Bitcoin is recovering after falling below $100,000 earlier this week. It is now approaching the $100,000 resistance target again for a potential breakout. This has led to a sharp recovery of the largest altcoins, with BNB, ADA and AVAX Coin recording the best gains. Crypto analyst Yashu Gola looks at whether these 3 tokens are worth investing in.
BNB price prediction: 300% boom in 2025?
BNB confirmed a breakout from a long-term ‘cup and handle’ pattern on the weekly chart. It also signalled a potential bullish continuation. The depth of the pattern predicts an upside target around $2,753 by 2025. This points to a strong rally from current levels at $680.
The breakout took place as BNB broke above the cup resistance around $652, supported by rising volumes. However, the current pullback towards the breakout level is likely to test $652 as support. While a successful retest strengthens the bullish case, a failure risks invalidating the setup. The 50-week EMA is near $541 and the 200-week EMA is at $364, providing additional support zones. RSI, at 59, is signalling for more upside room. However, it emphasises the need for cautious optimism as BNB consolidates.
ADA price forecast: 40-50% correction possible in 2025!
Cardano turned bearish after testing the upper trendline of the ascending widening wedge pattern. Thus, it fell over 42.50% in the last 48 hours. As of 21 December, ADA was testing the 0.236 Fib level around $0.93 as intermediate support. From a fractal analysis perspective, the risk of ADA falling below the $0.93 level may fall towards the support confluence range defined by the $0.45-0.58 area.
This range served as support during the downtrend cycle in 2022. It also became resistance during the uptrend cycle in early 2024. Conversely, a bounce off the 0.93 support line would likely send the ADA price towards the upper trendline, which coincides with the 0.382-0.5 Fib line of the channel and aligns with the $1.36-1.71 area.
AVAX Coin price prediction: A 25% correction in 2025 is in the cards!
Avalanche (AVAX Coin) entered a retracement phase after testing multi-year descending trendline resistance in early December. The token has since fallen 40%. As of 21 December, it is in line with the 50-week and 200-week EMAs. It is testing the 0.236 Fib line around $38.60 as an immediate support level.
Interestingly, the $38.60 support is aligned with the lower trendline of the rising parallel channel. This combination of support is 25% lower than current AVAX Coin price levels. It could result in a rebound towards the descending trendline resistance, which will likely align with the $45 level. Meanwhile, a break above the $45 level could provide a long-term price rally towards the upper trendline of the parallel channel around $200 in 2025. This would represent a 400% increase from current price levels.
The opinions and forecasts in the article are those of the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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