The cryptocurrency market is seeing a 1.99% overall increase in the last 24 hours, continuing a positive trend of nearly 9% over the week. Optimism surrounding Bitcoin and Solana ETF requests has eyes on three major altcoins - Dogecoin, Cardano, and Chainlink - showing explosive technical signals. Could we be on the verge of a new massive rally?
Cardano (ADA) is capturing significant attention after validating a major technical pattern. According to market data, the asset recently climbed to test the $0.42 – $0.43 zone, confirming an upside breakout from a falling wedge on the daily chart.
Currently in the bearish trendline breakout phase, this move often precedes a bullish continuation. If buyers maintain the pressure, technical analysis sets a first target at $0.66. A decisive break of this level would pave the way toward the psychological resistance of $0.80.
Buying volumes support this scenario, suggesting that investors are accumulating in anticipation of a new upward leg. However, the current support zone must hold firm to avoid invalidating this bullish structure.
The optimism isn’t limited to Cardano. Chainlink (LINK) is benefiting from a powerful fundamental catalyst: the approval of the Bitwise Spot ETF. The price has reacted positively, currently oscillating in the $13.80 – $14.20 zone. From a technical perspective, LINK has reclaimed crucial Fibonacci levels, signaling a potential breakout.
Analysts anticipate a return toward $20 in the short term if institutional buying pressure continues. Growing interest from asset managers in Chainlink reinforces the credibility of this ambitious target.
On the Dogecoin (DOGE) front, the setup is equally promising. The leading memecoin appears ready to break out of its consolidation. With a current price gravitating around $0.15, the market structure suggests massive accumulation. The technical target monitored by all traders is the $0.20 threshold, a level that, if breached, could trigger a parabolic acceleration typical of DOGE cycles.
The indicators are green for these three giants. Market sentiment is clearly oriented toward bullishness, fueled by institutional flows and new regulations favorable to ETFs. Dogecoin, Cardano, and Chainlink present solid bullish continuation configurations.
However, caution remains warranted. Trader Killa is currently short with a pivot on January 13th. Indeed, Bitcoin tends to take its time breaking through strong resistance levels. It is therefore preferable to remain patient until next Tuesday, as Tuesdays are typically synonymous with bottoms.
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Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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