Bitcoin and altcoin prices have done well this year, and the trend is set to continue in the first quarter of 2025. The Federal Reserve interest rate cuts, the upcoming Trump administration, and the ongoing momentum will influence this performance. So, here are some of the top altcoins to avoid selling before January 2025.
Why You Should Avoid Selling Altcoins by January
January is usually a weak month for Bitcoin and other altcoins. Data by CoinGlass shows that the average Bitcoin return in January since 2013 is 3.35%, while the median is 0.25%. Bitcoin has had negative returns in six January’s since that period.
Therefore, altcoins like Ethereum, Solana, Binance Coin, and DexBoss may continue doing well before January of 2025.
Ethereum (ETH)
We recently wrote an article explaining why Ethereum price may have a strong rally and hit $5,000 soon. On the daily weekly chart, we see that the coin is still facing resistance at the psychological level at $4,092.
Technicals suggest that Ethereum price will continue rising if bulls manage to push it above that resistance. A move above that level will invalidate the triple-top pattern that has been forming, and lead to more gains to $4,856, its highest level on record. This initial target is about 25% above the current level.
Ethereum will then rally to the next important psychological level at $5,000 if bulls clear that resistance level. The coin also has strong fundamentals as the amount of assets in its DeFi protocols has jumped to almost $80 billion.
DexBoss (DEBO)
DexBoss is an upcoming DEX platform that aims to compete with the likes of Uniswap and Raydium. It is currently in a presale that has raised over $154,000 from investors. This project benefits early buyers because they are buying the token for $0.01, much lower than the eventual listing price of $0.050. As such, these buyers are in the money even when they sell it on its airdrop day.
DexBoss has many features that will help it boost the DEBO price. It will have a wide variety of tokens to buy, risk management features, and cross-chain compatibility. You can buy the DEBO token here.
Solana (SOL)
Solana is another altcoin to avoid selling by January. The weekly chart shows that the coin has pulled back for almost three consecutive weeks. This retreat happened after the coin rose and retested the all-time high of $263.60.
Therefore, the coin is falling as it forms the handle section of the cup and handle pattern that has been forming since November 2021. A C&H pattern is one of the most bullish chart patterns in the market and is made by a horizontal pattern and a rounded bottom.
Solana has also retested the key support at $209.51, its highest swing in March this year. Therefore, the coin will likely bounce back, and possibly rise to the psychological point at $300 by January 2025. Some analysts believe that the Solana price will rise to $1,000 in the longer term.
Binance Coin (BNB)
Binance Coin is another crypto to avoid selling by January. The BNB token, like many other altcoins, formed a cup and handle pattern whose upper side was around $691. It then spent a few months forming the handle section of this pattern.
The coin has now moved above the upper side of the C&H pattern and the 50-week moving average. By measuring the depth of the cup, and then taking the same figure from its upper side, there are odds that the coin will rise to over $1,100 in this bullish cycle.
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