We are on the eve of an exciting period for the crypto markets, and if things go as expected, we will see major rallies. Investors who made significant gains in the first and last quarters of this year were rewarded for capitalizing on the June 2022 and 2023 crashes. So, who will see parabolic rises in January 2024?
Arbitrum (ARB) 2024 Prediction
Since October, ARB Coin has increased by following a parabolic rising support trend line. Most recently, on December 18th, it confirmed the trend line and surpassed the $1.3 horizontal resistance line, aiming for higher levels. At the time of writing, ARB Coin is trading at $1.45 and is expected to see new peaks after surpassing the $1.75 and $1.82 resistance levels.
According to Elliot wave counting, we are in the third wave of a five-wave rise, and ARB Coin could be on the threshold of a satisfying peak. We may see a rise line that is 2.61 times larger than the first wave, which could lead to a price peak of $2.25.
In the opposite scenario, if the trend line is lost, the price could drop to $1.1.
Optimism (OP) 2024 Prediction
OP price reached an all-time high of $4.18 on December 27th and then retracted a bit. The last part of December was one of the best periods of the year. Many cryptocurrencies reached their annual and all-time highs during this period.
OP Coin, which has been stationary since June 2022, could reach up to $6.2 by targeting the top of the long-term rising parallel channel. Despite this bullish prediction, closures below $3.1 could lead to a 45% drop to $2.
GMX Coin 2024 Prediction
GMX Coin was once very popular and brought serious gains to investors. It then faced prolonged selling. However, in October, it broke free from a decreasing resistance trend line and confirmed $42 as support, turning its direction upward.
If GMX Coin can close above $58, we could see a 70% increase and a rally up to $90. Meanwhile, at the time of writing, BTC has fallen to $41,880, and continued decline could increase anxiety in altcoins.
