ETH, LINK, AAVE and BGB in Bitcoin inch higher and move to new all-time highs

Bitcoin (BTC) has recovered sharply from weekly lows and is hitting an all-time high of $104,088. VanEck expects the cryptocurrency bull market to reach its first peak in the first quarter of 2025. After that, the asset manager expects a 30% return in Bitcoin and a sharp retracement of up to 60% in altcoins. The recovery is expected to begin in the fall, with “major tokens returning to their former positions and achieving significant highs by the end of the year.”

Another bullish voice was Bitcoin mining industry researcher Danny Marcus, who studied Bitcoin's three previous bull cycles. Marcus believes Bitcoin could reach $173,646 to $461,135 by 2025, barring a macro crash like 2020.

Bitcoin is not alone; Analysts expect Ether (ETH) to play out in 2025. Baybit analysts told Cointelegraph that Ether is showing strength in the commodities market and could hit a “new all-time high in Q1 2025.”

In the short term, if Bitcoin breaks and holds above $104,088, select altcoins could charge higher. Let's take a look at the top 5 cryptocurrencies with a solid chart structure.

Bitcoin price analysis

Bitcoin is slowly moving towards the $104,088 overhead resistance, indicating the absence of strong bearish selling.

The minor negative relative strength index (RSI) is creating a negative divergence, which indicates weak bullishness. Sellers need to break below the 20-day moving average ($97,985) to open the door to a fall to the 50-day simple moving average ($88,705).

On the downside, a break and close above $104,088 would indicate a resumption of the uptrend. The BTC/USDT pair may rally to $113,331 and then to $125,000.

The pair may reach a resistance line near $107,000, which is expected to act as a strong resistance. If buyers overcome the resistance, the pair could increase momentum and move higher towards $113,331.

If the price declines from the current level or resistance line and breaks below the moving average, it indicates that bears are selling in rallies. The pair may slide towards the support line, which is an important level to watch out for. If the bears enter the price below the support line, the pair may drop to $86,700.

Ether price analysis

Ethereum is facing strong resistance in the $4,000 to $4,094 zone, but a positive sign is that the bulls haven't given much ground to the bears.

Upward moving averages indicate gains for buyers, but a negative divergence on the RSI suggests that the trend is slowing. If the 20-day EMA ($3,723) is broken, the ETH/USDT pair may drop down to the lower trend line. Such a move can delay the start of the next leg of the climb.

Conversely, if the price is above the current level or the 20-day EMA, it indicates positive sentiment. That improves vacation time by more than $4,094. If that happens, the pair could go up to $4,500.

The moving averages on the 4-hour chart are off, and the RSI is above the midpoint, suggesting a range-bound move in the near term. The pair could consolidate between $4,094 and $3,500 for a limited time.

Buyers will need to drive the price above $4,000 to increase the break-even period above $4,094. The couple can raise about $4,500. Alternatively, a fall below $3,500 would tilt the advantage to the bears.

Chainlink price analysis

Chainlink (LINK) is at an all-time high, but the long wick on December 13th and December 14th shows bears selling above $30.

The $27.41 level is an important support to watch on the downside. If the price breaks above the current level or $27.41 on strength, it will add a break above $31. The LINK/USDT pair may start the next leg of the rise towards $34.50 and later towards $38.30.

If the price breaks below $27.41, this bullish outlook is worthless in the near term. That could sink the pair to the 20-day EMA ($23.87) which is an important support for the bulls to defend against.

The RSI is showing a negative divergence on the 4-hour chart, indicating that the upward movement is losing steam. A break and close below the 20-EMA suggests that the bears are trying to make a comeback. The 50-SMA is an important support for bulls to defend because if their efforts fail, the pair may drop to $23.

If buyers want to prevent a deep correction, they should quickly load and hold the price above $31. If they do that, the pair could accelerate to $34.50.

Related: Trump May ‘One Day' Use Bitcoin As America's Reserve Asset – How High Will BTC Price Go?

Aave price analysis

Aave (AAVE) recovered from the 20-day EMA ($283) on December 10 and broke recent resistance at $300 on December 11.

The AAVE/USDT pair is facing a selloff near $400, but the bulls haven't given much ground to the bears. This indicates that the bulls are holding their positions as they wait to continue the upward movement. If buyers drop the price above $400 a pair, it can go up to $450.

The first support on the downside is the 38.2% Fibonacci retracement level at $330. If price bounces back from this support, the possibility of an upside remains. On the other hand, a break below $330 could sink the pair to the 20-day EMA ($283).

The pair has rebounded from the 20-EMA, which is the most important recent support for the bulls to defend. If the price stays above the 20-EMA, the bulls will try to push the pair above the $400 resistance.

Instead, if the price declines and breaks below the 20-EMA, it suggests that buyers are taking profits. The pair may go down to the 50-SMA, which may attract strong buying by the bulls.

Bitget Token price analysis

Bitget Token (BGB) is on strong growth, but the rally was rejected from $3.50 on December 12, which indicates profit taking by traders.

The bulls are trying to hold the decline at $3. If the price changes from the current level, the BGB/USDT pair will try to rise above $3.50. If this happens, the rally may extend to $4.

Contrary to this assumption, if the price is below $3, the bears will try to pull the pair to the 20-day EMA ($2.43). Such a deep pullback increases the possibility of regional formation in the near future.

The bulls are trying to start a recovery from the 50-SMA, but the recovery is expected to wait for selling on the lower line. If the price falls significantly below the cold line, the probability of a break below the 50-SMA increases. That could start to drop to $2.40.

On the contrary, if the price rises above the reduced line, it indicates that the return period may be over. The pair may rise to $3.34 and then to $3.50 high resistance. If this level is cleared, the pair can start the next leg of the climb.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.