The crypto market is on the brink of an exciting period, with expectations of significant rallies. Investors who capitalized on the crashes of June 2022 and 2023 have been rewarded, raising questions about who will witness parabolic increases in January 2024.
ARB Coin has been following a parabolic support trend line since October, recently breaking through a $1.3 resistance level and aiming for higher targets. Currently trading at $1.45, ARB Coin is expected to reach new peaks after surpassing resistance levels at $1.75 and $1.82.
According to Elliot wave analysis, ARB Coin is in the third wave of a five-wave uptrend, potentially leading to a satisfying peak. A surge 2.61 times greater than the first wave could propel the price to a $2.25 peak. Conversely, a loss of the trend line could send the price down to $1.1.
OP Coin reached an all-time high of $4.18 on December 27th, followed by a slight pullback. The end of December marked one of the best periods for many cryptos, with several reaching annual and all-time highs. OP Coin, aiming for the top of a long-term rising parallel channel since June 2022, could reach $6.2. However, closures below $3.1 risk a 45% drop to $2.
GMX Coin, once very popular among investors, experienced a period of prolonged selling. In October, it broke out of a decreasing resistance trend line and turned upwards after confirming $42 as support. If GMX Coin can close above $58, we might see a 70% surge to $90. Meanwhile, BTC has fallen to $41,880, and further declines could increase anxiety in altcoins.
These predictions for ARB, OP, and GMX Coins suggest a potential for significant gains in 2024, with the usual caution that the crypto market remains highly volatile and subject to rapid changes.