Bitcoin remained relatively stable over the weekend, trading within a narrow band as market participants await fresh catalysts. While short-term uncertainty persists, analysts maintain an optimistic long-term outlook, with some projecting Bitcoin could reach $270,000-$300,000 by 2025.
The leading cryptocurrency faces resistance at moving averages but bulls have managed to hold ground against selling pressure. A breakout above $98,500 could pave the way toward the $102,500 level. However, failure to defend the $94,000 support could trigger a decline to $90,000.
Among altcoins showing upward momentum:
XRP has formed a symmetrical triangle pattern with bulls holding a slight edge. A break above $2.84 could spark a rally toward the downtrend line.
Litecoin oscillates within its own triangle formation, with buying seen near support and selling at resistance. A breakthrough could propel LTC toward $141.
MANTRA displays strong upward momentum despite profit-taking above $8. The token looks to find support at $7.08, with potential to reach $10 if it breaks above $8.20.
Gate Token successfully closed above its downtrend line, signaling bullish interest. A bounce from current levels could drive GT toward $26, while a break below support at $22.22 risks further decline.
The altcoin landscape faces growing competition, with CoinGecko reporting 600,000 new tokens launched in January alone - a massive increase from the 50,000 monthly average seen in 2022-2023. This surge in new tokens impacts liquidity distribution across the market.
Market participants remain divided on the timing of a potential altcoin season, even as analysts like apsk32 predict Bitcoin could mirror gold's rally and potentially reach $400,000.