Key Insights:
Bitcoin is on the verge of breaking out of $100k levels.
Ethereum is on the higher side of its resistance zone and might break out above $3450.
XRP has already shown a breakout with the potential to reach $7 by the end of Jan 2025.
Solana has broken out of $200 and could reattempt its $263 ATH soon.
Dogecoin might show a 10% to 20% breakout above $0.41.
Polygon expects a 40% breakout above $0.64.
The largest breakout in terms of market cap is possible in Bitcoin where it looks at a 35% to 40% breakout based on previous price predictions and expert analysis. This move could push Bitcoin's market cap from $2 trillion to $2.8 trillion by the end of this month or possibly by Q1 (January to March).
Bitcoin with its Support and Resistance Levels
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Bitcoin has been resilient in market corrections, which helped it hold on to its price above $90k. Just three days ago, this week's lowest price point was at $90.5k. If Bitcoin had breached below $90k, predictions were that it could sink as low as $78k.
Ethereum corrected below $3000 this week but was quick to recover due to high buying from whales and retail markets. Further, institutions like Trump's WLF also bought $9.88 million worth of ETH as detected by Arkham Intelligence.
Ethereum with its Support and Resistance Levels
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Chart expert Ali Martinez had earlier predicted that above the $3450 level, which is the higher end of its resistance zone ($3360 to $3450), ETH could retest first the $4k and then the $6k levels. Based on historical ETH/BTC charts, the ultimate target for ETH in 2025 still remains $15k.
The highest performing large-cap cryptocurrency, XRP, saw a huge rise in its price last week. With a 30% gain, XRP has now crossed $3 which is the highest price it has achieved in the last 7 years.
Several factors have worked well for XRP, starting with a pro-crypto president, dominance in the cross-border payment market, entry into RWA markets with Abrdn, the newly launched stablecoin, and expectations for the end of the SEC's hunt.
XRP also saw massive whale accumulation of 1 billion tokens in the near past and we had predicted it to have a 140% rally in January 2025 and at press time, it is already up 5% from those levels.
XRP with Support Levels and Breakouts in XRP and MACD
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Going forward, we reiterate our previous claim of $7 per XRP based on strong fundamental growth and highly positive chart patterns.
Solana seems to be the most unlikely crypto in this list due to its super bearish trend that took it as low as $170 this week. However, given the new reversal in its trend, SOL has now become bullish again.
Solana with Support and Resistance Levels
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At press time, Solana had crossed $200 decisively and was trading at $203 levels. Further, with the strong resurgence today in the memecoin markets, we expect Solana to cross $263 (ATH) in the near time if it crosses above $214 this week.
However, in the long-term we expect Solana to cross $4000 as predicted by crypto chart expert Ali Martinez.
If its historical chart patterns materialize, Dogecoin could soon become more valuable than the entire altcoin market. In the long run, DOGE is expected to repeat its historical cycle patterns from 2017 or 2021, which could take its price to $15 and $36, respectively. This move could establish a market cap of $3 trillion to $6 trillion in the long run.
We expect a strong rally in DOGE after $0.41 resistance level and this breakout could easily take it above $0.5, a 25% gain.
Dogecoin with Support and Resistance Levels
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At press time, DOGE was trading at $0.37 with an intraday gain of 5% and a weekly gain of 14%.
Polygon, which as been a lost case after the breakdown of Disney's metaverse deal has now resurged. After its migration from MATIC to POL, the token now stares at a 40% move beyond $0.64.
Given its strong partnerships with large institutions like the Bank of Italy, Polygon could soon act as a major player in the DeFi space. It is already a top Layer-2 project with a daily on-chain transaction count of 3.5 million transactions per day.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.