New Year, New Outlook for 2025! Analysts are most optimistic about the performance of these four coins.
Bitcoin ($BTC) had a remarkable 2024 and first broke through $100,000 in December of that year, marking an important milestone in cryptocurrency history.
One of the main reasons Bitcoin has performed well is the substantial inflow of funds into Bitcoin spot ETFs in the U.S. Bloomberg ETF analyst Eric Balchunas recently pointed out that the assets under management of Bitcoin spot ETFs have reached $120 billion, slightly below gold's $125 billion.
Although Bitcoin has started a corrective trend after rising near $108,000, several analysts remain optimistic about Bitcoin's performance in 2025 and expect institutions to continue adopting Bitcoin. Some experts believe Bitcoin could rise to $500,000 or even higher, while others have more conservative target prices.
As of the time of writing, Bitcoin is priced at $95,082. If it can resume an upward trend, it may boost overall market sentiment and attract strong buying in various altcoins.
(Cointelegraph) Senior analyst Rakesh Upadhyay has observed that from a technical analysis perspective, the following four cryptocurrencies are standing out and may be worth watching, providing key weekly support and resistance analysis for reference only, not as investment advice.
Ethereum ($ETH) price trend analysis
Upadhyay notes that from the weekly trend, Ethereum ($ETH) has formed a large symmetrical triangle pattern, indicating indecision between bulls and bears.
A symmetrical triangle is a continuation pattern, typically breaking out in the direction of the trend that formed before the triangle, indicating that Ethereum is very likely to break upward.
The Ethereum bulls once pushed the price above the triangle, but the bears pulled it back below the breakout point. If the decline continues, the two moving averages below are important support levels to watch, with the current 20-week EMA at $3,134 and the 50-week moving average at $3,062.
If Ethereum can strongly rebound from the moving averages, it is expected to challenge the upper side of the symmetrical triangle again. A breakout from the triangle could initiate a new upward trend, with a final target price possibly at $7,814.
However, if Ethereum continues to decline and falls below the support line of the triangle (below $2,400), the medium to long-term bullish outlook will be invalidated.
Source: Cointelegraph Ethereum ($ETH) price trend analysis
Solana ($SOL) price trend analysis
Upadhyay points out that Solana ($SOL) has fallen from the $260 resistance level, indicating that bears are actively defending that level.
If $SOL strongly rebounds from the weekly moving averages (around $187.79 and $157.15), it will challenge above $260 again. If successful, the weekly chart of $SOL will complete a cup and handle pattern, potentially opening a new upward trend, first rising to $400 and then reaching a target of $500.
If $SOL falls into the region between the 50-week moving average and $116, it may attract strong buying from bulls, and sellers must pull the price below $116 to take control.
Source: Cointelegraph Solana ($SOL) price trend analysis
Sui ($SUI) price trend analysis
Upadhyay points out that although Sui ($SUI) has been listed for a relatively short time, it has repeatedly set new historical highs, and most of the gains have been maintained as of now.
From a weekly perspective, the moving averages are rising and the Relative Strength Index (RSI) is in the overbought area, indicating that buyers are in control. $SUI is facing selling pressure around $5, and if it can overcome this resistance, $SUI may resume its upward trend, first climbing to $6.20 and then to $7.60.
If $SUI continues to decline, the 20-week EMA ($2.69) is expected to become strong support. Falling below and closing under the 20-week EMA will be the first sign of loss of momentum in the upward trend, and it may then fall to $2.18.
Source: Cointelegraph Sui ($SUI) price trend analysis
Aave ($AAVE) price trend analysis
Upadhyay points out that from the weekly trend, Aave ($AAVE) has broken through and closed above the $261 resistance level, completing a rounded bottom pattern.
$AAVE encountered resistance at $400 and has now returned to the breakout level near $261, which is a key point worth watching. If a strong rebound occurs, it indicates that bulls have converted $261 into a support level, and it may challenge the $400 resistance again.
If it successfully breaks through $400, it may climb to $450 next, with a medium-term target price set at $650.
However, if $AAVE falls below and stays under $261, the bullish outlook will be invalidated in the short term, and it may then drop to the 20-week EMA ($191).
Source: Cointelegraph Aave ($AAVE) price trend analysis
'New Year, New Outlook for 2025! Analyst: Bitcoin may reach new highs again, with four cryptocurrencies expected to surge.' This article was first published in 'Crypto City.'
