Bitcoin has maintained a position above $90,000, raising prospects for a return to the $100,000 mark in the coming days. Biget Research chief analyst Ryan Lee suggests the cryptocurrency could even reach $120,000 before seeing significant sell-offs. However, while Bitcoin garners optimism, Ether’s outlook appears less promising. Markus Thielen from 10x Research anticipates that Ether may not perform as well as Bitcoin again in 2025, and it could face challenges in achieving meaningful rallies.
Meanwhile, the potential approval of a U.S.-listed Solana exchange-traded fund has investors hopeful for bullish outcomes for Solana if it goes through. Analysts are focusing on the critical support and resistance levels of the leading cryptocurrencies to gauge future market trends.
For Bitcoin, attempts to rise above the moving averages have been met with resistance, with potential to revisit its support zone between $90,000 and $85,000. A breakthrough above current averages could lead to testing the $100,000 level and a possible rise to $108,353.
Ether’s recent bounce faced selling pressure at the 20-day EMA, risking a decline towards $3,200, with stronger defense expected between $3,000 and $2,850. Strength will be evident if Ether surpasses its moving averages, possibly touching $3,555 with increased momentum.
XRP’s rebound from a triangle pattern’s support line suggests underlying demand, though surpassing the 20-day EMA is critical to remain within the pattern and potentially test its resistance line. Failing to do so could push XRP down to $1.62.
BNB remains in a tight range, reflecting buyer-seller indecision around the 20-day EMA and resistance at $722. A downward move below the EMA could see it test support around $635, whereas an upward breakout might target $760 and $794.
Solana’s efforts to surpass the 20-day EMA have been blocked by bears, with potential for a downturn to $155 if sellers maintain control. Conversely, surpassing the 20-day EMA could lead to resistance-testing around $202 and potentially $219.
Dogecoin sees control by bears with a descending 20-day EMA, suggesting prices could plummet to $0.27 if support at $0.30 fails. Conversely, an upward movement above the 20-day EMA would indicate a floor at $0.30, with potential to rally to $0.38 and $0.42.
Cardano is struggling, with bears aiming to push prices toward $0.76. If this level breaks, prices might plunge to $0.50. Buyers must surpass the neckline of its bearish pattern to counteract this and aim for $1.20.
Avalanche is approaching support at $33.60, with strong defensive action anticipated unless a bearish breakthrough extends the decline to $32 and $30.50. Bulls need to drive prices above the 20-day EMA to regain control.
Chainlink’s slip below its 50-day SMA suggests a downside trajectory unless it rebounds strongly from $20. A downtrend will target $16 unless bulls manage to drive prices toward $26.
Toncoin remains in a wide trading range with an advantage to bears, potentially testing support at $4.44. Any upward momentum will need to break through average lines to target $6.50 and $7.
The analysis does not constitute investment advice, and caution is advised due to potential risks involved in cryptocurrency trading.
