3 Altcoins to Watch in the Third Week of January 2025

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As we approach mid-January 2025, the crypto market has had a relatively quiet beginning to the year. Despite attempts, Bitcoin has been unable to surpass the $95,000 threshold, which has made it difficult for altcoins to rebound or experience substantial gains.

Nevertheless, various outside influences suggest that certain tokens might experience significant advancements shortly. BeInCrypto has examined three of these altcoins that are worth keeping an eye on.

Shiba Inu (SHIB)

For about a month now, the value of Shiba Inu has been oscillating within a pattern known as a “falling wedge,” which is typically associated with an upcoming bullish trend. Following a test at the lower trend line, Shiba Inu seems ready to surpass the upper boundary, generating excitement for a potential breakout.

Should an upward trend emerge in the altcoin’s price, it might encounter its next resistance level at approximately $0.00002279. The wedge-shaped pattern hints at the possibility of a substantial 49% surge, potentially thrusting SHIB up to around $0.00003325. This bullish movement could rekindle investor enthusiasm and indicate a robust comeback for the cryptocurrency.

If Shiba Inu’s momentum weakens and it drops below the lower trend line, there’s a possibility of further price decreases. This downward trend might lead Shiba Inu to the $0.00001922 support level, which could challenge the optimistic perspective and make Shiba Inu susceptible to more losses.

Fantom (FTM)

Lately, the value of Fantom hasn’t been doing as well as expected, but there are some exciting advancements on the horizon that could potentially change its course. The token exchange from FTM to S is scheduled to start this week, which might serve as a trigger for more positive market feelings and price fluctuations.

Over the following three months, investors can exchange their tokens at no cost. This new opportunity might draw a lot of interest and stimulate optimistic sentiment, possibly causing Fantom’s (FTM) price to surpass the current resistance at $0.76 and potentially climb towards $0.87 in the near future.

If investor interest in the token swap stays relatively low, Fantom may find it challenging to surpass $0.76. In such a scenario, there’s a risk that the cryptocurrency could dip below its crucial support level of $0.63, which would undermine the positive forecast and potentially prolong its current lackluster performance.

Degen (DEGEN)

Over the last seven days, DEGEN has been moving downwards, and now it’s trading around $0.0088 – a price lower than its previous support level of $0.0092. This drop suggests persistent bearish sentiments, causing investors to be wary about any immediate chances of an uptrend.

On January 15, the liquidity mining airdrop might draw considerable interest and investment. This event could potentially halt the downward trend and drive up DEGEN’s price to approximately $0.0117. If this resistance is broken, it could lead to a surge towards $0.0148, rekindling investor confidence and making DEGEN a noteworthy altcoin to monitor.

If the downward trend continues for DEGEN, its value might decrease to approximately $0.0078, reaching a significant level of support. If this support doesn’t hold, there could be additional drops, possibly taking the price down to $0.0071. This scenario would contradict the current optimistic forecast.

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2025-01-13 17:57