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How high can Bitcoin ($BTC), Ethereum ($ETH), Solana ($SOL) and $XRP rise in this bull market? Here are our predictions:
For the last two years, Bitcoin’s weekly chart points to a rising channel, with the first test at its previous high near $125,000. Breaking above this increases the chances for $BTC to rally to the channel’s upper boundary near $190,000. At the current price of $84,173 this would represent a 2.26x multiplier or a 125.72% gain.
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Similar to $BTC, $ETH’s monthly chart shows an ascending channel, but this one dates back five years. If $ETH breaks through the former high near $5,000, its next projected target on the channel is $8,800. At the current price of $2,665, that high represents a 230.21% gain, or 3.30x multiplier.
$XRP’s monthly chart shows an ascending triangle set up, with upper resistance near $3.66. A monthly close above this level could trigger a rally to the pattern’s upper ceiling near $31.87. At the current price of $1.47, $XRP will need to experience a 2,068.03% gain, or a 21.68x on investment at today’s prices.
Finally, $SOL monthly chart shows a cup and handle set up, with a neckline near $295. A monthly close above this level would confirm the breakout, and a surge to a projected target of $2,744. At the current price of $118.08, $SOL will have multiplied by 23.25x. Of the four cryptocurrencies, Solana’s decisive breakout would bring the highest returns at 2,225.42%.
Coinpedia has covered how Q4 is one of the best quarters for Bitcoin and the overall crypto market in the history of $BTC. While the above targets point to a fruitfull bull cycle, they all rely on breakouts above the noted prices.
For the flagship cryptocurrency, previous resistance between $85,000-$85,500 has completely dissolved after buyers propelled the price above $86,000.
The next resistance lies at September’s high of $87,363, and thereafter the $90,000 psychology target.
