 Price analysis 1/3: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, LINK, TON 
2025-01-04
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Bitcoin BTCUSD bulls are maintaining the pressure and are likely to test the stiff overhead resistance at $100,000 soon. Although the recovery has been strong, the relief rally on Jan. 2 was greeted by profit booking by the United States spot Bitcoin exchange-traded fund investors. The ETFs witnessed $242.3 million in outflows, per Farside Investors data.
Bitcoin’s hesitation to cross above $100,000 has not altered its long-term view. Steno Research said in a research note that 2025 is likely to be the best year for cryptocurrency markets ever. They expect Bitcoin to hit more than $150,000 and Ether ETHUSD to cross $8,000.
Even if Bitcoin dips, analysts view it as a buying opportunity. Investment research firm Bravo Research said in its latest Macro Report on Dec. 31 that Bitcoin could “catch down to stocks’ weakness.” However, Bravos considers the dip to $80,000 as a buying opportunity for the next leg higher.
Could Bitcoin rise above $100,000, pulling the altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin has recovered to the moving averages, indicating that the bulls are defending the $90,000 level with all their might.
Both moving averages have flattened out, and the relative strength index (RSI) is just above the midpoint, indicating a possible consolidation in the near term. The BTCUSDT pair could swing between $100,000 and $90,000 for some time.
If buyers thrust the price above $100,000, the pair is likely to retest the all-time high at $108,353. Alternatively, a break and close below $90,000 will clear the path for a decline to the solid support at $85,000.
Ether price analysis
Ether is forming a bullish ascending triangle pattern, which will complete on a close above $3,555.
The flattish 20-day exponential moving average ($3,478) and the RSI just above the midpoint do not give a clear advantage either to the bulls or the bears. If the price closes above $3,555, the ETHUSDT pair may jump to the pattern target of $3,894.
This bullish setup will be negated if the price turns down and breaks below the uptrend line. That could pull the price down to $3,100 and later to $3,000. Buyers are expected to defend the $3,000 level with vigor. 
XRP price analysis
XRP (XRP) bounced off the support line of the symmetrical triangle pattern on Dec. 31 and reached the resistance line on Jan. 3.
Sellers are expected to aggressively defend the resistance line. If the price turns down and breaks below the 20-day EMA ($2.24), it will suggest that the XRPUSDT pair may remain inside the triangle for a while.
On the other hand, a break and close above the triangle will signal that the uncertainty has resolved in favor of the bulls. That increases the possibility of a rally to the overhead resistance at $2.91.
BNB price analysis
BNB’s (BNB) price is squeezed between the 20-day EMA ($698) and the overhead resistance at $722.
Generally, a tight consolidation is followed by a range expansion, but it is difficult to predict the direction of the breakout. If the price breaks and closes above $722, it will signal that the bulls have overpowered the bears. That will clear the path for a rally to $760 and subsequently to $794.
Conversely, if the price plunges below the 20-day EMA, it will suggest that the bulls have given up. The pair may drop to the 50-day simple moving average ($679) and eventually to $635.
Solana price analysis
Solana (SOL) surged above the 20-day EMA ($201) on Jan. 2, indicating that the selling pressure is reducing.
The SOLUSDT pair could rise to the 50-day SMA ($219), which is expected to pose a substantial challenge. If buyers overcome the resistance at the 50-day SMA, the pair could rally to $234.
The zone between the 20-day EMA and the uptrend line is likely to act as a strong support on any dips. Sellers will be back in the driver’s seat if they sink and maintain the price below the uptrend line.
Dogecoin price analysis
Dogecoin’s (DOGE) consolidation between $0.30 and $0.35 resolved to the upside on Jan. 3, indicating that the bulls are back in the game.
Both moving averages are flattening out, pointing to a possible range-bound action in the near term. If bulls push the price above the 50-day SMA ($0.38), the DOGEUSDT pair could rally to $0.42. Sellers are expected to mount a strong defense at $0.42. If the price turns down from $0.42, the pair could fall to the 20-day EMA ($0.34).
Time is running out for the bears. They will have to pull the price below $0.30 to start a deeper correction to the 61.8% Fibonacci retracement level of $0.27.
Cardano price analysis
Cardano (ADA) turned up sharply on Jan. 1, and the bulls pushed the price above the neckline of the head-and-shoulders pattern on Jan. 3.
The move above the neckline may have trapped the aggressive bears, who rushed to close their positions. That resulted in a short squeeze, propelling the ADAUSDT pair toward $1.20. Sellers are expected to defend the zone between $1.20 and $1.33.
The moving averages are likely to act as a strong support during pullbacks. Sellers will have to tug the price below the moving averages to gain the upper hand.
Avalanche price analysis
Avalanche (AVAX) turned up from the $35 support on Jan. 1, indicating that the bulls are attempting a comeback.
The relief rally is expected to face selling at the 50-day SMA ($42.67). If the price turns down sharply from the 50-day SMA, the bears will again try to sink the AVAXUSDT pair below the $35 to $33.50 support zone. If they manage to do that, the pair could sink to $32 and later to $30.50.
On the contrary, if buyers drive the pair above the 50-day SMA, it will suggest that the correction may be over. The pair could then gradually rise to $48.
Chainlink price analysis
Chainlink (LINK) bounced off the neckline of the H&S pattern, indicating that the bulls are fiercely defending the level.
The up move is likely to face selling at the 20-day EMA ($22.64), but if the bulls prevail, the LINKUSDT pair could rise to $26. Such a move will signal that the bears are losing their grip.
Contrary to this assumption, if the price turns down sharply from the 20-day EMA, it will put the $20 level at risk of a breakdown. If that happens, the bearish setup will complete, resulting in a fall to $16.
Toncoin price analysis
Toncoin (TON) bulls are trying to start a recovery, which is expected to face stiff resistance at the moving averages.
If the price turns down from the moving averages and breaks below $5.40, it will signal that the bears remain in control. That increases the likelihood of a drop to the $4.72 to $4.44 support zone.
Instead, if buyers drive the price above the moving averages, it will signal buying at lower levels. The TONUSDT pair could rise to $6.50 and later to $7, where the bears are expected to mount a strong defense.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.