Next week, crucial employment data for the U.S. will be released, while BTC has been underperforming for days. However, the environment for altcoins to begin rising is gradually forming. As this article is prepared, the BTC price hovers around $97,450, whereas altcoins continue to gain momentum.
Insights on Solana (SOL) and Ethereum (ETH)
SOL Coin is once again around the $218 mark, indicating a potential end to its decline. The recent recovery of altcoins from long-held critical levels is a very positive sign.
In today’s analysis, Rager noted that SOL Coin’s price could surpass $225, achieving a larger peak. He emphasized the strength of the 200D EMA level and expressed no surprise at the rebound starting from there. Given the upward trend, the market is expected to target higher peaks, particularly in the first two quarters of 2025.
ETH has tested the significant resistance level of $3,980 three times. In its latest test, it surged to $4,100, achieving something it hadn’t done since 2022. However, for further increases across altcoins, this challenging zone must be overcome.
According to the principle that the more resistance levels are tested, the weaker they become, the key wall tested three times in the weekly chart must be broken. At the time of writing, the ETH price is at $3,567.
A Bull Market for Altcoins is Approaching
This is something we are hearing from numerous sources lately. When we combine historical data, news flow, and ongoing issues, it becomes clear that traders deserve such a bullish phase. But will this actually happen?
Moustache shared the graph below, indicating that the altcoin upswing has begun and that we could see significant gains in the first three months of this year.
“TOTAL2 – It’s Starting – BREAKOUT. (The Total2 graph tracks the total market capitalization of altcoins.)
Listen to Moustache this cycle. Joking aside, as expected yesterday, Altcoinmarketcap looks fantastic, and we’ve now seen the breakout. Hope it has helped again?”
