Price analysis 1/1: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, LINK, TON

Bitcoin (BTC) has started the new year on a mildly positive note, indicating that the bulls and the bears are playing it safe as they are unsure of the next directional move. However, market volatility is likely to increase in the next few days as market participants return to work from holidays.

Biget Research chief analyst Ryan Lee told Cointelegraph that Bitcoin could peak above $120,000 before witnessing profit-booking.

While several analysts are bullish on Bitcoin, the same cannot be said about Ether (ETH). 10x Research’s head of research, Markus Thielen, said in a market report that Ether could struggle “to deliver meaningful rallies” in 2025. Thielen believes that Ether will underperform Bitcoin again in 2025.

Among other predictions for 2025, crypto investors expect approval for a United States-listed Solana exchange-traded fund. If that happens, analysts believe the launch is likely to be bullish for Solana.

What are the critical support and resistance levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin bulls tried to push the price above the moving averages on Dec. 31, but the long wick on the candlestick shows solid selling on relief rallies.

The downsloping 20-day exponential moving average ($96,278) and the relative strength index (RSI) near 45 give a slight edge to the bears. The BTC/USDT pair could retest the $90,000 to $85,000 support zone, which is likely to attract buyers. 

If the bulls push the price above the moving averages, it will signal that the bears are losing their grip. The pair may rise to $100,000, which is a crucial level to watch out for. A break and close above $100,000 could result in a retest of $108,353.

Ether price analysis

Ether bounced off the uptrend line on Dec. 31, but the long wick on the candlestick shows selling at the 20-day EMA ($3,469).

If the price closes below the uptrend line, the ETH/USDT pair could decline to $3,200 and eventually to $3,000. Buyers are expected to mount a strong defense in the $3,000 to $2,850 support zone.

The first sign of strength will be a break and close above the moving averages. Such a move will signal buying at lower levels. The upside momentum could pick up after buyers drive the pair above $3,555.

XRP price analysis

XRP (XRP) rebounded off the support line of the symmetrical triangle pattern on Dec. 31, indicating demand at lower levels.

Buyers will have to push and maintain the price above the 20-day EMA ($2.18) to suggest that the XRP/USDT pair may spend some more time inside the triangle. The pair could then rise to the resistance line.

Conversely, if the price turns down from the 20-day EMA, it increases the likelihood of a break below the support line. If that happens, the selling is likely to accelerate, and the pair may plummet to $1.62. 

BNB price analysis

BNB’s (BNB) price remains stuck between the 20-day EMA (696) and the overhead resistance at $722, signaling indecision between buyers and sellers.

The slightly upsloping 20-day EMA and the RSI just above the midpoint do not give a clear advantage either to the bulls or the bears. If the price turns down and breaks below the 20-day EMA, it will bring the $635 to $722 range into play.

On the other hand, a break and close above $722 will signal that the bulls are back in the game. That could propel the BNB/USDT pair to $760 and thereafter to the stiff resistance at $794.

Solana price analysis

The bulls tried to push Solana (SOL) above the 20-day EMA ($198) on Dec. 31, but the bears held their ground.

Sellers will try to strengthen their position by pulling the price below the uptrend line. If they do that, it will signal the resumption of the down move. The SOL/USDT pair may descend to $155.

Instead, if the price turns up and breaks above the 20-day EMA, it will suggest that the bears are losing their grip. There is resistance at $202, but it is likely to be crossed. The pair may then climb to the 50-day SMA ($219).

Dogecoin price analysis

Dogecoin (DOGE) has been trading between the 20-day EMA ($0.34) and the $0.30 support for the past few days.

The downsloping 20-day EMA and the RSI in the negative territory indicate that bears are in control. If the $0.30 support cracks, the DOGE/USDT pair could drop to the 61.8% Fibonacci retracement level of $0.27. 

Contrarily, if the price turns up from the current level and rises above the 20-day EMA, it will signal a new floor at $0.30. The pair may rally to the 50-day SMA ($0.38) and, after that, to $0.42.

Cardano price analysis

Cardano (ADA) remains weak, and the bears are trying to sink the price to the strong support at $0.76.

The downsloping 20-day EMA ($0.92) and the RSI in the negative territory indicate that bears have the edge. They are likely to sell any relief rally to the 20-day EMA. If the $0.76 level cracks, the ADA/USDT pair could plunge to the H&S pattern target of $0.50.

If buyers want to prevent the downside, they will have to push and maintain the price above the neckline of the bearish setup. If they do that, select aggressive bears may close their positions, propelling the pair toward $1.20.

Related: Will 2025 become the year of Bitcoin DeFi?

Avalanche price analysis

Avalanche (AVAX) has been gradually moving toward strong support at $33.60, indicating that the bears remain in charge.

Buyers are expected to defend the $33.50 level aggressively, but if the bears prevail, the AVAX/USDT pair could start the next leg of the downward move to $32 and later to the solid support at $30.50.

Time is running out for the bulls. If they want to make a comeback, they will have to push the price above the 20-day EMA ($39.77). If they do that, the pair could rise to the 50-day SMA ($42.31), which is expected to act as a strong resistance.

Chainlink price analysis

Chainlink (LINK) slipped below the 50-day SMA ($21.19) and fell to the neckline of the bearish H&S pattern on Dec. 30.

The downsloping 20-day EMA ($22.57) and the RSI in the negative territory indicate the path of least resistance to the downside. If the price closes below $20, the LINK/USDT pair could drop to $16.

Contrarily, a strong bounce off $20 will suggest that the bulls are fiercely defending the level. Any recovery is expected to face selling at the 20-day EMA, but if the bulls overcome this resistance, the pair may jump to $26.

Toncoin price analysis

Toncoin (TON) has been stuck inside a large range between $4.44 and $8.29 for several months, indicating buying on dips and selling on rallies.

The downsloping 20-day EMA ($5.73) and the RSI in the negative territory indicate an advantage to bears. The TON/USDT pair is likely to drop to the strong support at $4.44, where the buyers are expected to step in.

On the upside, a break and close above the moving averages will suggest that the buyers are attempting a comeback. The pair may move up to $6.50 and subsequently to $7, which could act as a strong resistance.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.