As Bitcoin inches towards all-time highs, ETH, LINK, AAVE, and BGB move higher.

Bitcoin (BTC) has recovered significantly from its weekly lows and is hurtling toward 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 Bitcoin to fall 30% and altcoins to retrace as much as 60% more sharply. The recovery is expected to begin in the fall, with “major tokens regaining momentum and regaining previous highs by the end of the year.”

Another optimistic voice was that of Bitcoin mining industry researcher Danny Marques, who studied Bitcoin’s three previous bull cycles. Marques believes Bitcoin could reach between $173,646 and $461,135 in 2025, barring a macro deterioration like in 2020.

Bitcoin is not alone. Analysts expect Ethereum (ETH) to catch up in 2025. Bybit analysts told Cointelegraph that Ethereum is showing strength in the derivatives market and “could hit a new all-time high in the first quarter of 2025.”

In the near term, if Bitcoin stays above $104,088, some altcoins could charge higher prices. Let’s take a look at the top five cryptocurrencies with strong chart structures.

Bitcoin Price Analysis

Bitcoin is gradually moving towards indirect resistance at $104,088, indicating a lack of aggressive selling on the downside.

A minor negative is that the Relative Strength Index (RSI) is forming a negative divergence, indicating weakening bullish momentum. Sellers would need to push the price below the 20-day exponential moving average ($97,985) to open the door to a decline to the 50-day simple moving average ($88,705).

On the positive side, a close above $104,088 would signal a resumption of the upward trend. The BTC/USDT pair could rise to $113,331 and then $125,000.

The pair could reach resistance near $107,000, which is expected to act as solid resistance. If buyers overcome resistance, the pair is likely to gain momentum and surge to $113,331.

If the price declines from the current level or resistance line and falls below the moving average, it indicates that bears are selling on the rally. The pair may fall to support, which is an important level to watch out for. If the bears fall below support, the pair could fall to $86,700.

Ether Price Analysis

Ethereum faces significant resistance in the $4,000-$4,094 area, but a positive sign is that the bulls have not lost much ground to the bears.

Rising moving averages mean things are in favor for buyers, while negative divergences in RSI indicate that the upward trend is slowing. If the 20-day EMA ($3,723) is broken, the ETH/USDT pair may fall towards the downtrend line. This move will likely delay the start of the next uptrend.

Conversely, if the price rises from current levels or the 20-day EMA, it would indicate positive sentiment. This improves the prospect of a break above $4,094. If that happens, the pair could surge to $4,500.

The moving averages on the 4-hour chart have flattened out and the RSI is just above the midpoint, suggesting range boundary action is possible in the near term. For some time, the pair may consolidate between $4,094 and $3,500.

Buyers would need to push the price above $4,000 to increase the likelihood of a break above $4,094. The pair could then rise to $4,500. Alternatively, a drop below $3,500 would tip the scales in favor of the bears.

Chainlink Price Analysis

Chainlink (LINK) is in an upward trend, but the long wicks of the December 13 and December 14 candlesticks show bears selling above $30.

The $27.41 level is an important support level to watch out for in the downtrend. If the price rises from current levels or rebounds strongly from $27.41, a decline above $31 becomes more likely. The LINK/USDT pair could then begin the next leg of the uptrend towards $34.50 and later $38.30.

This positive view will be invalidated in the near term if the price falls below $27.41. That could push the pair down to the 20-day EMA ($23.87), which is vital support for the bulls to defend against.

RSI is showing negative divergence on the 4-hour chart, indicating that the uptrend is losing steam. A break and close below the 20-EMA suggests that the bears are trying to recover. 50-SMA is an important support for bulls to defend. Because if the bulls fail in their efforts, the pair could plummet to $23.

If buyers want to prevent a serious correction, they need to quickly keep the price above $31. If that happens, the pair will likely accelerate towards $34.50.

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Aave Price Analysis

Aave (AAVE) rose from the 20-day EMA ($283) on December 10 and broke the short-term resistance level of $300 on December 11.

The AAVE/USDT pair is facing a selloff near $400, but the bulls haven’t given much to the bears. This suggests that the bulls are holding their ground, expecting the uptrend to continue. The pair could soar to $450 if buyers push the price above $400.

The first downward support is at $330, which is the 38.2% Fibonacci retracement level. There is still a possibility of an upward breakout if the price bounces from this support line. On the other hand, a decline below $330 could lead to a fall to the 20-day EMA ($283).

The pair bounced off the 20-EMA, which is an important near-term support that the bulls will need to defend. If the price remains above the 20-EMA, the bulls will attempt to rise above the $400 resistance.

Instead, if the price declines and falls below the 20-EMA, it means buyers are booking profits. The pair may fall towards the 50-SMA, which will likely trigger strong buying from the bulls.

Bitget Token Price Analysis

Bitget Token (BGB) had a strong rally, but bounced back from $3.50 on December 12, signaling traders to book profits.

The bulls are trying to prevent a $3 drop. If the price rises from the current level, the BGB/USDT pair will again try to rise above the overhead resistance of $3.50. That could extend the rally to $4.

Contrary to this assumption, if the price remains below $3, the bears will attempt to pull the pair down to the 20-day EMA ($2.43). Such a large decline increases the likelihood of a short-term trading range.

Bulls are attempting to initiate a bounce off the 50-SMA, but the recovery is expected to face selling off the downtrend line. If the price breaks sharply away from the downtrend line, a breakout below the 50-SMA becomes more likely. That could start a decline towards $2.40.

Conversely, if the price rises above the downtrend line, it means that the downtrend has ended. The pair may rise to $3.34 and then reach the resistance level of $3.50. Once this level is cleared, the pair could begin the next leg of its uptrend.