- Bitcoin price reclaims the $105,000 price target and altcoins are following this lead.
- Ethereum is highly anticipated to surge to hit its first new ATH this cycle.
- ETH price is nearing the end of a bullish falling wedge formation.
As the price of Bitcoin recovers its $105,000 price range, the pioneer crypto asset is expected to continue in a slow sideways movement until it can close above the $106,000 price range on the daily chart. One analyst believes that this move will elevate Bitcoin’s ability to hit its next ATH target which will likely be at the $120,000 price target.
Pioneer Altcoin Ethereum Under Spotlight
With Bitcoin showing strong promise in a possible price surge in Q1 only to continue rising as the year progresses, analysts expect the same from altcoins as well, especially from pioneer altcoin asset Ethereum (ETH) which is expected to lead the start of the altseason in Q1 of 2025.
Historically, Q1 following a Bitcoin Halving year is always followed by the arrival of the peak of the altseason. With the current timeline, traders are slowly growing anxious as this peak seems to have been delayed. However, historically February has always been the start of the most bullish period.
Ethereum Nears End of Falling Wedge Formation
$ETH loves Falling Wedges 👀 pic.twitter.com/hD93wXRdem
— CryptoBullet (@CryptoBullet1) January 29, 2025
Presently, Ethereum (ETH) seems to be at the end of a bullish pump formation. As we can see from the post above, ETH price has always pumped parabolically after the asset formed a falling wedge pattern. In 2021 and 2024 the price of ETH pumped after a falling wedge pattern formation was finished and it seems now in 2025, the same pattern is playing out again.
