SOL, LTC, HBAR Price Analysis — Bloomberg’s Top Crypto ETF Picks For 2025

Bloomberg analyst James Seyffart has provided potential timelines for the approval of exchange-traded funds (ETFs) based on Solana (SOL), Litecoin (LTC), Hedera (HBAR), and others. His mention of these altcoins has led to substantial rallies.

We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the btc + eth combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending… pic.twitter.com/29vMdciZxE

— Eric Balchunas (@EricBalchunas) December 17, 2024

Solana (SOL) Technical Analysis

SOL/USD Four-Hour Price Chart — Decline Toward $200 Possible

Solana’s SOL token continues to face bearish pressure, trading within a descending channel with confined price action for nearly a month.

The 4-hour chart against USDT reveals SOL struggling to break above the channel’s upper trendline, which aligns with resistance at the 50-EMA ($222.05) and 200-EMA ($222.81). The inability to hold above these levels has kept sellers in control, driving prices lower.

The descending channel is part of a broader correction from the $264 high, with Fibonacci retracement levels highlighting key support and resistance zones. SOL has fallen below the 0.236 Fibonacci level near $218.

Further rejection from the channel’s upper trendline suggests a bearish continuation, with sellers eyeing the lower trendline near $194. This area coincides with a horizontal support level from November 2024, potentially serving as a bounce zone.

SOL/USD Weekly Price Chart — Bull Flag Breakout Needs Confirmation

SOL token is showing signs of a bullish continuation on the weekly chart, forming a potential bull flag pattern.

After rallying sharply earlier this year, SOL has entered a consolidation phase, with the price moving within a downward-sloping channel. This flag structure follows an impressive breakout from a broader accumulation range, indicating a pause before another leg higher.

The current pullback brings SOL close to key technical support. The 20-week EMA at $191.04 and the 0.786 Fibonacci retracement level at $203.80 align as crucial areas to watch for a rebound.

A confirmed breakout above the bull flag’s upper trendline could set the stage for significant gains. The flagpole height suggests a measured move target near $655, aligning with the 2.618 Fibonacci extension.

For now, SOL must hold above the 20-week EMA and key support levels to maintain its bullish outlook. If buyers fail to defend these zones, the price risks deeper pullbacks toward $155, the 50-week EMA.

Litecoin (LTC) Technical Analysis

LTC/USD Four-Hour Price Chart Analysis — A Rebound Toward $140 is Possible in December

Litecoin (LTC) is showing signs of a potential rebound, with its price approaching key technical support levels within a broader ascending channel.

The 4-hour chart reveals LTC holding above the channel’s lower trendline near $116, which has consistently attracted buyers over the past month. This support also aligns closely with the 0.236 Fibonacci retracement line, strengthening the bounce case.

Technical indicators further support a bullish rebound. The 200-EMA at $109.62 is trending upward, signaling long-term support, while the 50-EMA at $119.87 remains within close reach.

A successful hold above these levels could give buyers the momentum to push LTC toward the channel’s upper trendline, near $138. This target also coincides with the 0.786 Fibonacci retracement level, a common area for profit-taking during corrective moves.

LTC/USD Weekly Price Chart Analysis — Ascending Triangle Reversal Breakout Underway

Litecoin has confirmed an ascending triangle breakout on the weekly chart, signaling a major trend reversal.

After months of sideways consolidation, LTC breached the triangle’s horizontal resistance near $105, leading to a strong upward move. The breakout followed a failed breakdown earlier this year, likely trapping sellers and fueling the bullish momentum.

The breakout target, calculated by measuring the triangle’s height, projects a move toward $230, aligning closely with the 0.5 Fibonacci retracement level.

Key moving averages support the bullish outlook. The 20-week EMA at $90 and the 50-week EMA at $81.75 are trending upward, signaling renewed buyer interest.

However, Litecoin’s recent pullback suggests a retest of the previous resistance-turned-support near $105. Holding above this level will be crucial for bulls to maintain control and resume the upward trajectory.

If bulls successfully defend $105, Litecoin will move toward $188 and potentially higher levels, marking a significant reversal from its multi-year downtrend.

However, a failure to hold support could invalidate the bullish setup, opening the door for renewed consolidation.

Hedera Hashgraph (HBAR) Technical Analysis

HBAR/USD Four-Hour Price Chart Analysis — Bearish Reversal Pattern Sees 25% Drop

Hedera Hashgraph’s HBAR is trading within a descending triangle pattern on the 4-hour chart, confirmed by a downward-sloping trendline resistance and horizontal support near $0.27. The classic technical setup suggests sellers gradually overpower buyers, increasing the likelihood of a downside move.

The descending triangle’s height signals a breakout target near $0.197 should HBAR close decisively below the $0.27 support. This target aligns with the lower range of the recent uptrend, marking a potential 25% correction.

Conversely, a decisive breakout above the descending triangle’s upper trendline near $0.31 could invalidate the bearish setup and shift focus to a higher resistance around $0.36.

HBAR/USD Weekly Price Chart Analysis: Overbought Correction Risks Mount

HBAR’s price rally has pushed the token into overbought territory, raising the risk of a near-term correction.

On the weekly chart, HBAR surged to $0.30, its highest level since early 2022, after an explosive breakout above key resistance levels. The Relative Strength Index (RSI) now stands at 79.41, well above the 70 threshold, signaling overbought conditions.

The rally has stalled near the 0.618 Fibonacci retracement level at $0.36, a key technical resistance. Historically, such levels tend to trigger profit-taking, especially when accompanied by overbought indicators.

A corrective move could see HBAR retest immediate support around $0.23, which aligns with the 0.382 Fibonacci line. Further downsides may include a 200-week EMA of around $0.10, providing a significant cushion for bulls.

Despite the correction risks, HBAR’s overall trend remains bullish. The breakout from a long-term downtrend and the price flipping its 50-week EMA ($0.10) into support signals a positive longer-term outlook. However, cooling momentum may be necessary to sustain further upside.