end-of-correction trend.

Under the influence of this pattern, the BONK price should bring immediate resistance of $0.0000135, offering a better confirmation of upcoming recovery. The post-recovery would also try to chase a potential target of $0.0000175, followed by $0.0000216.

Celestia (TIA) Price Espace From Uncertainty Will Hit $20

For nearly a month, the Celestia (TIA) price has traded sideways, resonating within the two trendlines of broader wedge pattern formation. In theory, the two diverging trend lines reflect increasing uncertainty among market participants and no initiation from bulls or bears in such assets.

However, amid indecisive sentiment in the crypto market, the TIA coin price showed its sustainability above the $2.50 mark with a long-tailed rejection candle on January 8. The renewed buying interest triggered a 12.5% intraday jump, teasing a bullish breakout from the upper boundary of the wedge pattern.

This potential breakout would reflect higher conviction from buyers which could signal the continuation of prevailing recovery. The post-breakout rally could surge the price by nearly 24% to hit the psychological level of $20.

The daily RSI slope above the 60% mark reflects a recovery sentiment returning to this asset.