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COINTURK NEWS > Technical Analysis > Market Trends Ignite Speculation on Altcoins and Precious Metals
Technical Analysis

Market Trends Ignite Speculation on Altcoins and Precious Metals

In Brief

  • Bitcoin maintains a volatile range, affecting altcoin strategies.

  • Experts predict substantial movements in Ethereum and other altcoins soon.

  • Gold's performance remains crucial for the cryptocurrency market's dynamics.

İlayda Peker
İlayda Peker 1 year ago
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Bitcoin $74,344 continues to oscillate between $97,650 and $96,000, while altcoins strive to keep pace with these dizzying fluctuations. As this article is being prepared, ETH finds buyers at $3,439. What do experts indicate regarding short-term cryptocurrency assessments?

Contents
Will Altcoins Rise?What Will Be the Gold Price?

Will Altcoins Rise?

Technical analysis does not predict the future, but it encourages investors to prepare their psychology by observing specific patterns, thus influencing price movements. There are high expectations for cryptocurrencies in the first quarter. If Trump takes significant steps that align with these expectations after January 20, the news flow in the crypto space will likely be very supportive for bulls.

This supportive news flow will be highly beneficial for all the technical setups mentioned below. In days when all-time highs are achieved simultaneously by altcoins, ETH shows a tendency to reach its ATH. Carl, in his latest assessment, mentioned that the price is on the verge of breaking out of a symmetrical triangle, targeting $3,900.

An analyst known as Yoddha refers to historical data, suggesting that Ethereum $2,367 (ETH) is on the brink of reaching new all-time highs. Here, even five-digit prices appear optimistic as the target nears $20,000.

Bob Loukas updated his long-term outlook for BTC, stating the following:

“Bitcoin appears to confirm a new 60-day cycle. If strong today, it will surpass a 56-day cycle. The question then becomes: Was the -15% drop in just three weeks enough to reset the longer weekly cycle? Or do we need to experience a decline for another two months first?”

Analysts aim for a price target above $110,000.

What Will Be the Gold Price?

The dollar index has been strengthening for some time, and the anticipation of fewer interest rate cuts this year has impacted both cryptocurrencies and precious metals. Since gold shares a positive correlation with BTC and, consequently, other cryptocurrencies, it is crucial to monitor the status of this yellow metal.

Bob Loukas shared the above graph, asserting that we are in the early to mid-stages of a significant bull market for precious metals. At this stage, further gains are expected.

You can follow our news on Telegram, Facebook & 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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İlayda Peker 2 January, 2025 - 10:15 pm 2 January, 2025 - 10:15 pm
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