Bitcoin and altcoin prices have performed well this year, and this trend is expected to continue in the first quarter of 2025. The Fed's rate cuts, the upcoming Trump administration, and the continued momentum will affect this performance. Therefore, here are some of the top altcoins to avoid selling before January 2025.
Why You Should Avoid Selling Altcoins Before January
January is typically a weak month for Bitcoin and other altcoins. Since 2013, Bitcoin’s average return in January has been 3.35%, while the median is 0.25%, according to CoinGlass. Since then, Bitcoin has had six Januarys with negative returns.
Thus, altcoins like Ethereum, Solana, Binance Coin, and DexBoss may continue to perform well before January 2025.
Ethereum (ETH)
We recently wrote an article explaining why Ethereum's price might experience a strong rebound and soon reach $5,000. On the daily weekly chart, we see that the token still faces resistance at the psychological level of $4,092.
The technical indicators suggest that if the bulls successfully push Ethereum's price above this resistance level, the price will continue to rise. Breaking this level would invalidate the already formed triple top pattern and further rise to $4,856, the highest level ever. This initial target is about 25% higher than the current level.
If the bulls break through this resistance level, Ethereum will rebound to the next significant psychological level of $5,000. The fundamentals of the token are also strong, as the total assets in its DeFi protocols have surged to nearly $80 billion.
DexBoss (DEBO)
DexBoss is an upcoming DEX platform designed to compete with companies like Uniswap and Raydium. Currently, it is in the presale stage, having raised over $154,000 from investors. The project benefits early buyers as they purchase tokens at $0.01, well below the eventual listing price of $0.050. Thus, these buyers can profit even if they sell tokens on the airdrop day.
DexBoss has many features that will help boost the price of DEBO. It will offer various tokens for purchase, risk management features, and cross-chain compatibility. You can purchase DEBO tokens here.
Solana (SOL)
Solana is another altcoin to avoid selling before January. The weekly chart shows that the token has retreated for nearly three weeks in a row. This decline occurred after the token rose and retested the historical high of $263.60.
Therefore, the token is declining as it forms the handle of a cup and handle pattern that has been developing since November 2021. The C&H pattern is one of the most bullish chart patterns in the market, consisting of a horizontal shape and a rounded bottom.
Solana has also retested the critical support level of $209.51, which is the highest volatility since March of this year. Therefore, the token is likely to rebound and could rise to the psychological point of $300 by January 2025. Some analysts believe that in the long run, Solana's price will rise to $1,000.
Binance Coin (BNB)
Binance Coin is another cryptocurrency to avoid selling before January. Like many other altcoins, the BNB token has also formed a cup and handle pattern, with an upper price of around $691. It then took several months to form the handle of this pattern.
Currently, the token has risen above the top side of the C&H pattern and above the 50-week moving average. By measuring the depth of the cup and then taking the same number from its upper side, the token is likely to rise above $1,100 during this bullish cycle.
