This week we take a closer look at ethereum, Ripple, Cardano, Binance Coin, and Solana.
ethereum (eth)
ethereum's rally was cut short in December when sellers quickly returned as soon as the price surpassed $4,000. Shortly after, the cryptocurrency entered a deep correction that saw it fall to $3,100. Since then, good support was found around $3,300, which has held well to date.
At the time of writing, buyers are trying to push the price up, but volume is low. However, if this trend continues, eth could aim to reach $3,700 next. The question is whether that level will bring sellers back. Otherwise, the most likely candidate is the resistance at $4,000.
Looking ahead, eth needs to make $4,000 a key support if it hopes to achieve a new price record in 2025. To do so, it needs to break above $4,868, which is the current ATH.
Vibe (XRP)
After a brief correction below $2, XRP is now back on the offensive and hovering around $2.4 at the time of this article. Buyers seem eager to get back in and are currently targeting $3 as the primary target of any future rally.
With $2 support confirmed, bullish momentum is picking up again, which could see the price peak later. That would only further embolden buyers looking to hit the January 2018 ATH at $3.3.
Looking ahead, if this cryptocurrency manages to move above $3.3, then it will enter price discovery and higher targets such as $4 and above will become realistic. However, until then, XRP needs to turn $3 into key support.
Cardano (ADA)
After the price was rejected by the $1.3 resistance, ADA entered a correction that found good support at 85 cents. Since touching that level, buyers have returned and managed to push the price above $1, at the time of this publication.
The most important resistance on the current chart is located at $1.3. This level halted the previous rally, but could soon be tested again. If it breaks, buyers will target $2 as the next major target.
Looking ahead, Cardano performed extremely well in November 2024, when the price increased by 300%. A new rally could occur in early 2025, which could see this cryptocurrency reach new highs.
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Binance Coin (BNB)
Binance Coin continues to impress after reaching a new record price in early December of $794. Momentum remains bullish and buyers are currently confirming the $691 level as support. If it holds, then BNB could generate another ATH in 2025.
The most important resistance on the chart is the current record price of $794, which will likely attract sellers again. However, if the broader market continues in an uptrend, BNB has a good chance of breaking that key resistance and rallying again.
Looking ahead, Binance Coin has a real chance of reaching $1,000 in 2025. The price must rise 40% to reach that level. This seems possible if the market remains bullish in the coming months.
Solana (SUN)
After a rapid drop to $175 in late December 2024, Solana buyers returned and managed to push its price above $200 this week. While it is still early to call, the price is currently testing the $206 level as key support. If held, SOL has an open path to higher price levels.
The next major resistance levels will be at $240 and $260. In the past, SOL failed to maintain these price levels and sellers quickly returned there. A decisive break above $260 is needed if this cryptocurrency wants to hit new price records.
Looking ahead, the Solana correction appears to be over and buyers are returning. However, his conviction will soon be tested if the price approaches $240.
The post Cryptocurrency Price Analysis for January 3: eth, XRP, ADA, BNB and SOL appeared first on CryptoPotato.
