Only a few days remain and by next Monday, we will have entered 2024. So, what is the expectation in the crypto world? Optimism and excitement about the approaching approval of a spot Bitcoin ETF are increasing day by day. The latest ETF application updates also indicated that the SEC’s conditions were accepted. So, which altcoins could gain more in BTC parity in January 2024?
Axie Infinity (AXS)
AXS Coin price had been below the long-term declining resistance trend line since October 2021. The decline led to a bottom at 13,400 satoshis in October. Those who entered the markets in 2020 and later may not be used to it, but in 2017-2018 and earlier periods, the main goal for altcoin investors was to increase their BTC holdings. Therefore, the most active pairs were BTC pairs, and analyses were conducted on these charts. Even though USD pairs are popular in the current situation, it is important to look at the situation in terms of BTC to detect major movements.
After the bottom in October, last week the resistance in BTC parity was broken, and the breakout came after 800 days, supported by a rising RSI. If the resistance at 24,500 satoshis is also breached, AXS Coin price could climb to the 60,000 satoshi region with a 145% increase.
BNB Coin 2024 Forecast
In November 2022, it fell below the long-term resistance and reached a bottom at ₿0.0051 in December. However, BNB Coin started to rise after reacting from the bottom. If it can close above the ₿0.007 level, the breakout can be confirmed, and the expected rally could begin.
With a positive RSI, the first target in the continuation of the rise will be the ₿0.0088 region. In the opposite scenario, a 25% drop from the current price could be seen.
Arbitrum (ARB) 2024 Forecast
At the end of the list of altcoins that could perform better than Bitcoin is ARB Coin. It has gone through a similar process to the two altcoins mentioned above, and its chart structure resembles theirs. That is, there is a rise expectation in need of confirmation.
Although the RSI legitimizes the breakout, the price needs to maintain a strong stance. If it can do so, it could reach the 3,700 satoshi resistance. In the bearish scenario, it could also test the support 20% below.
