BNB, ADA, AVAX Price Analysis: Is It Right Time To Buy These Altcoins?

Bitcoin (BTC) is rebounding after declining below $100,000 earlier this week, now approaching the $100,000 resistance target again for a potential breakout. That has led top altcoins to rebound sharply as well, with BNB (BNB), Cardano (ADA), and Avalanche (AVAX) recording the best gains.

BNB (BNB) Technical Analysis

BNB/USD Four-Hour Price Chart Analysis — Sharp Bounce Next

BNB is trading at $679, showing resilience within its ascending parallel channel on the daily chart. The price recently tested and held the channel’s lower trendline as support, hinting at a potential bounce toward the upper trendline near the $794-800 area.

The 50-day exponential moving average (EMA), which is near $663, has acted as a support level, while the 200-day EMA at $590 remains a critical long-term cushion. Additionally, the RSI sits near 48, suggesting neutral momentum with room for further upside.

Fibonacci retracement levels align with the channel structure, with BNB rebounding from the 0.786 level near $670. A decisive close above $700 could increase the likelihood of retesting the $794-800 resistance.

However, failure to hold the channel’s support could expose the price to $625 or lower.

BNB/USD Weekly Price Chart Analysis — A 300% Boom in 2025?

BNB has confirmed a breakout from a long-term “cup-and-handle” pattern on the weekly chart, suggesting a potential bullish continuation. The pattern’s depth projects an upside target near $2,753 by 2025, indicating a rally from current levels at around $680.

The breakout occurred as BNB crossed above the cup’s resistance, near $652, supported by rising volumes.

However, the current pullback toward the breakout level could test $652 as support. A successful retest would strengthen the bullish case, while a breakdown risks invalidating the setup.

The 50-week EMA is near $541, and the 200-week EMA is at $364, which provides additional support zones. The RSI, at 59, signals room for further upside but highlights the need for cautious optimism as BNB consolidates.

Cardano (ADA) Technical Analysis

ADA/USD Four-Hour Price Chart Analysis — Breakdown Averted?

Cardano shows signs of a potential trend reversal after bouncing strongly from $0.76, a level that formed the base of a descending triangle pattern. The price is now testing the triangle’s resistance near $0.98, aligning with the 50-EMA ($1.006) on the 4-hour chart.

If ADA breaks above the triangle, the Fibonacci retracement levels highlight $1.09 (0.618 Fib) as a key upside target. A confirmed breakout could invalidate the triangle’s bearish bias, potentially leading to extended gains.

However, failure to breach resistance could prompt another pullback. Support levels to watch include $0.95 (0.382 Fib) and $0.89, where the 200-EMA aligns. A breakdown below $0.76 would confirm a bearish continuation, targeting $0.645 per the triangle’s setup.

ADA/USD Weekly Price Chart Analysis — A 40-50% Correction Likely in 2025

Cardano is retreating lower after testing the upper trendline of its ascending broadening wedge pattern, now down by over 42.50% in the last 48 hours. As of Dec. 21, ADA/USD was testing the 0.236 Fib level of around $0.93 as its interim support.

From a fractal analysis perspective, ADA risks breaking below the $0.93 level could drop toward the support confluence range — defined by the $0.45-0.58 area. This range served as support during the downtrend cycle in 2022 and resistance during the uptrend cycle in early 2024.

Conversely, a bounce from the 0.93 support line will likely send the ADA price toward the channel’s upper trendline, which coincides with the 0.382-0.5 Fib line and aligns with the $1.36-1.71 area.

Avalanche (AVAX) Technical Analysis

AVAX/USD Four-Hour Price Chart Analysis — Signs of Further Upside Emerge

AVAX is rebounding within a descending channel. Its immediate upside target is near its upper trendline at $43.45. This level aligns with the 50-EMA and 200-EMA on the 4-hour chart and the 0.5 Fibonacci retracement level.

A breakout above the channel’s upper boundary could see AVAX retesting the purple ascending trendline near $50, previously served as key support. This level also coincides with the 0.236 Fib retracement, making it a crucial bull resistance zone.

However, failure to sustain the rebound could result in AVAX retesting the channel’s lower trendline near $31, which aligns with the 0.0 Fibonacci level. This will reinforce the bearish bias if support levels fail to hold.

AVAX/USD Weekly Price Chart Analysis — Expect A 25% Correction in 2025

Avalanche entered a pullback stage after testing its multi-year descending trendline resistance earlier in December, and it has fallen 40% since. As of Dec. 21, it is testing the 0.236 Fib line, which is around $38.60, as an immediate support level, aligning with the 50-week and 200-week EMAs.

Interestingly, the $38.60 support further aligns with the lower trendline of its prevailing ascending parallel channel. This support confluence, down 25% from the current price levels, could result in a rebound toward the descending trendline resistance, which will likely align with the $45 level.

Meanwhile, a breakout above the $45 level could enable a long-term price rally toward the parallel channel’s upper trendline, around $200 in 2025. This is up 400% from the current price levels.