As a seasoned cryptocurrency investor with years of experience under my belt, I find myself intrigued by this analysis of various digital assets. It seems that the market is presenting us with some interesting opportunities, but let’s dive deeper into each coin to gain a better understanding.
Bitcoin (BTC) has experienced a significant surge from its weekly lows, pushing towards its record high of $104,088. According to VanEck, the cryptocurrency market’s bull run may reach its first peak in the early part of 2025. After this initial peak, they forecast a potential 30% decline for Bitcoin and a steeper dip of up to 60% for altcoins. The recovery is predicted to start in autumn, with major tokens picking up speed and reclaiming their previous record highs by the end of the year.
Another bullish voice was that of Bitcoin mining industry researcher Danny Marques, who studied Bitcoin’s three previous bull cycles. Marques believes that Bitcoin could reach between $173,646 and $461,135 in 2025, barring any macro deterioration like 2020.
Analysts predict that Ether, not just Bitcoin, will likely match its pace by surpassing previous records set in Q1 of 2025. According to Bybit analysts, the strength of Ether is evident in the derivatives market, implying a potential new all-time high for it.
If Bitcoin manages to hold its value above $104,088 in the near future, it’s possible that certain alternative coins might see an increase in their value. Let’s examine the top 5 cryptocurrencies exhibiting robust chart patterns as potential candidates.
Bitcoin price analysis
As Bitcoin continues its upward trend, it seems to be approaching a significant barrier at around $104,088. This suggests that bearish sellers are not showing much aggression in this price range.
the Relative Strength Index (RSI) is showing a downward divergence, suggesting a decrease in the bullish momentum. If sellers manage to push the price under the 20-day exponential moving average ($97,985), it could lead to a drop towards the 50-day simple moving average ($88,705).
If Bitcoin price surpasses $104,088 and maintains it, this suggests a resumption of the upward trend. The BTC/USDT pair might then escalate towards $113,331, and further up to $125,000 if the trend continues.
The pair could reach the resistance line near $107,000, which is expected to act as a solid resistance. If buyers overcome the resistance, the pair is likely to pick up momentum and surge to $113,331.
If the price falls from its current position or breaches the resistance and dips below the moving averages, this could indicate that bears are taking advantage of rallies to sell. The value might then head towards the significant support level for observation. Should the bears push the price beneath the support level, the value could potentially fall to $86,700.
Ether price analysis
In the range of $4,000 to $4,094, Ether is encountering strong opposition, yet it’s encouraging to note that the bulls haven’t surrendered much territory to the bears.
The upsloping moving averages indicate advantage to buyers, but the negative divergence on the RSI suggests that the uptrend is slowing down. If the 20-day EMA ($3,723) cracks, the ETH/USDT pair could drop to the downtrend line. Such a move is likely to delay the start of the next leg of the uptrend.
If the price increases beyond its current level or the 20-day Exponential Moving Average (EMA), this would indicate a positive trend. This increased positivity could lead to a breakthrough above $4,094. Should that occur, the pair might experience a significant rise, potentially reaching $4,500.
On the 4-hour graph, the moving averages appear to have leveled off, and the Relative Strength Index (RSI) hovers slightly above the middle line. This indicates a potential trend of sideways movement in the short term. The pair might stabilize within the range of $4,094 to $3,500 for some duration.
To boost the chances of surpassing $4,094, buyers need to push the price over $4,000. If successful, the price may climb up to $4,500. Conversely, if the price falls below $3,500, it will give an edge to the sellers (bears).
Chainlink price analysis
Currently, Chainlink (LINK) appears to be moving upwards; however, the lengthy upper shadows on the candlesticks from December 13th and 14th suggest that sellers are pushing prices beyond $30, indicating some bearish activity.
Keep an eye on the $27.41 mark as significant support in case of a downturn. If the price rises from its current position or rebounds strongly from $27.41, it boosts the chances of a move above $31. The LINK/USDT pair may then initiate the next phase of its upward trend, potentially reaching $34.50 and eventually $38.30.
If the price falls below $27.41 in the short run, this optimistic outlook might not hold true. This decline could potentially push the pair down to the 20-day moving average at $23.87, a key level that the bulls need to protect as a strong support.
On the 4-hour chart, the Relative Strength Index (RSI) indicates a weakening upward trend as it shows negative divergence, meaning the momentum is decreasing. If the price breaks and closes below the 20-Exponential Moving Average (EMA), it could signal that the bears are attempting a resurgence. The bulls should be vigilant about defending the 50-Simple Moving Average (SMA) as a failure to do so might result in the pair potentially falling to $23 if they cannot hold their ground.
To avoid a significant drop, traders need to swiftly raise and sustain the price beyond $31. If they manage this, the price trend might speed up towards approximately $34.50.
Aave price analysis
On December 10, the cryptocurrency Aave (AAVE) rose above its 20-day Exponential Moving Average ($283), and on December 11, it surpassed its short-term resistance level of $300.
In simpler terms, the AAVE/USDT pair is experiencing pressure around the $400 mark, but the optimistic investors (bulls) haven’t given up much ground to the pessimists (bears), indicating they’re maintaining their positions, hoping for further price increases. If buyers manage to push the price above $400, there’s potential for the pair to soar as high as $450.
As an analyst, I’m keeping a close eye on the market situation. The key level to watch for potential support is the 38.2% Fibonacci retracement level at $330. If the price experiences a bounce back from this point, it increases the probability of an upward breakout. However, if the price breaks below the $330 mark, there’s a possibility that the pair could descend to the 20-day Exponential Moving Average (EMA) at $283.
The duo has bounced back from the 20-Exponential Moving Average (EMA), a vital short-term floor for the bulls to safeguard. If the price continues to stay above the 20-EMA, the bulls will aim to drive the pair beyond the $400 resistance level.
If the price falls and dips below the 20-Exponential Moving Average (EMA), this could indicate sellers are cashing out their gains. As a result, the pair might descend towards the 50-Simple Moving Average (SMA). This lower region is typically attractive to bulls who see it as an opportunity for buying.
Bitget Token price analysis
The price of Bitget Token (BGB) has been surging significantly, however, its upward momentum seemed to reverse at the level of $3.50 on December 12th, suggesting that traders are taking profits from their positions.
As an analyst, I’m observing a strategic move by the bulls to halt the downward trend at the $3 mark. Should the price reversal occur from our current position, I foresee the BGB/USDT pair making another attempt to surpass the immediate resistance level of $3.50. If successful, this could potentially propel the pair towards a new high of $4.
Instead of expecting otherwise, if the price stays below $3, the sellers (bears) might attempt to drag the pair down towards the 20-day Exponential Moving Average (EMA) at $2.43. This significant drop could increase the likelihood of a sideways trend or range formation in the immediate future.
The bulls are attempting to initiate an upturn around the 50-day Simple Moving Average (SMA), but the advance might encounter resistance at the downward trendline. If the price drops dramatically from this trendline, there’s a higher chance of falling below the 50-SMA. This could trigger a decline towards $2.40.
If the price surpasses its downward trend line, it might imply that the downtrend has ended or reversed. In such a case, the pair could potentially increase to around $3.34 and then encounter resistance at $3.50. If this barrier is broken, it could signal the beginning of another upward trend in the price.
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2024-12-15 23:18