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COINTURK NEWS > Technical Analysis > Bitcoin’s Stagnation Sparks Hopes for Altcoin Recovery
Technical Analysis

Bitcoin’s Stagnation Sparks Hopes for Altcoin Recovery

In Brief

  • Bitcoin remains stagnant, influencing altcoin recovery prospects.

  • AVAX and ADA demonstrate resilience, showing potential for upward movements.

  • Ethereum and USUAL Coin hold promise amidst ongoing market challenges.

Fatih Uçar
Fatih Uçar 4 months ago
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Bitcoin (BTC) $104,435 price hovers around $105,700, while altcoins remain at levels seen when BTC reached $90,000. Several cryptocurrencies have plunged deeper, increasing desperation, which now fuels hopes for a turnaround. What are the forecasts for AVAX, ADA, Ethereum $2,540, and USUAL Coin?

Contents
AVAX and ADA Coin InsightsEthereum and USUAL Coin Analysis

AVAX and ADA Coin Insights

AVAX experienced rapid losses in the latest downturn but performed better than many cryptocurrencies today. As of writing, it has risen 6% in the last 24 hours, finding buyers at $34.36. The altcoin, which rebounded from a low of $32, is preparing to reclaim $35 as support. If successful, it could attempt new highs at $38 and $42.

BTC price performance could influence the continuation of AVAX’s rise. For weeks, markets will price in the upcoming data concerning March’s interest rate decision, and substantial actions taken by Trump regarding cryptocurrencies in the U.S. will provide additional support.

ADA Coin managed to limit its losses at the lower wick of $0.851. This critical level has been tested several times previously. Just below the psychological support of $1, ADA Coin is positioned to attempt breaks above $1.16, supported by significant details in this year’s roadmap for the network’s growth.

Ethereum and USUAL Coin Analysis

Ethereum investors continue to endure challenges. After hitting a recent low around 0.03 BTC, ETH is now trying to reclaim 0.031 BTC. Cautious investors may wait for convincing closures above 0.04 BTC before committing to a real rise in ETH and altcoins. In this scenario, reclaiming the 0.044 BTC level would aim for resistances at 0.058 BTC and beyond.

One of today’s biggest gainers is USUAL Coin, which has seen substantial profits. The recovery of the $0.510 support could open the door to much higher peaks in the coming days. Following a steady decline that has lasted 34 days, targets of $0.662 and $1.08 may come into focus.

However, the volatile nature of BTC prices can quickly reverse scenarios, triggering a sharper decline than the current rise.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 30 January, 2025 - 7:35 pm 30 January, 2025 - 7:35 pm
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