ETH, LINK, AAVE and BGB move higher as Bitcoin inches toward new all-time

Bitcoin (BTC) recovered sharply from the weekly lows and is charging toward the all-time high of $104,088. VanEck expects the cryptocurrency bull market to hit its first peak in the first quarter of 2025. After that, the asset manager anticipates a 30% pullback in Bitcoin and a sharper retracement of up to 60% in altcoins. The recovery is expected to begin in fall, with “major tokens regaining momentum and reclaiming previous all-time highs by the end of the year.”

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

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

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

Bitcoin price analysis

Bitcoin has been gradually moving toward the $104,088 overhead resistance, indicating a lack of aggressive selling by the bears.

A minor negative is that the relative strength index (RSI) is forming a negative divergence, indicating a weakening bullish momentum. Sellers will have to yank the price below the 20-day exponential moving average ($97,985) to open the doors for a fall to the 50-day simple moving average ($88,705).

On the upside, a break and close above $104,088 will signal the resumption of the uptrend. The BTC/USDT pair could rally to $113,331 and, after that, to $125,000.

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

If the price turns down from the current level or the resistance line and breaks below the moving averages, it will suggest that bears are selling on rallies. The pair may slump to the support line, which is an important level to watch out for. If the bears sink the price below the support line, the pair may drop to $86,700. 

Ether price analysis

Ether is facing significant resistance in the $4,000 to $4,094 zone, but a positive sign is that the bulls have not given up much ground to the bears.

The upsloping moving averages indicate advantage to buyers, but the negative divergence on the RSI suggests that the uptrend is slowing down. If the 20-day EMA ($3,723) cracks, the ETH/USDT pair could drop to the downtrend line. Such a move is likely to delay the start of the next leg of the uptrend.

Contrarily, if the price turns up from the…